Boston High-Rise Condos for Sale and Rent

What Is Important to Know About Mortgages and Loans During the Closing?

If you are selling Boston Midtown high rise condo and you have a mortgage or you have an equity loan, you will have to provide that information to the closing attorney prior to the onset of the sale. Your attorney will inform you which financial documentation are required, such as the name of the mortgage company, the account number, and the property’s address. In addition, you will be require to provide the last statement that you have received from the mortgage or home equity loan company, which will contain all of the above information.

Prior to selling your Boston Midtown High Rise Condo

When the deal is about to close, the closing attorney will contact the lender and the home equity company to make certain that we get pay-off statements. Those pay-off statements are going to set for the amount due, and we will calculate the interest so that we are able to pay off the mortgage. Once the mortgage is paid in full, within 30 days, the mortgage company will issue a satisfaction, or a discharge of mortgage, which we file in the local county clerk’s office.