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We are selling our home, and I was wondering how city taxes are paid? Do you need to write a check, or can they just deduct taxes owed from your profits at the closing?

2006-07-11 14:22:47 · 2 answers · asked by curliegirl80 2 in Business & Finance Renting & Real Estate

2 answers

Usually the closing agent (lawyer, title company, etc.) will write the necessary checks. The proper amount will be deducted from your proceeds, and put in an escrow account from which the necessary checks will be written.

2006-07-11 14:27:40 · answer #1 · answered by MOM KNOWS EVERYTHING 7 · 0 0

it comes out of your proceeds. The title company will take care of that.

2006-07-11 14:28:24 · answer #2 · answered by mz313 4 · 0 0

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