Seller Responsibility

Seller Responsibility

Seller Responsibilities And Expenses

Responsibilities:
We will prepare the purchase and sale agreement, deed and other necessary documents. We will also request the following information:

  1. Copy of your deed, if available
  2. Current mortgage information, including bank’s name, address, telephone number and your account number
  3. Social Security number and forwarding address (for the 1099B form)
  4. Oil reading and water reading, if applicable and tenant rental information if a multifamily
  5. Paid receipts for real estate taxes, water and sewer charges may be required. If your property is in a town having a municipal lighting plant, you will need to provide a light lien letter from the town light department
  6. Smoke and carbon monoxide detector certificate from the local fire department and wood stove permit, if applicable
  7. Keys and garage door openers/remotes, if applicable
  8. Occupancy certificate, if new construction
  9. For condominiums, the name, address and telephone number of condominium association contact person as we will need to obtain a certificate of common expenses (6d certificate) and a certificate of master insurance.

Expenses:

  1. Massachusetts excise stamps are collected at the time of closing. The rate is $4.56 per thousand based on sale price
  2. Broker’s commission
  3. Title examination and certification (approximately $350 to $500), if applicable. The seller pays for title fee in Worcester and contiguous towns with a few exceptions
  4. Recording fees for each discharge or release in the amount of $100-$105 each
  5. A discharge fee may be charged by the buyer’s lender’s attorney in the amount of $50 to $100 in addition to an overnight mail or wiring fee for each discharge that must be obtained
  6. Attorney’s fees
  7. Adjustments payable to the buyer for any rents, security deposits with interest or other amounts held on account of tenants, and for water, sewer, real estate taxes, condo fees and rental equipment, if not paid in advance by the seller at closing