Buying a home is a major transaction and likely the largest one that most of us will ever experience. Selling a home is no less significant and in either case, we want the process to be smooth and efficient with as few headaches and delays as possible. Closing on a home in Revere can be much more manageable and even a pleasant experience if you have the right Revere closing attorney who has handled these transactions countless times.
Some states, Massachusetts included, require that a real estate lawyer be present at a closing. Instead of retaining a lawyer at the last minute, consider hiring your attorney when you begin your search for a home or are seriously considering selling a property. Having a Revere real estate attorney early in the process can make it less likely that there will be delays that could have been avoided if a knowledgeable real estate lawyer was there to oversee the transaction at the beginning.
What Does a Closing Attorney Do?
While your real estate agent is undoubtedly experienced, your attorney can review documents for accuracy and see that funds are transferred, taxes paid and no cloud on the title exists. Your attorney is not just a passive observer at a closing, but is required under Massachusetts law to actively oversee the closing process. Some of these duties include:
- Reviewing the Agreement of Purchase and Sale
- Certifying good and marketable title
- Ensuring that prior mortgages and liens are paid and discharged
- Obtaining title insurance
- Assessing the land transfer tax and seeing that it is paid
- Drafting a statement of prepaid expenses
- Making sure all required disclosures have been made
- Preparing the deed
- Reviewing all loan documents
- Looking for typos on transaction documents
- Seeing that all conditions have been met
- Exchanging documents, funds, keys and other relevant documents
- Ensuring that the deed and mortgage are properly transferred
- Answering any concerns you have
Massachusetts law, like most states, requires certain disclosures of material issues that can affect the value of a property or your decision whether to buy or not. For other matters, you have to ask the seller if certain conditions may exist. A Revere real estate lawyer, such as Deborah Gold-Alexander, can be instrumental in this process by advising you on what questions need to be asked and if material disclosures were made that, if not, could cost you thousands of dollars and years of possible regret.
Delays from missing documents, bounced checks, clouds on title and misrepresentations can cost you dearly. Your attorney can help you with these essential matters and give you the best opportunity to have your transaction proceed with minimal obstacles.
Retain Deborah Gold-Alexander, a Revere Real Estate Lawyer
Deborah Gold-Alexander has been representing the interests of buyers and sellers at closings in the Revere and surrounding areas for over 25 years. Let an experienced real estate attorney assist you with one of the most important transactions of your life by calling Deborah Gold-Alexander at (781) 289-4235 for an evaluation of your real estate needs.