Questions About Closing Timing

When is the best time of the month to close on a property? Do we close on the 1st of the month to make rent cutoffs accurate with the previous month? Same question with taxes and water bills. Does seller pay for the YTD estimated taxes? Does seller pay for half the estimated water bill if we close on February 14? Between the revenue squabble for the lot rent and the money going out for water and taxes, seems like everything adds up to a substantial amount of money which should be reflected in our purchase price if we have to eat these.

Any thoughts?

Yes to all of your questions. You’ll have to figure out the amounts. Seller will pay for all unpaid taxes up until the day that you buy the park. Your contract should outline this.

Thanks!! I will make sure it is addressed.