Real Estate Articles

Important Notice About Your Closing (Buyers/Borrowers)

As you may know, our office represents your lender in matters relating to your request for a mortgage loan in order to purchase real estate. We have commenced an examination of the title and have ordered necessary information to complete the closing.

When these matters are completed and reviewed by our staff we will notify you to arrange a time to close the loan. We will also advise you of any funds you may need to complete the transaction. You must bring CERTIFIED or BANK CASHIER’S CHECKS made payable to our firm for these funds. In addition, you must bring a valid drivers license or passport with you to closing for proper identification. We cannot close your transaction without this. Please do not forget as this is very important. [Read more...]

Representing The Interests Of The Buyer In Real Estate

If this is your first home purchase, or perhaps you haven’t purchased a new home in a while, the process may seem confusing. We hope that our office can make the entire purchase process easy and enjoyable for you. There are a few things to remember.

First, understand that the lender’s closing attorney, and this includes our office if we are representing your new lender, represents the interests of the lender. Therefore, it is not the responsibility of lender’s counsel to advise you on your rights and obligations regarding your new home purchase. Because of this, we highly recommend that you retain your own attorney to represent your interests in this process. Our office can represent you, even if we are handling the closing for your new lender, for a reasonable fee and give you the comfort you need to proceed confidently toward the purchase of your new home. Some of the services we provide when representing buyers are: [Read more...]

What You Should Know About Your Closing (Buyers)

  1. INSURANCE: At the time of closing, please bring with you a homeowner Fire and Extended Coverage insurance policy or binder for such insurance either in an amount at least equal to the total of all new mortgages on the property or 100% of the replacement cost of all insurable buildings and other improvements on the land. IF YOU ARE GOING TO RELY ON THE 100% REPLACEMENT COST AMOUNT AS SUFFICIENT INSURANCE, THEN THE POLICY OR BINDER MUST STATE THAT 100% REPLACEMENT COST IS IN EFFECT. The insurance policy or binder must name all of the persons who will hold title to the property. The mortgage clause adding the mortgagee’s insurable interest to all policies MUST BE WORDED in accordance with the instructions listed in your commitment letter issued by your lender.

    Your insurance agent MUST fax or deliver to our office a copy of a binder for such insurance along with a receipt showing that the first year’s premium is paid in full, at least three (3) business days prior to closing.

  2. [Read more...]

Ways To Hold Title In Massachusetts

THE FOLLOWING INFORMATION IS INTENDED ONLY TO GIVE A BRIEF DESCRIPTION OF THE THREE COMMON WAYS OF HOLDING TITLE AND IS NOT PROVIDED FOR THE PURPOSE OF ADVISING YOU HOW TO TAKE TITLE. IF FURTHER INFORMATION IS DESIRED ABOUT CREDITORS’ RIGHTS AGAINST THE TITLE, ADVANTAGES AND DISADVANTAGES WITH RESPECT TO ESTATE PLANNING AND OTHER PRACTICALITIES, YOU SHOULD SEEK LEGAL COUNSEL FROM YOUR ATTORNEY OR RETAIN AN ATTORNEY FOR ADVICE IN THESE MATTERS.

In order to properly prepare the mortgage documents we require information from you as to how you intend to take title to the real estate.

The three most common ways two or more persons may hold title to real estate are: TENANTS IN COMMON, JOINT TENANTS or as TENANTS BY THE ENTIRETY (tenants by the entirety is only available for married couples.) [Read more...]

Our Certification Of Title To Buyers Of Real Estate

Our duties on behalf of the lender require that we examine the title to the premises. In addition, under the provisions of Massachusetts General Laws, Chapter 93, Section 70, we will also certify title to the premises you are buying. This statute states in part:

"In connection with the granting of any loan or credit to be secured by a purchase money first mortgage on real estate improved with a dwelling designed to be occupied or to be occupied in whole or in part by the mortgagor, the mortgagor is required or agrees to pay or be responsible for any fee or expense charged or incurred by an attorney acting for or on behalf of the mortgagee in connection with the rendering of a certification of title to the mortgaged premises such certification shall be referenced to the mortgagor and to the mortgagee."

The statute further prescribes that: [Read more...]

Closing Attorneys And The Closing Process – What You Should Know

Your application to your lender for a home mortgage loan leads you inevitably to the closing attorney’s office. You undoubtedly have questions as to what the role of the closing attorney is, what tasks the closing attorney will perform and what will take place at the closing. First, understand that the closing attorney represents the interests of the lender. If your loan is a standard secondary market type loan, the loan transaction and loan documentation are uniform throughout the state.
[Read more...]

Title Insurance And Its Importance In Your Transaction

Real estate title insurance very simply is an insured statement of the conditions of one’s title or ownership rights to a certain piece of real estate. The policy guarantees that the property being purchased or mortgaged is free from undisclosed liens or rights and it guarantees additionally that any confusion as to rights of ownership will be resolved in favor of the party owning the real estate or the title insurance company will be liable for loss in value to the policy holder up to the policy limits.
[Read more...]

Important Information Regarding Your Closing (Sellers)

If our office has been asked to act as settlement agent in the closing of the real estate you are selling, there are some matters that we will require your assistance with in order to expedite the transaction and prevent delays or extra costs to you. They are listed below. Please also remember that you must bring a valid drivers license or passport with you to closing for proper identification. The closing cannot take place if you do not have this identification with you. In order to ensure a smooth closing, we would like to make you aware of the following information.
[Read more...]

Representing The Interests Of The Seller In Real Estate Transactions

Our office specializes in real estate conveyancing. We are prepared to represent you in the sale of your real estate and to make the entire process easy and enjoyable for you.

Unless we are representing one of the other parties in your sale our office can represent you for a reasonable fee and give you the comfort you need to proceed confidently toward the sale of your home or investment property as well as in the purchase of any new real estate. Some of the services we provide when representing sellers are:
[Read more...]