What do the following mean?

[Shannon X.]

On MLS, on property description it states

What does it mean to "buyer pays transfer tax and Rehab offer? How do you get a rehab offer?

I'm pretty sure cash offer would be something like a LOC, correct?

Thanks

[Jon Holdman]

You're confusing property taxes with transfer taxes. Property taxes are paid annually, every year. Often when you buy, you will get a credit for the portion of the year the seller owes but has not yet paid. Then, when the time comes, you have to pay the full year. For example, here in CO, taxes are due in the spring for the prior year. If I were to buy a house at the end of November 2012, I would get a credit equal to 11 months of taxes. Then, in the spring of 2013, I would have to pay the full 2012 taxes.

Transfer taxes are like a sales tax. Those are paid once when the ownership is transferred. Doesn't matter what time of year that happens.