How to Pro-Rate Wake County Property Taxes at Closing: 60 Seconds in Real Estate Cary NC

Wake County Property Tax Pro-Ration with video blog



Real Estate Closing and Wake County NC Property Tax Details

Wake County Property Tax Proration at Closing

It really isn't all that complicated.

Seller pays property tax through Closing, the date of deed recordation.

Buyer pays the balance for the year starting from the day after closing.

Wake County Property Tax year is the Calendar year, January 1 through December 31.  Your Closing Attorney will divide the tax bill by 365 days, and multiply the result, the property tax per day by the number of days for which each party is responsible.
And the total is the party's share.

If the tax bill has been paid already, Buyer will credit Seller at settlement for their share. 
If the tax bill has not been paid, Seller will credit Buyer for their share.

It seemed to be worthy of a quick breathless 60 Seconds in Real Estate Cary NC video blog:

 


Business and Best Affordable Suburbs

It’s hard to beat.

Forbe’s ranking of the Raleigh/Cary metro area as #1 in the USA for Business and Careers was just the ticket.  It comes on the heels of last May’s BusinessWeek.com mention of Cary as one of the Best Affordable Suburbs in the South. Continue reading “Business and Best Affordable Suburbs”

A year in photos with Flickr.

Crape Myrtle, Lagerstroemia Lake Johnson, Raleigh, NC Stoneybrook Estates, Cary, NC

With over 3,000 photos posted, and over 8,000 views of photos, I have to say I really have enjoyed my first year using Flickr. I have the Flickr Pro account, that offers me unlimited monthly photo posting for only $24.95/year. A bargain, I think.

Flickr has served me many ways: Continue reading “A year in photos with Flickr.”

Real estate isn’t war. I don’t “Capture” folks. Clients are not prisoners.

People are increasingly wary of web sites that require registration, particularly real estate sites that want their personal information as the ticket to searching for homes.

That wariness is warranted.  Agents are taught to “capture” visitors; that it is good business to “capture” them to be able to stalk them for business. Continue reading “Real estate isn’t war. I don’t “Capture” folks. Clients are not prisoners.”

Home shopping without mortgage preapproval is hazardous to your wealth!

Mr. and Mrs. Buyer:

That Mortgage Preapproval is good for YOU!  To protect YOU!  To keep YOU from being hurt.

Too many folks hurt themselves by getting under contract on a home purchase when they can’t actually buy a house.  And then the problems start… Continue reading “Home shopping without mortgage preapproval is hazardous to your wealth!”

First time home buyers find the structural “Sweet spot.”

Blog fodder:

Home built in 1979.

In the structural real estate realm, that means:

Copper water lines, not the celcon-fitting class-action polybutylene that came along a couple of years later.

Solid hardboard siding, not evil class-action hardboard.

Copper wiring, not the aluminum branch circuits from the mid-’70’s.

No lead-based paint disclosure or tangible concerns, as in 1978 homes and earlier.

And this home was very affordable!

All in all, pretty cool, we thought!