Proration – 3 Easy Steps
Breaking Down Proration Welcome to episode 3 on proration of The #AskDonaldson Show, where we answer your questions about real estate in order to help you pass the real estate exam and succeed in furthering your career. Whether you are studying for the National portion, looking to get licensed in Louisiana, or obtaining your license in Mississippi; if you have a question - we have the answer. Our goal is your success! In this episode we answer the question of - calculating proration in a real estate transaction. Of course, we understand when it comes to financial math problems that this can cause some stress to real estate agents, so we have created a simple 3 Step process for solving the problem of proration. Donaldson 3 Steps to Solving Proration: Count Days Daily Rate Days x Daily Rate So, let's break this down a little more. First, in counting the number of days, remember that as real estate professionals we use the banker's calendar. In the financial world, regardless of the month - 30 days are used, which equates [...]