Apr 15, 2025 | Consumer Tips, Home Buyer Tips, Home Buying Tips, Home Closings, Home Seller Tips, Home Selling Tips, Homebuyer Tips, Homeowner Tips
Closings should be the fun part — popping champagne, handing over keys, and celebrating the finish line. But anyone in real estate or lending knows that even the smoothest transaction can hit a snag at the eleventh hour. From unsigned documents to overlooked municipal requirements, the final stages of a home loan closing in Massachusetts and New Hampshire can turn from celebration to chaos quickly.
Here are some common culprits behind last-minute delays and what loan processors, Realtors®, and mortgage teams can do to keep things on track.
Smoke Certificates & Local Requirements (Massachusetts Specific)
In Massachusetts, sellers are responsible for obtaining a smoke and carbon monoxide detector certificate from the local fire department before closing. But fire departments don’t always have next-day appointments — and some towns have inspection backlogs.
Solution: Schedule inspections early in the process. Share this state smoke alarm compliance guide with sellers and keep your transaction timeline padded.
A missing mortgage discharge or a surprise lien can halt everything. These issues are especially common with older properties, estate sales, or refinances. Even unpaid water bills in NH can delay closings.
Solution: Have the title attorney conduct a thorough title search early, and follow up on payoff letters or missing discharges well before the closing date.
Funds Not Cleared or Missing Documentation
Sometimes buyers assume that a wire transfer or certified check guarantees immediate access. Not always. Banks may hold large deposits, and underwriters may require additional documentation — right at the finish line.
Solution: Prep buyers on timelines for cleared funds and triple-check lender requirements ahead of the final week.
“Surprise” Repairs or Walkthrough Issues
If a final walkthrough reveals an incomplete repair or unexpected damage, it can cause stress and even stall the closing.
Solution: Set a walkthrough 24–48 hours before closing, not the morning of. This allows time to resolve any issues or negotiate credits.
Closings can’t happen without the right people — including sellers, buyers, and notaries. In the age of remote work and travel, someone’s vacation can mean a reschedule.
Solution: Confirm everyone’s availability well in advance and plan for powers of attorney or remote notarization when allowed (and legal — more on that in a future blog!).
Real Estate Closings Done Right — Every Time.
At The Law Office of David R. Rocheford, Jr., P.C., we’ve seen nearly everything that can go wrong at a closing. And more importantly — we know how to make it go right.
Providing title, escrow, closing and settlement services to clients throughout Massachusetts and New Hampshire
“As a realtor, the Rocheford team went above and beyond to make sure my client was not only protected from a legal standpoint but also operated in a timely manner to execute the sale of my client’s dream home.
Thank you for the great experience for myself and my client! Looking forward to our next deal together!”
Realtor®
“I don’t usually use attorneys that often. But if an attorney is needed, I couldn’t recommend this law office enough. I always pride myself on responding quickly to emails and calls, but I was in awe of how fast paralegal Robert Heckman would respond to us. We sold our house a couple months ago and then did a two-part land swap with neighbors and my folks, and both transactions were seamless, including coming in to sign paperwork.
In short, if you need a law office that is responsive and attentive to detail, definitely consider them!”
Leominster, MA
“Excellent, conscientious and professional.
The communication throughout our Real Estate transaction was better than expected. We thought the fee to be very reasonable considering the work accomplished on our behalf. The law office handled the entire closing without us having to be in attendance….as we requested. I have had experience with very competent lawyers and law firms as the result of my previous profession. I would place this law office right up there among the best in their real estate field of expertise and surprisingly at very reasonable and affordable rates/fees.”
Buzzards Bay, MA
Jan 15, 2025 | Buying Real Estate, Consumer Tips, Home Buyer Tips, Home Buying Tips, Home Closings, Home Mortgage, Home Mortgage Tips, Home Seller Tips, Home Selling Tips, Homebuyer Tips, Homeowner Tips, Real Estate Tips, Selling Real Estate, Selling Your Home
A lot of confusion arises from myths and misconceptions about what happens during closing. Don’t worry—today, we’re clearing up five of the most common myths surrounding home closings to ensure you have a smooth and stress-free experience.
The Closing Process is Fast and Simple
While some may think closing is a quick, simple formality, it’s actually an involved process. There are plenty of legal documents, paperwork, and financial steps that need to be finalized before everything is official. Expect the closing process to take some time—more than just a few minutes—and be sure to review all documents thoroughly.
