The decision to sell your home can be difficult, so let us make the rest easy. Our team has substantial experience representing both buyers and sellers. Our goal is to help you transfer ownership of your home to its new owner with the least amount of hassle. Your home has lots of memories, and we’ll help make this final memory a good one.
Some of the services we provide when representing sellers are:
- Work with you and your real estate professional to review the listing agreement and help you make a solid, fair, and reasonable sale. Call us before you decide to sell and we will help you through this process.
- Draft and negotiate Purchase and Sale Agreement.
The Purchase and Sale Agreement, or P&S, is a detailed and comprehensive contract that contains all of the terms and conditions of the transaction. It states the rights and obligations of each party (Buyer and Seller), the time frame in which this will happen, and the consequences if one or more parties fail to fulfill those obligations. The Agreement may be heavily negotiated between the attorneys of both parties.
- Negotiate contingencies and monitor deadlines with the buyer’s attorney.
The buyer’s offer may contain two types of contingencies: an Inspection Contingency and/or a Financing Contingency. The Inspection Contingency will take place after you receive the Offer to Purchase and before the Purchase and Sale agreement is signed. The buyer and their real estate professional will hire an inspector who will evaluate the physical attributes of your property and its systems. This may include heating, electrical, plumbing, water quality (for well water), septic systems (if not served by a municipal sewer), the presence/absence of radon gas, etc. When the inspection is completed, the buyer will have a specific time frame to notify you of any deficiencies and negotiate further if necessary.The Financing Contingency will establish a date by when the buyer will have a mortgage commitment in hand. In a timely manner, they will need to monitor and facilitate the mortgage application process so that they meet the obligations under the Purchase & Sale Agreement. For either contingency, we will help you monitor the process so the buyer meets deadlines.
- Answer your questions and explain all the legal documents.
We know that selling a home is a complex and often emotional process, so we are committed to guide you through it and answer your questions in language you understand and with compassion.
- Represent you at the closing.
You will need to provide the following information to successfully close the sale of your home. Not all of these items will pertain to your property. Please review this list and we will help you obtain the information you need:
You will need to provide a valid driver’s license or passport at the closing for proper identification.
If you currently have a mortgage for the property you are selling, we will pay it off with the proceeds from the sale. Please provide your mortgage information, including any equity mortgage(s), so we can make arrangements for payment. After the mortgage is paid in full, the lender will send us discharges which we will record at the Registry of Deeds.
It is the buyers responsibility to prepare the new deed. The buyer’s attorney should send us a copy of the proposed deed prior to the closing date.
- Smoke Detector/Carbon Monoxide Certificate.
You will need a Certificate of Compliance showing that your property is equipped with a smoke and carbon monoxide detector. Your real estate broker will assist you with this. The Certificate is issued by the Fire Department and is valid for 60 days from the date of issuance. You should request this three weeks in advance of the closing.
- Final electricity, water, sewer, and fuel readings.
Your city or town can prepare a final water and/or sewer reading. Your electricity and fuel providers can also give you final readings for their services. You will need to bring these numbers to the closing so that we can make adjustments.
You may be required to pay certain fees at the time of closing, including applicable excise and transfer taxes, recording fees to discharge mortgages and other liens, discharge tracking fees, and applicable overnight delivery charges. We will pay these items from the proceeds of the sale, so you do not have to write a separate check at the closing.
- Power of Attorney.
In most instances, the seller is not present at the time of closing. We will prepare a limited power of attorney document for you to sign instructing us to act on your behalf at the closing. This document needs to be signed and notarized, which can be done in our office prior to closing if you desire.
- Condominium Documents.
If your home is a condominium unit, your condominium association or manager can provide you a certificate that reflects any unpaid common expenses charged to your unit and a Certificate of Insurance naming the buyer and their lender as the insured. This is usually done by your broker.
- Sale Proceeds.
Sale proceeds will be released to you when the deed and mortgage have been recorded at the Registry of Deeds, and will be issued to you by check drawn from our Trust Account.
- Federal Tax Laws.
Federal Law requires us to report the proceeds of your home sale to the Internal Revenue Service. We will give you the necessary forms.
- Title Examination.
The title examination is typically performed by the buyer’s attorney. If there are deficiencies or defects, we can work with the them to solve the problems and close the transaction.
Most lenders require 72 hours notice prior to the day of closing to prepare the loan papers and obtain funds for the buyer. There are few exceptions to this requirement. We will work with you to adhere to this schedule along with the buyer and their broker.
If the title for your property is in a corporate name, you will need to secure a Certificate of Legal Existence and Good Standing from the appropriate State authority and a waiver of any corporate excise tax.
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