Nov 15, 2024 | Buying Real Estate, Home Buyer Tips, Homebuyer Tips, Real Estate, Real Estate Agent Information, Real Estate Tips
Buying a home is one of the most exciting and important decisions you’ll ever make. It’s a significant milestone, but also a complex process with a lot of moving parts. Whether you’re a first-time homebuyer or a seasoned homeowner, it’s crucial that you feel confident every step of the way—and that includes your closing.
When you’re nearing the end of the home-buying process, one aspect that’s often overlooked is the role of your closing attorney. Here’s the good news: In Massachusetts and New Hampshire, you have the right to choose your own closing attorney. Yes, you have the power to select someone who will be there to guide you, protect your interests, and ensure a smooth closing.
What Exactly Does a Closing Attorney Do?
A closing attorney plays a key role in making sure everything goes smoothly at the finish line. They handle a lot of important details to make sure your home purchase is legitimate, legally sound, and properly executed. Here’s a quick overview of their role:
- Reviewing and explaining documents: They’ll go through the purchase agreement, mortgage documents, and other legal paperwork to make sure everything is in order.
- Title review: They’ll ensure that the home you’re buying has a clear title, meaning there are no legal claims against the property.
- Disbursement of funds: The attorney ensures that all the funds are distributed correctly at closing, including payments to the seller, real estate agents, and any other parties involved.
- Notarizing documents: They will handle any necessary notarization of documents to make the closing official and legal.
- Guiding you through the closing: They’ll be there to explain the process, answer your questions, and help you understand the terms of your agreement.
Why Should You Choose Your Own Attorney?
In many cases, lenders or real estate agents may suggest a particular attorney or title company to handle the closing. While it’s not uncommon for this to happen, it’s important to understand that you are not required to use their choice of attorney.
Why is this so important? Because when it comes to the closing of your home purchase, you want someone who has your best interests in mind—not the interests of a lender or seller. Your closing attorney’s role is to protect you throughout the entire process, and that includes making sure the paperwork is accurate, the title is clear, and that no last-minute issues arise.
If you feel more comfortable with someone else, or if you have a trusted attorney you’ve worked with before, it’s your right to bring them into the process.
How to Find a Closing Attorney
If you’re wondering how to find a qualified closing attorney, don’t worry—you’ve got options. Start by asking your real estate agent for recommendations. Many agents work closely with experienced attorneys and can point you in the right direction. Alternatively, your local bar association often offers a lawyer referral service, which can help you find a reputable attorney in your area who specializes in real estate law.
It’s also a good idea to interview a few attorneys before making your decision. You’ll want to ask about their experience with real estate transactions, their approach to the closing process, and what their fees are. It’s important that you feel comfortable and confident in your choice.
Why You Should Care About Your Closing Attorney
Ultimately, the closing attorney is there to safeguard your interests. You’ve likely spent months—or even longer—searching for the perfect home, securing financing, and navigating the complexities of the real estate market. The last thing you want is to rush through the closing process without fully understanding the terms of your deal.
By selecting your own attorney, you can rest easy knowing that you’ve got someone on your side, advocating for your best interests, and ensuring everything is done right.
Don’t Let Anyone Rush You
It’s easy to get caught up in the excitement and feel pressure from various parties involved in the transaction. But remember: the closing is your moment, and you deserve to feel confident about every decision, including who represents you.
Take a moment to select an attorney who will guide you through the process with transparency, integrity, and expertise. After all, buying a home is a big investment—and you deserve to have peace of mind that everything is being handled professionally.
Take Control of Your Home Purchase!
As you move toward closing on your new home, remember that you have the right to choose your own closing attorney in Massachusetts and New Hampshire. This is an important part of the process, and it’s essential that you feel fully supported and protected. If you’re unsure where to start, reach out to your real estate agent or local bar association for recommendations. The right closing attorney can make all the difference in ensuring your home-buying experience is a smooth and successful one.
