Seller's Closing Costs and Other Items
- Attorney Fees for Deed: Seller attorney fees are approximately $125.00 for a newly prepared deed conveying title to the buyer. In the event the Seller does not have an attorney, most bank attorneys will draw a deed for a fee. Adequate notice of a request to prepare a new deed is needed.
- Excise Stamps: $4.56 per $1,000.00 of sale price. Massachusetts excise stamps are charged to the Seller upon transfer of title.
- Mortgage Liens: Outstanding mortgages or other liens which are outstanding must be paid off at closing. Often written notice is necessary before lenders will release the pay off figures. There may be attorney fees to secure pay off figures, draw up discharge, and record the same.
- Mortgage points: If applicable.
- Water, Sewer, Oil: Adjustments to the final water bill, sewer, and oil readings are presented and recognized at closing.
- Brokerage Fee: Brokerage fee covering the agreed upon percentage of selling price is due and payable at closing.
- Smoke and Carbon Monoxide Certificate: A smoke detector certificate and carbon monoxide certificate must be issued by the fire department. The ordering of this must be coordinated well in advance, as a closing cannot take place without a recent (usually within 60 days) certificate issued by the fire department. Certificates issued for prior sales are unacceptable. Costs for this certificate are the obligation of the Seller.
- Tax Bill: If the Seller has received the tax bill from his city or town, it should be brought to the closing whether paid or unpaid. If the tax bill is paid, the Seller should bring a stamped receipt. The Seller should inform the conveying attorney prior to the closing that a “paid tax” receipt will be brought to the closing. This receipt, along with the municipal lien certificate (which will have been ordered by the Buyer’s Lender’s attorney), documents the lien status.
- Holdbacks or Escrows: If there are to be holdbacks or escrows because of outstanding issues, these issues must be discussed well before the closing date. Mortgage lenders have become more stringent about hold-back agreements and require that they be approved by the lender prior to closing.
- Assessment – Condominium 6D Certificate: For condominiums, a certificate as to unpaid common charges and/or assessments, if any, (also known as 6D Certificate) is required at closing in the form of a notarized statement from the trustees or board of managers of the condominium certifying that all outstanding condominium fees and/or assessments, if any, have been paid as of the month of the closing. Costs for this certificate are the responsibility of the Seller.
[PDF] Seller's Closing Costs (1.08 MB)
Seller's Closing Checklist
Click on the link below to view a checklist of what to look out for when closing a sale.
[PDF] Sellers Closing Checklist (911 KB)