Seller Info

We will need to take a copy of your valid, unexpired driver’s license or government-issued photo ID at closing.

One of our key responsibilities is conducting a thorough title examination. This process verifies the property’s history, ensuring there are no outstanding claims or title defects that could impact your ownership.

If the property is a condominium, a Condominium No Lien Certificate will need to be obtained. This certificate ensures there are no unpaid fees, common expenses, or special assessments due. Most associations charge a fee for this service, which varies. The fee will be added to your Settlement Statement and collected at closing.

If your property has public water and/or public sewer, we will order a final reading of these utilities so these charges can be paid at closing.

Mortgage interest is accruing every day since your last payment; i.e., if you paid on the 1st of the month and you are closing on the 15th, you will owe daily interest from the 1st until the date the payoff is received by the lender. In addition to the interest on the mortgage, there may be charges added to the payoff for late fees, fax fees, escrow deficits and prepayment penalties. Your principal balance on your statement is not the payoff amount.

It is critical that the payoff of your mortgage be received quickly to eliminate the daily interest cost. Mortgage payoffs are sent by wire or overnight mail for that reason, as well as the added assurance of tracking and receipt signature. There is a charge of $50 for each mortgage that needs to be wired or express mailed. Once the mortgage is paid off, a Mortgage Discharge must be recorded in the Registry of Deeds. The cost of obtaining this discharge and recording it at the Registry is your responsibility. There is a charge of $75 for each mortgage that needs to be discharged.

You are responsible for the preparation of the new deed from yourself to the new buyers. If you do not have an attorney to prepare the deed for you, we will be happy to assist. Our fee for deed preparation and legal review by outside counsel is $250. Please note that all owners of the property, as well as their spouses, must be present at closing. If this is not possible, please notify us immediately so alternate arrangements can be made.

Taxes in New Hampshire are generally paid semi-annually in July and December. The tax period is a fiscal year and not a calendar year and runs from April 1st to March 31st of the next year. The July tax bill covers 4/1 to 9/30, and the December bill covers 10/1 to 3/31. Further, the July tax bill does not reflect the actual year’s tax rate. The tax rate is determined in October and reflected in the December bill every year. The July tax bill is one-half of the previous year’s taxes, and if your closing happens prior to the determination of the year’s tax rate, there may be further proration between buyer and seller in December.

In Maine Taxes are generally paid semi-annually in September and March. The Tax period is a fiscal year and not a calendar year and runs from July 1st to June 30th of the next year. The tax rate is determined in in late summer or early fall, between July and September.

The settlement statement (closing Disclosure or ALTA) will show the prorated tax amounts as a credit or debit to the buyer and you the seller.

In New Hampshire, the real estate transfer tax is $15.00 per $1,000 of the sales price. This cost is shared equally between the buyer and seller.

Example: A property selling for $200,000 incurs a $3,000 transfer tax, with $1,500 paid by the buyer and $1,500 paid by the seller.

In Maine, the transfer tax is $4.40 per $1,000 of the property’s selling price, also split evenly between buyer and seller.

Example: A home sold for $200,000 results in a $880 transfer tax, with $440 paid by the buyer and $440 paid by the seller.

Transfer tax, as with all fees, will be shown on the final Settlement Statement and subtracted from your proceeds. We will handle all disbursements. You will not need to write personal checks.