Want to learn more about the home-buying process or need recommendations for trusted closing attorneys? Reach out today—we’re here to help you every step of the way!
Providing title, escrow, closing and settlement services to clients throughout Massachusetts and New Hampshire
“I would highly recommend David as a closing attorney. I have known David and have been using his office for many years. David’s professionalism when dealing with me, my closing department and most especially my clients has been always exemplary.”
SENIOR LOAN OFFICER, SHAMROCK FINANCIAL SERVICES
“The Law Office of Attorney David R. Rocheford, Jr. is by far the most exceptional real estate law office that I have had the pleasure of working with. The professionalism is by far second to none.”
SENIOR LOAN OFFICER, SALEM FIVE MORTGAGE SERVICES
“Attorney David Rocheford has provided settlement and title services for me and Greenpark Mortgage several years. He has assisted all of my clients, including my family and friends with mortgage closings. Always providing excellent service. Reliable and trustworthy!”
Oct 23, 2024 | Home Buyer Tips, Home Seller Tips, Homebuyer Tips, Homeowner Tips, Mortgage Tips, Real Estate, Real Estate Tips
What is the Homestead Act and How Does It Protect You from Creditors in Massachusetts?
The Massachusetts Homestead Act (MGL c. 188) is designed to protect the equity in your primary residence from being claimed by unsecured creditors. With the recent changes under the “Affordable Homes Act,” homeowners who have filed a *declared homestead* can now shield up to $1,000,000 of home equity from creditors. For elderly (age 62 or older) and disabled homeowners, the protection is even greater: eligible homeowners can “stack” their exemptions, safeguarding up to $2,000,000 in equity.
This protection applies to unsecured debts, meaning that creditors cannot force the sale of your home to recover these types of debts if you have filed a homestead declaration. However, it is essential to understand what this act does not cover.
What is the Elderly Homestead Exemption in Massachusetts?
The *elderly homestead exemption* allows homeowners who are age 62 or older to further protect the equity in their principal residence. By filing a homestead declaration and meeting the age requirement, elderly homeowners can “stack” their exemptions with other qualifying residents, effectively doubling the equity protection to $2,000,000. This provision also applies to disabled homeowners who meet specific disability criteria.
This expanded exemption offers significant peace of mind, ensuring that a substantial amount of home equity remains secure in the event of financial difficulties.
What is Not Protected by a Declared Homestead?
While the Massachusetts Homestead Act provides robust protections, it does not shield against all claims. The following types of debts and obligations are *not* covered by a declared homestead:
- Secured Debts: Mortgages, home equity loans, and property tax liens. If you default on your mortgage or property taxes, the lender or the government can still foreclose on your property.
- Spousal or Child Support Obligations: Court-ordered payments related to divorce or family support are not protected under the homestead declaration.
- Liens for Work Done on the Property: Mechanic’s or contractor’s liens resulting from work or improvements on the home are not exempt.
- Certain State or Federal Liens: Examples include IRS tax liens or state tax obligations that override the homestead protection.
Can a Lien Be Placed on a Homestead Property in Massachusetts?
Yes, a lien can be placed on a homestead property in certain situations. For instance, if you owe money for unpaid taxes, a creditor like the IRS or the Massachusetts Department of Revenue can place a lien on your home, even if you have filed a homestead declaration. Similarly, if a creditor wins a lawsuit against you and secures a judgment lien, they can place it on your property. However, the Homestead Act ensures that your home cannot be forcibly sold to satisfy *unsecured* judgment debts up to the protected amount.
It is important to seek legal guidance if you are concerned about potential liens or creditor claims affecting your homestead protection.
Providing title, escrow, closing and settlement services to clients throughout Massachusetts and New Hampshire
“I would highly recommend David as a closing attorney. I have known David and have been using his office for many years. David’s professionalism when dealing with me, my closing department and most especially my clients has been always exemplary.”
SENIOR LOAN OFFICER, SHAMROCK FINANCIAL SERVICES
“The Law Office of Attorney David R. Rocheford, Jr. is by far the most exceptional real estate law office that I have had the pleasure of working with. The professionalism is by far second to none.”
