If you are obtaining your home mortgage with Boston Private Bank, you have the right to request a closing attorney from the bank’s list of approved closing attorneys.
The Law Office of Timothy A. Sherman is proud to be an approved law firm for Boston Private Bank.
Therefore, you can request us to handle your closing for the lender AND represent your interests as well.
We typically do not charge to review the Purchase and Sale Agreement when we handle the closing for the bank, because it is both legally permissible and now commonplace in Massachusetts for real estate attorneys to offer “dual representation”.
We can simultaneously represent both you and your lending institution in handling the closing. It provides savings to you by avoiding duplication of services. The cost for separate representation may add hundreds dollars to the cost of a closing.
In most cases, the interests of the lender and the purchaser are so similar that there is no conflict of interest.
Thus, we are able to act as the “quarterback” for the transaction, coordinating the various parties involved such as realtors, attorneys, seller, lender, etc. Basically, we keep everyone moving toward the same goal –efficiently getting you into your new home.
Specifically, the duties we would perform include:
- Review the Purchase and Sale Agreement. As needed, we draft, negotiate and/or edit all of our clients’ contracts specifically to meet your needs and best protect you by supplementing the “standard” P&S. And as needed, we request extensions and complete amendments.
- Conduct a reliable title exam of the property to ensure there are no liens, mortgages or title defects, etc.
- Obtain a Municipal Lien Certificate (MLC) from the town to ensure all taxes and municipal bills are current
- If you are buying a condo, we obtain a 6d certificate to ensure there are no outstanding condo fees or special assessment against the unit
- Create a HUD Settlement Statement showing the financial details of the transaction
- Handle the disbursement of the funds and make sure that all liens are paid off and officially discharged
- File the necessary paperwork at the Registry of Deeds to establish your ownership of the property
- Issue the necessary lender’s and owner’s title insurance. We can discuss this further as needed.
- If the home will be your primary residence, we can discuss the importance and protection of the Homestead Act.
- Conduct your closing at your real estate agent’s office or any other convenient location.
With offices in Hingham and Braintree, we exclusively focus on residential real estate transactions.
Our dedicated staff of 3 attorneys and 4 paralegals use modern technology to streamline each transaction, with an emphasis on reliability and responsiveness. We understand real estate is not a 9 to 5 business so our staff is available on your schedule.
We are always available to talk or text at 781-664-4936 and email at email@example.com
About the author: The above Real Estate information on Boston Private Bank Approved Closing Attorney and Real Estate Lawyer was provided by Timothy Sherman, an active attorney in the real estate law field. Attorney Sherman has helped people close on their homes in many Massachusetts cities and towns for the last 12+ Years.
Thinking of buying, selling or refinancing your home? We have a passion for Real Estate and love to share our legal expertise!
We handle closings throughout the South Shore and Greater Boston Area such as: Boston, Braintree, Canton, Cohasset, Dartmouth, Dedham, Duxbury, Fairhaven, Hanover, Hingham, Marshfield, Milton, Nantucket, Newton, Norwell, Plymouth, Quincy, Walpole, Wellesley, Westwood, Weymouth and Wrentham.