Selling property in Rhode Island involves more than just finding a buyer. From required disclosures to closing costs, understanding the legal and financial responsibilities ahead of time can help make your sale smoother and legally sound. At Tomassi Law, LLC, we assist individuals in Warwick and beyond with clear guidance through every step of the process.

Understanding Rhode Island’s Property Disclosure Laws

Rhode Island law requires sellers to provide a written property disclosure form to potential buyers. This includes information about:

• Structural or environmental defects
• History of flooding, fires, or pest infestations
• Condition of appliances and systems
• Legal use of the property

Failing to provide this disclosure can lead to delays, renegotiations, or legal liability.

Reviewing Title and Resolving Liens

Before listing your property, it’s important to confirm that your title is clear. A title search may reveal:

• Outstanding mortgages
• Unpaid taxes
• Mechanics’ liens
• Easements or boundary issues

Addressing these early helps prevent surprises during closing.

Rhode Island Real Estate Transfer Tax

Rhode Island charges a real estate conveyance tax—commonly referred to as a transfer tax—on the sale of real property. As of now, sellers are typically responsible for this tax. Rates may vary depending on the sale price, and exemptions may apply in certain circumstances.

Inspections and Appraisals

While buyers often arrange inspections, sellers should be prepared to negotiate based on inspection results. Pre-listing inspections can help identify and address concerns in advance. Additionally, a lender’s appraisal must support the agreed-upon price for financing to proceed.

Closing Costs and Legal Representation

Sellers in Rhode Island may incur costs such as:

• Title preparation fees
• Transfer taxes
• Attorney’s fees
• Broker commissions

Having an attorney review or draft the purchase and sale agreement ensures that your interests are protected and that the transaction complies with Rhode Island law.

When to Consult a Real Estate Attorney

Although it’s not legally required for a seller to have an attorney in Rhode Island, doing so can help you:

• Avoid errors in contracts or disclosures
• Resolve title or lien issues
• Understand your tax obligations
• Handle disputes that arise before or during closing

At Tomassi Law, LLC, we work closely with clients in Warwick and surrounding areas to ensure property sales go as smoothly as possible.