SENIOR LOAN OFFICER, SALEM FIVE MORTGAGE SERVICES
“Attorney David Rocheford has provided settlement and title services for me and Greenpark Mortgage several years. He has assisted all of my clients, including my family and friends with mortgage closings. Always providing excellent service. Reliable and trustworthy!”
Jun 22, 2023 | Homebuyer Tips
Buying a new home is an exciting and significant milestone in anyone’s life. However, it’s essential to approach the homebuying process with caution and thoroughness to ensure that you’re making a sound investment. One crucial step in the homebuying journey is the home inspection. A home inspection is a comprehensive evaluation of a property’s condition, aiming to uncover any potential issues or concerns that could affect its value or safety. Below are some tips to remember when navigating a home inspection.
Roof and Exterior:
The roof is your home’s first line of defense against the elements, so it’s crucial to examine it closely. Look for missing or damaged shingles, signs of leakage, and the overall condition of the roof.
Structural Integrity:
A solid foundation and sound structure are vital for the long-term stability and safety of your home. Inspect the foundation for cracks, unevenness, or signs of settling. Look out for any sagging or uneven floors, as they could indicate structural issues.
Plumbing and Electrical Systems:
Faulty plumbing or electrical systems can lead to significant problems and costly repairs. Test the faucets, showers, and toilets to ensure proper water flow and drainage. Check for leaks under sinks and around toilets. In terms of electrical systems, inspect the circuit breaker panel and look for any exposed wiring, outdated systems, or potential fire hazards.
HVAC Systems:
Heating, ventilation, and air conditioning (HVAC) systems are critical for maintaining a comfortable living environment. Have the HVAC systems thoroughly inspected to determine their condition and efficiency.
Insulation and Energy Efficiency:
Good insulation and energy-efficient features can greatly impact your home’s comfort and utility costs. Check the insulation in the attic, walls, and crawl spaces to ensure they meet the recommended standards. Inquire about the home’s energy efficiency features, such as double-pane windows, energy-efficient appliances, or renewable energy installations.
Pest and Mold Inspection:
Pests and mold can pose health risks and cause extensive damage to a home. Look for signs of pests such as droppings, chewed wood, or insect nests. Ask the inspector about any past or present pest infestations and the steps taken to address them.
A home inspection is a crucial step in the homebuying process that helps you make an informed decision about your investment. By paying close attention to the areas mentioned above, you can identify potential issues and negotiate repairs or adjustments with the seller. A thorough home inspection can provide peace of mind and ensure that you’re buying a home that meets your expectations in terms of safety, functionality, and value.
Jul 7, 2022 | Homebuyer Tips
You’re ready to purchase a home, but you’ve looked at everything on the market and can’t find the perfect place. You’ve researched the school districts, neighborhoods and nearby amenities, and you know exactly in which area you want to live.
However, anything that comes on the market in that part of town gets snapped up immediately.
It’s time to get creative when it comes to buying a home. Start looking at places that are not currently for sale. You might have driven past your dream home, but you never thought of going the unconventional buying route.
Well, take a look at the tips below to see how you can close on a home without any other buyers knowing.
Look At Previously Listed Homes
Search homes that were on the market, but the owners took them off. Many homeowners let their listing expire and are waiting until the market improves. This is fortunate for you, because you know they are already interested in selling.
Research Online County Records
If you see your perfect home, but you don’t want to just walk up to the door and demand they sell their house, you can find their contact information online. Property records include the owners’ name, address, and, sometimes, their contact information. This will allow you to go through the proper channels of proposing an offer.
Consider A Real Estate Agent
A seller is more likely to take you seriously if a real estate agent brings the offer to them. Agents deal with sellers all the time and will be able to gage if the homeowners are interested.
They’ll also be able to tell you the right price to offer and how you should go about it. You’ll also have piece of mind that all the paperwork that comes with buying a home is completed correctly.
