Seller Representation
- Drafting a Seller oriented Purchase and Sale Agreement;
- Negotiating the Purchase and Sale Agreement with the Buyer’s attorney;
- Drafting the Deed;
- Drafting the Power of Attorney;
- Obtaining the Mortgage Payoff (if applicable);
- Providing your wiring instructions to the Closing Attorney;
- Reviewing the Settlement Statement;
- Attending the Closing;
- Ensuring that the Closing Attorney records the deed in a timely manner and delivers the net proceeds to you (typically by wire)
Massachusetts imposes an excise tax upon the transfer of any deed, instrument or other writing whereby realty is conveyed to a purchaser. The excise is based upon the consideration given for the property and applies whenever the consideration, exclusive of the value of any lien or encumbrance remaining on the property, is greater than $100. The tax is paid by the person making or signing the deed and is evidenced by a stamp affixed to it. The tax is $2.28 for each $500 or fraction of consideration. The excise tax is collected by the closing attorney at closing and is deducted from seller's proceeds on the final settlement statement. Here is the excise tax calculator from the Suffolk Registry website (the rate is the same for all counties in MA except Barnstable County, Nantucket and Dukes Counties which have different rates and taxes- please inquire separately for those counties). https://massrods.com/suffolk/excise-tax-calculator/