In order to ensure a smooth closing, we would like to make you aware of the following information:

1. MORTGAGES: If your property is presently mortgaged, the mortgage(s) will be paid off at the time of closing using proceeds from the sale.  Please complete the enclosed form and return it to us right away in order that we may contact the mortgagee(s) and make the necessary arrangements for payment. This is very important and requires your immediate attention. After your mortgages have been paid in full, the lenders will issue discharges which will be recorded at the Registry of Deeds.

In the event there is a non-institutional mortgage (i.e. one given to a private individual, trust or corporation as opposed to a bank or loan company), we will require that a written payoff statement showing the payoff amount be furnished to us before the closing and an original signed and notarized discharge be delivered at or before the closing. UNFORTUNATELY, THERE CAN BE NO EXCEPTION IN THIS REGARD. If you are uncertain about whether an outstanding loan is held by a private lender, please contact our office or have your attorney do so. The obligation to furnish a discharge at closing applies also to outstanding attachments or other liens, if any.

2. DEED: The preparation of a new deed to convey the premises to the buyer is your responsibility. You should have your attorney send us a copy of the proposed deed as soon as possible and before the closing date for our review. While we cannot represent you, we are sometimes asked to prepare a deed as part of our mortgage services. If you ask us to prepare your deed, there will be a charge to you of $150.00.

3. SMOKE DETECTOR and CARBON MONOXIDE CERTIFICATES: We call to your attention the provisions of Massachusetts General Laws, Chapter 148, Section 26E. You should contact your local fire department, arrange for an inspection, obtain a certificate of compliance and bring it with you at the time set for closing. (Please note that this does not apply in New Hampshire and Maine)

4. ELECTRICITY, WATER, SEWER, FUEL: Final utility and oil/propane readings are required to be obtained and forwarded to our office prior to closing, including a final municipal electric reading if your electricity is provided by a municipal light plant.  If payment of the final readings prior to closing is required by the Town, you should pay those final readings and provide us with copies of paid receipts prior to closing.

5. EXPENSES: You will also be required to pay for Massachusetts Excise stamps, recording fees to discharge mortgages and other liens and, where appropriate, to pay these items from the proceeds of the sale.

6. POWER OF ATTORNEY: If there is a power of attorney involved, please send our office a copy of the power of attorney document prior to the closing. Ordinarily, the use of the power of attorney will have to be approved by our client and then the form and content thereof must be reviewed by our office.

7. CONDOMINIUM UNITS: If the transaction involves a condominium unit, you are required to provide a certificate pursuant to Massachusetts General Laws, Chapter 183A, Section 6(d). This certificate is obtained from the organization of unit owners or the condominium management company and states the amount of any unpaid common expenses which have been assessed to the unit owner as of the date of closing.  You MAY also be required to provide a Certificate of Insurance.  The trustees of the condominium trust or the condo management company can assist you in this matter.

8. SALE PROCEEDS: If the closing takes place in our office, we will make every attempt to record papers and disburse funds on the same day. Your funds will not be released to you until the deed and mortgage have been recorded at the appropriate Registry of Deeds.  The net sale proceeds can be disbursed as our IOLTA check or by wire transfer directly to your attorney’s IOLTA account for  a $50 wire transfer fee (collected on the Closing Disclosure).  A wire form must be completed and signed with the original delivered to our office on or before the date of closing.

9. TRUST OWNERSHIP: If this property is owned by a trust, our office also requires a trustee’s certificate. This certificate should state that the trust has not been terminated, amended or revoked; that the trustee(s) are the same and they have not resigned; and that so far as may be required by the beneficiaries, they have assented to the transaction. In addition, the statement should be acknowledged before a notary public and be in the form suitable for recording. We can prepare such a certificate at a charge of $50.00 if you request us to do so.

10. TITLE EXAMINATION: Please note that if, as the result of searching the title or obtaining the plot plan and municipal lien certificate, we discover that there are any deficiencies or defects, they are your responsibility to correct or to have your attorney do so on your behalf or determine your rights, duties and obligations under your purchase and sale agreement.

11. CORPORATIONS: If you hold title to the property in a corporate name you should immediately take steps to obtain a Certificate of Legal Existence from the Secretary of State.