110 Main Street, Wakefield, RI 02879
401-783-9333
What to Expect
When we represent you as a seller, we will draft the deed and all necessary documents to get the sale closed. This includes working with the buyer’s counsel and reviewing the final settlement statement. We thoroughly check this for accuracy, assuring you are not leaving money on the table.
Out of State Seller
As expected, the beauty of coastal Rhode Island has many second homes. When your primary residency is somewhere other than Rhode Island, there is an extra step that is required. We will need to file a an “election of gain” with the Rhode Island Division of Taxation and receive acknowledgement of such before the closing can proceed. Each case is a bit different and we can give you more information when we speak.
A Person on the Deed is Deceased
When we are grieving that last thing we want to think about are administrative tasks. However, this is not an uncommon issue that we see from time to time. When a loved one passes an estate tax return should be filed within nine months. If a return is not filed, in this case with the State of Rhode Island, the real estate CANNOT be sold until a release is issue by that agency. In many cases, depending on the complexity, your CPA or tax professional may need to supply us the information we will need to file and have the lien released. Should the estate be small enough and not complex we may be able to help you in house.
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