In South Dakota, who calculates the prorations between buyers and sellers before closing?

In South Dakota, the broker typically calculates the prorations between buyers and sellers before closing. This process involves determining the allocation of certain costs associated with the property, such as property taxes, utility bills, and homeowners association fees, for the period before the buyer takes ownership.

The broker plays a crucial role in facilitating the transaction and ensuring that both parties are treated fairly in the distribution of these costs. By proactively calculating prorations, the broker helps to clarify each party's financial obligations at closing, which can aid in avoiding disputes that might arise concerning the timing and payment of such costs.

In contrast, while the seller and the buyer may have an interest in the prorated amounts, they typically do not take on the responsibility of calculating these figures, as it requires an understanding of the transactional details and often a knowledge of local regulations. The lender's involvement is usually focused on the financing aspects of the transaction rather than the detailed calculations of prorations related to the property itself. Therefore, the broker's role in this context highlights their expertise and responsibility within real estate transactions in South Dakota.