Century 21 Associates Realty LLC 
     Karen J. McLinden
      Phone 508-677-3233
       Fax 508-679-2006
       657 Pleasant St., Fall River, MA 02721 
                                                                                                                                   
 
Residential Real Estate, Commercial Real Estate, New Construction, Investment Property, Rentals, First Time Home Buyers, Relocating Assistance, Short Sale Assistance.   Areas Include But Not Limited To: Fall River, MA - Swansea, MA - Somerset, MA - Westport, MA - Dartmouth, MA - Tiverton, RI - Assonet, MA - Freetown, MA - Berkley, MA - Taunton, MA - Dighton, MA - Rehoboth, MA - Seekonk, MA - Warren, RI - Portsmouth, RI - Middletown, RI - Little Compton, RI - New Bedford, MA - Lakeville, MA - Middleboro, MA - Fairhaven, MA -   Wareham, MA

  • Home • Up • Buyers • Sellers • Local • News & Info. • About • Art by Karen •
 

Here are some expenses you can expect:

After you have a Purchase and Sale on your property the Buyer will usually have a Home Inspection, at their expense.  Sometimes there are repairs or re-negotiations at this point.  Just like the offer you can work it out to the agreement of both parties.  

Once we have commitment from the bank I will schedule a smoke certificate inspection for you.  The fire department will go in and check your property to make sure that it complies with fire code.  There is a fee for this. It is paid at the time of the inspection.  It varies by town but I can find out the current expenses and let you know.

I will also set up an appointment for a final water reading if you have public water.  This will happen just before closing and the balance and transfer fee will be deducted from your proceeds at the closing. 

If you are selling an income property you will have to prorated rents and pay back any security deposits or last months rents that you are holding.  These can sometimes be deducted from your proceeds but usually the Seller comes into the closing with a check for the Buyer to cover this.  Let me know ahead of time what you prefer and I can check with the closing Attorney. 

All of the following expenses will also be deducted from your proceeds.  You may have closing costs for the buyer if it was negotiated at the time of the Offer.  If not you will have closing costs on your side of the transaction.  You may hire an Attorney to represent you.  You will need to pay their fee.  If you do not have your own Attorney you can pay the bank's Attorney to draw up the deed for you.  Their fees varies so you should call and ask them what the charge will be before you make your decision.  You may also need to pay for a Municipal Lien Certificate, to find out what your final tax pay-off is and fees to obtain your final Mortgage pay-off.  Some mortgages have pre-payment penalties, call your bank or mortgage company to see if your mortgage has any.  

If you are selling property in Rhode Island and you are a resident of another state at the time of closing you will be charged 6% of your gain as an additional Rhode Island Tax.

You will also be required to pay Tax stamps at the closing.  In Massachusetts you will pay approximately $4.56 for every $1000.00 dollars of the sale price.  So if your property sold for $100,000 you would pay $456.00.  In Rhode Island the tax stamps are $4.00 per thousand and $2.80 per thousand for mobile homes. 

If you have any questions please feel free to call or e-mail me.

 

Back to top

 

 

 

 

 

 2013, Karen McLinden & Century 21 Real Estate LLC. CENTURY 21 is a registered trademark licensed to Century 21 Real Estate LLC. Equal Housing Opportunity. Each Office is Independently Owned and Operated.

 

 2013, Karen McLinden & Century 21 Real Estate LLC. CENTURY 21 is a registered trademark licensed to Century 21 Real Estate LLC. Equal Housing Opportunity. Each Office is Independently Owned and Operated.