If your property is presently mortgaged, the mortgage(s) will be paid off at the time of closing using proceeds from your sale, as shown on the Settlement Statement. Please complete and sign the Seller Questionnaire and return it to us right away in order that we may contact the mortgagee(s) and obtain your final payoff amount(s). This is very important and requires your immediate attention. After your mortgage has been paid in full, the lender will send us a discharge which we will record 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 mortgage company), we will require that the payoff amount be furnished to us before the closing and a 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 also applies to any outstanding attachments or other liens against your property.
In most transactions, the seller(s) will choose to have Broker’s Title and Closing prepare the deed, to convey the property to the new owner. If you opt to have your attorney prepare the new deed, please provide us with the attorney’s contact information on the Seller Questionnaire. This will enable us to coordinate the finalization and receipt of the deed and apply the proper attorney fees to your Settlement Statement prior to the closing date.
As part of our settlement services, Broker’s Title needs to ensure that, if applicable to your property, all outstanding water and sewer bills are paid in full through the closing date. If necessary, we will secure a final water and/or sewer bill on your behalf to include on your Settlement Statement at closing. Please be sure to complete the relevant information contained on the Seller Questionnaire.
Conducting a thorough title examination is an integral part of the settlement services Broker's Title & Closing, LLC provides to its customers. Please note that if, as the result of our title search, we uncover any title deficiencies or defects, such issues must be resolved prior to your closing date. Broker’s Title & Closing will make every possible effort to help you clear all known matters in a comprehensive and expedient manner, keeping you updated during the process.
Since January 1, 1986 Federal Law requires the closing attorney to report the proceeds of the transaction to the Internal Revenue Service. Therefore, we ask you to complete the Seller Questionnaire that includes your Social Security or Federal Identification Number.
The State of New Hampshire imposes a transfer tax or tax stamps on all residential real estate transactions. This tax rate is currently equal to $15 per thousand of the selling price of the property which is then divided evenly between the buyer(s) and seller(s). Therefore, the amount that will appear on your Settlement Statement as part of your closing costs will be $7.50 per one thousand dollars of your purchase price, unless otherwise agreed upon in accordance with your signed Purchase and Sales Agreement.