You Have to Pay All Closing Costs Upfront
Many first-time buyers worry about paying hefty fees upfront. While there are indeed closing costs, such as title insurance and appraisal fees, you don’t always have to pay everything out of pocket at once. In some cases, closing costs can be rolled into your mortgage, or you may negotiate with the seller to cover part of these expenses.
You Can’t Back Out of the Deal After Signing the Contract
It’s a big commitment, but the truth is, you *can* back out of the deal under certain circumstances—like if you find issues during the home inspection or if the appraisal doesn’t come in as expected. There are contingencies in place to protect buyers, so be sure to understand your rights before moving forward.
You Must Attend Closing in Person
The idea of spending hours in an office, signing stacks of papers in person, is intimidating to many. However, in today’s digital age, remote closings are becoming more common. Depending on the lender and state regulations, you might be able to complete the process online or at a remote location, making it much more convenient.
The Closing Date is Set in Stone
Although the closing date is agreed upon early in the process, life happens, and delays can occur. From paperwork snafus to last-minute negotiations, don’t be alarmed if the date shifts a little. Your closing agent will keep you updated on any changes and help you navigate the process smoothly.
The home closing process doesn’t have to be stressful. By debunking these myths, you can walk into your closing day with confidence and the right knowledge. With the right team by your side, like The Law Office of David R. Rocheford, JR., P.C., you can enjoy this exciting time in your home-buying journey without any unnecessary worries.
Did you know that as a homebuyer, you have the legal right to choose your own closing attorney? Many buyers aren’t aware of this right, assuming the lender or realtor has control over who represents them during the closing process. However, selecting a trusted closing attorney is crucial for ensuring that your legal rights are protected, and that the transaction proceeds smoothly. A knowledgeable attorney helps manage critical tasks like reviewing closing documents, coordinating title insurance, and addressing any legal issues that may arise. By choosing the right attorney, you’re taking an active role in safeguarding your interests and ensuring a seamless home purchase experience. For more information on the closing attorney’s role and how it can impact your transaction, read our full article!
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!”
Jul 9, 2024 | Home Mortgage, Homeowner Tips
In the world of real estate transactions, the significance of acknowledgements cannot be overstated. Whether you’re a notary, a title examiner, or a real estate professional, understanding the requirements and potential pitfalls of acknowledgements is crucial. In this blog post, we’ll delve into the Massachusetts requirements for acknowledgements, explore common pitfalls to watch out for, and discuss the implications of fraudulent deeds and mortgages.
What is an Acknowledgement?
An acknowledgement is a formal statement by the grantor that the execution of the instrument was their free act and deed. This statement is essential in verifying the voluntary nature of the signature and ensuring the validity of the document. In Massachusetts, there are statutory definitions that provide a framework for acknowledgements, emphasizing the need for satisfactory evidence of identity and voluntary signing.
Requirements for Acknowledgements In Massachusetts, the acknowledgement process involves verifying the identity of the individual signing the document through satisfactory evidence, such as a current government ID with a photo. Additionally, the signatory must confirm that their signature was voluntarily affixed for the stated purposes within the document. Notaries and real estate professionals must be familiar with these requirements to ensure compliance and validity of the documents.
Pitfalls to Watch Out For
One of the common pitfalls in acknowledgements is the omission of the name of the person who appeared in the acknowledgement clause. This seemingly minor defect can have significant implications, leading to challenges in recording the deed or mortgage and potential issues in bankruptcy cases. Additionally, defects in acknowledgements can impact the marketability of title, posing challenges for sellers and buyers alike.
Entity Authority and Fraud Risks When dealing with deeds and mortgages involving entities, it’s crucial to ensure that the acknowledgement contains the necessary language to reflect the entity’s authority. Failure to do so can result in validity issues and potential challenges in the future. Moreover, the risk of fraudulent deeds and mortgages underscores the importance of thorough verification and due diligence in the acknowledgement process.
Acknowledgements play a vital role in real estate transactions, serving as a cornerstone for validating the voluntary nature of signatures and ensuring the integrity of documents. By understanding the Massachusetts requirements for acknowledgements, being vigilant of potential pitfalls, and addressing entity authority and fraud risks, real estate professionals can navigate transactions with confidence and uphold the validity and marketability of title.
