Wednesdays are for the Closings!

What is the best day of the week to close on a home in Massachusetts?

The real estate closing attorneys at the Law Office of Timothy A. Sherman (“LOTS”) have a few thoughts as to the best day to buy a house.

As long as it doesn’t fall on the last business day of the month, Wednesdays are a great day to close.   Your mortgage lender must give you your Closing Disclosure three days before closing.  This means the lender must prioritize your file and have your closing figures to you the Friday before your closing.  This allows you the weekend to review them.

If Wednesday if not an option, any other of day of the week is better than Friday, here’s why:  

The busiest 25 closing dates last year all fell on either a Friday or the last business day of the month.

We suggest you avoid closing on these heavy volume days.  We look at it like Rush Hour- why sit in traffic if you can avoid it?

Disadvantages to Closing on a Friday and/or Last Day of the Month:

1. Banks are often busiest toward the end of the week.  You will need to obtain a certified check and your lender will need to wire us your loan proceed funds.   While both are certainly achievable on busy days, it is wise to avoid if possible.

2. Similarly, the Registry of Deeds (the land records) are also busy, which can cause delays in recording the paperwork and permitting you access to the home.  If you are buying a house but need to sell a house first, any delay on either can cause an unpleasant chain reaction. If you’re all packed up and ready to move but the closing is delayed due to traffic, recording at the registry, or delays with the bank the next earliest day to close become Monday.  And you can imagine the stress that puts on your weekend!

3. Supply and Demand of Movers.  Movers are tougher to get and more expensive on high-volume closing days.

4. Cable and Internet installation appointments can be tougher to schedule.

Advantages to Closing on a Slower Volume Day:

1. Closing earlier in the week and month gives you a one or two day cushion to navigate potential delays with less stress and less risk.

2. It is easier to schedule your closing at the exact time you chose.

3. Your file will be given priority over those closing later in the week.

4. You preserve your leverage should there be a walk-through issue.   If you close on a Friday, the seller KNOWS you want in that day and will take advantage of this.

Buying or selling a house should be an exciting and positive experience that can be tainted by delays that are not within your control, which is why we suggest avoiding Fridays and end of the month.

But with all this said, no matter when you close, the closing attorneys and paralegals at LOTS will always do our best to ensure the experience is smooth!

Remember….Our Closings Open Doors!

About the author: The above Real Estate information on the best day of the week have a closing in Massachusetts 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.