Write A Personal Letter
While all the guidelines say to keep personal feelings out of the home selling process, it’s practically impossible. A home is the place where you raise your children and make memories.
So write the homeowners a heartfelt letter about how you’d like to build a life in their current house. If they think you’ll care for their place as much as they do, they might entertain an offer.
Offer A Fair Price
Many homeowners are ready to upgrade, but hate the idea of getting their current residence ready to sell. They’d have to clean, clear clutter, stage and keep everything looking spotless until they close the deal — which can be quite a hassle.
So, make it convenient. Offer a price that won’t offend and will have them thinking how this could be a stress-free transition.
Dec 10, 2021 | Homebuyer Tips
If you enjoy history and fixing things, then it may be hard to drive by historic homes for sale without feeling the urge to buy one and fix it up.
Before you do, you need learn the three R’s of fixing up historic homes and the differences between them.
The three R’s of fixing up historic homes are restoration, renovation and repair. Some of the differences are minor, but they can make all the difference in cost, time and problems.
Restoration
“Restoration” literally means returning something to its original state.
Restoring historic homes for sale involve city and state programs. It’s essential that you check to see if the home is listed on the National Register of Historic Places (NRHP) or if it’s located in a historic district.
If either of these is the case, there is a specific set of rules that you must follow while renovating.
Cost: Restoration is not a cheap endeavor. For a home to keep its historic value, the materials used need to match the original materials, including furnishings. These can be very expensive due to their antique value.
Renovation
Renovating is less complicated than restoring, at least when talking about what you can and can’t do. However, with a renovation, you’re generally turning the home into a more modern living place, which lowers its historic value. Make sure it isn’t listed in the NRHP or located in a historic district.
Cost: Depending on the amount of renovations, i.e., modernizing, gutting or remodeling, this can also be expensive. However, it’s much easier to find deals on modern appliances than it is on antiques.
Repair
Repairs differ because they generally aren’t as in depth as the others. For restoration repairs, it’s important to use materials that fit the house, such as plaster walls and wooden floors. For renovation, original materials aren’t as important.
Cost: Again, the cost depends on the number of repairs, as well as, whether you’re keeping the historic value.
Whether restoring, renovating or repairing historic homes for sale, the key is cost. Don’t get so caught up in the possible that you miss the probable. Thinking of buying or selling an historic home? I can help! Call your trusted real estate professional today.
May 25, 2021 | Homebuyer Tips
The housing market has been through many ups and downs during the past 12 months. Now, buyers are facing a unique challenge as they try to find the right house in the perfect seller’s market. Right now, real estate is extremely competitive, as low inventory has continued for several months.
As mortgage rates remain low, more people are looking for homes, increasing the competition. Some people are reluctant to sell because they know they will face the same challenges of trying to find a new home themselves. As a result, the housing market has record-low inventory making it difficult for buyers to find the right house in their budget.
Builders Have Not Constructed As Many New Homes
While a reluctance to sell is one reason why the housing market has become competitive, it is not the only one. There has also been a lack of new homes built during the past decade. From 2000 to 2010, builders constructed more than 12.6 million new homes, creating more inventory for those looking to buy. From 2010 to 2020, only 6.5 million new homes were constructed.
This number is significantly lower than the rate of new household formation, which has continued to go up. The result is an extremely competitive market for anyone looking to purchase a house in the current market. While builders are working hard to keep up with demand, it will take some time for them to catch up.
Buyers Must Remain Patient During This Challenge Time
Because the housing market is so competitive, many buyers find themselves facing bidding wars, where multiple buyers make offers on the same home. This drives up the sale price of the house, increasing property values in the surrounding area. This simply makes it more competitive for those still looking to buy.
Therefore, buyers need to remain patient. Low inventory will not remain at a low forever, and builders continue to construct new homes. It takes between four and eight months to build new homes, and more houses will come on the market as families consider moving in the wake of the pandemic. Patience is the key to finding the right home in the current market.
