Whether you’re buying, selling, developing or refinancing residential real estate, closings are a complex series of moving parts. As an outside observer, real estate closings may look like a ballet – many complex and moving parts that work together to produce a singular outcome. For many, the process can feel overwhelming. An experienced residential real estate closing lawyer can navigate the complexities for you. Rather than stress and worry about closing on time, experienced closing lawyers ensure that you can relax and let the experts take care of the issues.
At Palumbo Law, our lawyers are experts in residential real estate closings, having delivered numerous timely and painless real estate closings throughout Rhode Island, Massachusetts and Connecticut. We are highly specialized in real estate law. We give each and every real estate transaction the legal expertise and individual attention that it requires. Through our highly-skilled and hand-selected team of legal professionals, we offer a streamlined service for real estate closings. Our attorneys regularly receive industry recognition for outstanding legal practice and our clients agree. Our industry recognitions include Martindale Hubble Platinum Client Champion Award; Martindale Hubbell Peer Review Rating 5.0 out of 5.0; AVVO Review Rating of 5.0 out of 5.0; invitee for America’s Top 100 Attorneys – Lifetime Achievement Award; and Top Lawyers in Rhode Island. If you have a residential real estate closing in Rhode Island, Massachusetts or Connecticut, please contact our office to schedule a consultation.
What is a Real Estate Closing?
A real estate closing is the final execution and exchange of documents to complete the buying and selling process, whether in a commercial or residential context. Closing is when the buyer, seller, lender, and any other interested parties come together to sign the documents that finalize the transaction. This is when legal ownership changes hands, and for many, when the keys to the property are handed over.
What is the Role of a Real Estate Closing Attorney?
A real estate closing attorney does much more than just show up and ensure that the documents are signed. Closing attorneys have an active role throughout the transaction, ensuring that documents are properly drafted to reflect the terms agreed to, that all legal formalities are complied with, etc. More specifically, real estate closing attorneys may:
- Coordinate the gathering and dissemination of information to the relevant parties.
- Conduct title searches to ensure that the property’s title is unencumbered by previously unknown issues, such as an easement or a break in the chain of title that could present an opportunity for someone to challenge ownership.
- Draft and review transaction documents such as the deed, the purchase and sale agreement, and the settlement statement.
- Answer last-minute questions before official closing.
- Ensure proper execution of all transaction documents and legal forms.
- Disburse funds and pay fees accordingly after closing.
- Record the closing as required by local and state law.
The role of the closing attorney is dependent upon the specifics of a transaction. In some cases, these roles may be performed by other parties such as the title company, the title insurance company, or an escrow company. In many cases, the greater the complexity of the transaction, the more specialized of a role each party will have.
What Closing Services does Palumbo Law Offer?
At Palumbo Law, our attorneys offer exceptional representation in residential real estate closings by negotiating, drafting and/or reviewing:
- purchase and sale agreements
- closing disclosures
- mortgage documents
- refinancing documents
- assignments of mortgage
- power of attorney documents
- deed transfers
- loan agreements
- construction loan documents
- home equity lines of credit
- rate modifications
- title searches
- title reports
- title insurance
- local government records
- surveys and building plans
- offering plans
- legality of structures on property
- compliance with planning and zoning regulations
- legal opinions
Additionally, we offer escrow services, provide a location for the closing, and provide counsel throughout the entire residential real estate transaction and closing process. Real estate closing attorneys provide much more than just a presence at closing, they ensure that the entire transaction runs smoothly and on time – protecting your interests, and saving you time and money.
Residential Real Estate Closing Lawyers in Rhode Island, Massachusetts and Connecticut
At Palumbo Law, our team makes a difference. We understand the needs of our clients based on our personal experiences and use our real world experience to produce real results. As a real estate investor, senior attorney Richard Palumbo has bought, sold and managed hundreds of properties. Attorney Palumbo understands what individuals, investors and businesses are experiencing and what they need from a real estate law firm. Similarly, senior paralegal Julie Aldrich is one of the most experienced real estate paralegals in Rhode Island. Julie brings nearly 25 years of experience to ensure that real estate transactions are painless and close on time. Additionally, our real estate attorneys, such as Senior Attorney Glenn Robinson, offer multi-faceted real estate experience that is second to none. At Palumbo Law, we are more than one attorney – we are a team of real estate professionals protecting your interests, time and money. If you are seeking to acquire or sell real estate in Rhode Island, Massachusetts or Connecticut, please call our office today to set up a consultation or complete the contact form on our website.
Palumbo Law services clients with their residential real estate matters in the following areas Rhode Island, Massachusetts, and Connecticut.