Florida Real Estate Practice Exam

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Who typically pays for property taxes, utilities, etc., on the day of closing?

  1. The buyer

  2. The seller

  3. Both buyer and seller equally

  4. The real estate agents

The correct answer is: The seller

On the day of closing, the seller is responsible for paying for property taxes, utilities, and other fees related to the property. This is because the seller is technically still the owner of the property until the sale is finalized, and therefore they are responsible for any additional costs associated with the property. Options A and C are incorrect because the buyer is responsible for these costs after the sale is finalized. Option D is incorrect because real estate agents typically do not have any financial responsibility for these fees.

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