In summary, acknowledgements are not just procedural formalities but essential safeguards in the realm of real estate, warranting careful attention and adherence to statutory requirements. By staying informed and proactive, professionals can mitigate risks and uphold the integrity of real estate transactions. If you have any questions at all about this subject or any other Massachusetts Real Estate legal matter, please give one of our Attorneys a call.
Jul 9, 2024 | Homeowner Tips, Mortagage Tips, Mortgage Lenders
In real estate transactions, the use of a power of attorney can be a critical tool, especially when the principal is unable to be physically present to sign documents. Understanding the nuances of power of attorney in real estate transactions is crucial for all parties involved. Here, we delve into the intricacies of power of attorney, shedding light on its types, considerations, and potential pitfalls.
Types of Power of Attorney
There are different types of power of attorney, each with its own implications. A general power of attorney grants broad authority to the agent, allowing them to act on behalf of the principal in almost all regards. On the other hand, a limited power of attorney is specific to a particular purpose or transaction, providing a narrow grant by the principal to an agent. Additionally, the durable power of attorney allows the agent to continue acting on behalf of the principal if they become disabled or incapacitated.
Key Considerations
When dealing with power of attorney in real estate transactions, specific granting clauses and signature blocks are crucial. It is essential to ensure that the power of attorney is durable to be valid for current transactions. Reviewing the entire document is also emphasized to ensure it grants sufficient authority for the intended actions.
Recording Requirements
Recording requirements for power of attorney documents are critical. The original document must be recorded at the registry of deeds where the land is located. It is noted that recording a copy is not sufficient, and the original document is essential for reliance on the power of attorney.
Common Issues and Red Flags
There are common issues to watch out for when dealing with power of attorney in real estate transactions. Self-dealing transactions and non-arms-length considerations can lead to potential title claims due to breaches of fiduciary duty by the agent. It is important to ask questions and vet the use of power of attorney to ensure its legitimacy.
By being aware of the types of power of attorney, considerations for its use, recording requirements, and common issues to watch out for, real estate professionals can navigate power of attorney transactions with confidence. Understanding the legal and ethical standards surrounding power of attorney in real estate is crucial for ensuring compliance and protecting the interests of all parties involved. If you have any questions at all about using Powers of Attorney in Massachusetts real estate transactions, please give one of our Attorneys a call.
Jul 27, 2023 | Homeowner Tips
When it comes to applying for a mortgage, lenders take various factors into account to determine your eligibility. One crucial aspect they consider is your employment history. Your employment history provides lenders with valuable insights into your financial stability, income consistency, and ability to repay the loan.
Lenders evaluate your income consistency to ensure that you have a reliable source of funds to cover your mortgage payments. They typically request pay stubs, W-2 forms, and tax returns to verify your income. If you have been in the same job or industry for a considerable period and have a consistent or increasing income, it strengthens your mortgage application. However, if you recently started a new job or have irregular income due to freelancing or self-employment, it may require additional documentation and thorough evaluation by the lender.
Self-Employment Considerations:
If you are self-employed, the mortgage approval process may be slightly different. Self-employed individuals often face more scrutiny as their income can be less predictable compared to those with traditional employment. Lenders typically review your business financial statements, tax returns, and bank statements to assess your income stability and the overall financial health of your business. Providing a history of consistent income, strong financial statements, and a healthy credit score can improve your chances of mortgage approval.
Employment Gaps:
Extended gaps in employment can be a concern for lenders, as they may question your ability to meet your financial obligations. However, not all gaps are viewed negatively. Lenders may be more understanding if you can provide a reasonable explanation for the gap, such as furthering your education, caring for a family member, or recovering from an illness. It’s crucial to provide supporting documentation and demonstrate how you managed your finances during the gap period.
Changing Industries:
Switching careers or industries can be seen as a risk by lenders, as it may imply a learning curve or potential income instability. However, this doesn’t mean that changing industries will automatically disqualify you from getting a mortgage. If you can demonstrate that the change has resulted in an increase in income, improved job prospects, or enhanced skill sets, it can work in your favor. Strong references from your previous and current employers can also help alleviate concerns about the industry switch.
By maintaining a stable employment record, providing proof of consistent income, and addressing any gaps or career changes with supporting documentation, you can strengthen your mortgage application and improve your chances of approval. Remember to consult with a mortgage professional who can guide you through the process and provide personalized advice based on your specific situation.
