How should a Seller prepare for their closing?

Many sellers often ask what documents should be brought to closing as well as the typical closing costs that they should expect to pay.  Below is a list of typical seller closing costs and documents that should be brought to the final closing.
 
1. The seller will be responsible for attorney fees.

2. A newly prepared deed conveying title to the buyer is required. Most bank attorneys will draw a deed for approximately $100. If registered land is involved, in addition to the deed, the seller must bring his Owner’s Duplicate Certificate of Title.

3. The state of Massachusetts requires excise stamps that will be charged to the seller.  The fees are $4.56 per $1,000 and are due at the time of title transfer.

4. The seller may have an outstanding balance on the mortgage or other liens that must be paid off at closing. Written notice is usually necessary for lenders to  release the pay off figures. The attorney fee to secure the pay off figure, to draw discharge and record is in the $100 range.

5. If there are any outstanding utility bills, these will be adjusted at the time of closing. 

6. The seller portion of the brokerage fee is due and payable at closing.

7. The seller has the obligation to pay for a smoke detector certificate.  This certificate must be issued by the fire department and must be ordered and coordinated well in advance, as no closing can take place without a recent (usually within 60 days) certificate issued by the fire department. Certificates issued for prior sales are unacceptable. 

8. The seller has the responsibility to request a certificate as to paid common charges (also known as a 6D Certificate and applicable to condominiums only).  This should be a notarized statement from the trustees or board of managers of the condominium certifying that all outstanding condominium fees have been paid as of the month of the closing.

9. The seller should bring their tax bill from the city or town, whether it is paid or unpaid.  If the seller has already paid the tax bill, a stamped receipt of the bill should be brought to closing.  The seller should also inform the conveying attorney before the closing that the bill has been paid and that you will be bringing your receipt. This, along with the municipal lien certificate (which will have been ordered by the Buyer’s attorney) document your lien status.

10. There may be outstanding holdback or escrow issues that need to be resolved.  These issues need to be discussed well before the closing date. Mortgage lenders have become more stringent about holdback agreements and require that they be approved by the lender prior to the closing.


It is very important for the seller to have all of the correct paperwork prepared and organized well in advance to ensure a timely closing.  If you have any questions, please feel free to ask your realtor.