Condominium Sale: Seller’s Checklist
To ensure a smooth and efficient transaction, please assist us with the following information and documents at your earliest convenience.
At the outset of the transaction, we can also provide you with information regarding your estimated net proceeds of sale, and whether you may qualify for exemption from capital gains tax on the sale of your property. Please let us know when you are ready to discuss these two questions. Thanks.
Master insurance: Please provide the insurance company name and policy number (for condo owners). This information can be obtained from the Trustee of the Association, or from the property management company, if you have one.
Trustee / Management Company contact: Please confirm best contact for the management co.
6(D) Certificate: The 6D certificate is conclusive proof that you are current with all condominium fees, and will be recorded at the Registry of Deeds at a cost of $75 to the seller. Your real estate agent will coordinate delivery of the 6D certificate to our office prior to closing. This certificate must indicate that condo fees have been paid up to the end of the month in which closing occurs. We will allocate the per diem amount of the condo fee as of the day of closing as an adjustment on the settlement statement.
Owner’s policy of title insurance: If you have one, please provide us with a copy. If you are unable to find the policy, the attorney who handled your purchase transaction should be able to assist you. This will facilitate any discussions with the buyer regarding title to the property.
Mortgage payoff release information sheet: Please complete and return attached form, as well as providing a copy of your most recent mortgage statement
Current / Forwarding Address: Please verify your current address, and forwarding address if you will be relocating after the sale.
Social security number(s): For security reasons, please phone me with these.
Marital Status: If you are married please provide the name of your spouse. In not, please confirm.
Wire instructions for proceeds of sale: Please inquire with your bank for the complete wire instructions for receiving an incoming wire to your bank account. The routing number for this may be different than the routing number that appears on your checks, so it is important to verify the correct wire instructions with your bank. If you would prefer to receive your sale proceeds in the form of an attorney's escrow check let me know and wire instructions will not be needed.
Day of closing: Your presence is not required on the day of closing. I can attend the closing on your behalf with a specific Power of Attorney, which I will forward to you for your signature and notarization. I will also forward a copy of the Deed for your signature, which I will deliver to the buyer at closing. It is very important that you return the signed, notarized, original deed to my office prior to closing. Additionally, please ensure that you do not change the formatting of the deed when printing it out prior to signing.
If you would prefer to attend the closing, no POA would be necessary and you could sign the deed at closing and have it notarized by me.
Oil tank reading: If you have a fuel oil tank, you will need to schedule a final reading of the tank with your oil company, who would then provide you with a statement of the value of the oil remaining in the tank just prior to closing. You would then receive credit at closing for the value of the remaining fuel oil.
Title V Certification: If your property is served by an onsite waste disposal system ("septic system"), you will need to obtain a Title V certification from a sanitation engineer prior to closing.
Smoke detector inspection: If you have contracted with a real estate agent to represent you in the sale, he or she will arrange to have the city or town’s smoke and carbon monoxide detectors inspected. If you are not being represented by an agent, please contact your local fire department to arrange this inspection, and return the original certificate to me prior to closing.
If you have any questions, please do not hesitate to give me a call at 857-204-3864.