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 from you:
- Copy of your deed, if available.
- Current mortgage information, including bank's name,
address, telephone number and your account number.
- Social Security Number and forwarding address (for the
1099B form).
- Oil reading and Water reading, if applicable and tenant
rental information if a multifamily
- 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.
- Smoke Detector Certificate from the Local Fire Department
and Wood Stove permit, if applicable.
- Keys and garage door openers / remotes, if applicable.
- Occupancy Certificate, if new construction.
- For condominiums, the name, address and telephone number
of Condominium Association contact person.
EXPENSES:
-
Massachusetts Excise Stamps are collected
at the time of closing. The rate is $4.56 per thousand based
on sale price.
-
Broker's commission.
-
Title Examination and Certification (approximately
$300.00 to $400.00), if applicable. The seller pays for
title fee in Worcester and contiguous towns.
-
Recording fees for each discharge or release
in the amount of $10.00 each (filing fees are more for registered
land)
-
A discharge fee may be charged by the buyer's
lender's attorney in the amount of $35.00 to $75.00 for
each discharge that must be obtained.
-
Attorney's fees
-
Adjustments payable to the buyer for any
rents, security deposits 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
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