Once your Purchase and Sale Agreement has been signed on your Massachusetts home purchase, things may go “quiet” for a period of time.
Here’s what to expect between now and your closing:
1. You will be working with your lender on submitting whatever documents they need for the mortgage application. The Lender will coordinate the Appraisal but please check in with your agent and/or lender to make sure this is done in a timely fashion.
2. Your mortgage commitment is due on the date specified in the mortgage contingency clause of the P&S. This date is very important to you. If you do not have a firm and clean commitment from your lender to provide financing two business days before this date, please contact your closing attorney.
3. Coordinate your Homeowner’s Insurance coverage with your selected Insurance Agent and Lender. Our office, your loan officer or your real estate agent could recommend someone if needed.
4. Arrange for a mover. Ask your real estate agent if you need a recommendation.
5. The seller will have the smoke and carbon monoxide detectors inspected and checked for sufficiency by the Fire Department and obtain from them a Certificate of Compliance. This certificate will be submitted to the office at closing as required.
6. The listing agent will contact the Water Department to schedule a final water reading prior to the closing. The final bill will be sent to our office and will be paid by the seller from the proceeds of the sale. In this way the water account is fully paid prior to your ownership.
7. Contact utility providers to establish service, including heat, cable, electric, etc. Also, submit change of address with the US Postal Service on-line: https://moversguide.usps.com/icoa/icoa-main-flow.do?execution=e1s1
8. Expect to be contacted a few days prior to closing with your final check amount and confirmed date/time/place of closing.
9. Schedule a walk-through of the property with your agent just before closing to make sure the property is broom clean, all seller’s items have been removed, and the property is in the same condition as when you signed the P&S.
10. Please bring the following items to closing: A valid and current government-issued picture ID such as a driver’s license or passport, a second form of ID such as an Insurance Card or AAA, your personal checkbook, and the certified check needed made payable to the lender’s closing attorney.
About the author: The above Real Estate information on Massachusetts Settlement Agent was provided by Timothy Sherman, an active attorney in the real estate law field. Tim can be reached via email at [email protected] or by phone at 781-664-4936. Attorney Sherman has helped people close on their homes in many Massachusetts cities and towns for the last 10+ Years.
Thinking of buying, selling or refinancing your home? I have a passion for Real Estate and love to share my legal expertise!
I 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.
