Arrange for payoff of loans. The seller should advise its bank of the projected closing date and request a pay-off letter.Contact Ronald Weiss, Esq. Payoff letter and payment must be made at closing. Arrange for payoff of loans. The seller should advise its bank of the projected closing date and request a pay-off letter. See Real Property Law Section 321 to determine who must sign the satisfaction b. Must have verified payoff letter from lender's attorney c. TERMS AND CONDITIONS OF THE LOAN DOCUMENTS - THIS MAY AFFECT THE PAYOFF AMOUNT OF THE LOAN. This is In no way letter intended and you must not rely statement as a payoff letter upon this forpurposes off of paying your mortgage. 2.