When you are purchasing a home in Massachusetts, it is generally a good idea to work with an experienced real estate attorney. A residential real estate transaction should be reviewed by an attorney beginning with the purchase and sale agreement. As Attorney Knight has so often discovered, there may be clauses in an agreement that can cost buyers significant monies if they are overlooked.
Real Estate Attorneys Role in MA Real Estate Transactions
From the outset, your attorney can review your purchase and sale agreement for inconsistencies and help you with negotiations with your seller if necessary. Once an acceptable version of the agreement is signed, Attorney Knight will continue to represent your interests and help you with any necessary legal documents to complete the process.
Once a lender has approved your loan, your attorney’s role will be significant. Some of the tasks they will be responsible for include:
- Property Title – your attorney will search the title, and verify that all title issues are successfully resolved prior to closing. He will also help with the issuance of title insurance.
- Current mortgages and liens – payoff amounts will be obtained from the current mortgage holder and the amounts of all liens that are against the title will be recorded so they can be paid off at closing.
- Taxes and other charges – your attorney will verify that any property taxes that are due to the municipality as well as any other charges (water abatements, etc.) are paid or slated to be paid at closing.
- Closing processes – a MA real estate attorney will also help prepare the closing figures for your HUD-1 settlement statement, conduct the closing and collect and disburse funds. He will also be responsible for explaining to you and the seller what documents will have to be signed at closing. Finally, all documents will be properly filed with the Registrar of Deeds in the appropriate county.
As you can see, the real estate closing process can be complex since there are numerous documents which must be researched and filed. Attorney Knight has more than 10 years’ experience handling these types of transactions and can help make the closing process as stress-free as possible.
If you are considering buying a home, or if you have already signed a purchase and sale agreement, contact the Law Office of Byron J. Knight, LLC., at 617-863-2529 for assistance with all your Massachusetts residential real estate closing needs.