05/12/2026
Counseling our Sellers on the Do’s and Don’ts once they sign the P&S Agreement to avoid any missteps which can cause closing delays that ends up costing time & money.
This is a quick list of 5 things Sellers should NOT do once they sign the P&S Agreement otherwise known as the Executory period:
1)Do not payoff your mortgage because we will not have a discharge in time
2) Do not draw on the open line of credit (unless you tell your attorney), so the payoff reflects it
3) Do not cancel the homeowners insurance, the contract requires you keep the home insured
4) Do not change your drivers license from RI because it will trigger a 6% non-resident tax
5) Do not pay any bills unless you discuss it with your attorney so that you can time the disbursements
Call us today if you need seller representation in RI, MA or CT, 401-885-3800
