Massachusetts Closing Attorney

Thursday, July 15th, 2010

Real Estate Attorney’s Do Much More Than Conduct Your Closing

Massachusetts Real Estate Closing Attorney’s do much more than simply conduct your real estate closing.  Most of the closing attorney’s work is done behind the scenes.  There are numerous steps the attorney must perform before and after your closing.

Title Examination

Prior to the closing, a title examination is performed on the property. This is done to check that the Seller is really the property’s owner, and not an imposter trying to defraud you.  The examination also reveals what mortgages and other liens exist on the property.

The title examination is extremely important. All mortgages and other liens on the property must be paid by the Seller at closing.  If any of the Seller’s debts are not paid at closing, then they become your responsibility.  The Seller’s creditors can foreclose on your property if they are not paid.

Prior To The Closing

Prior to the closing, the attorney must prepare all documents necessary for your transaction. This may include your Deed, Offer to Purchase, and Purchase and Sales Agreement.  The attorney must order any payoffs from existing mortgage holders on the property, contact the City/Town for the balances on all taxes and utilities, and fix all title problems.  The attorney must also work closely with your lender and real estate agent to coordinate all aspects of the transaction.

At Closing

At the closing, the attorney will carefully review and explain dozens of legal documents to you, and answer all questions that you may have.  The attorney will also make sure that all documents are properly signed and notarized.

After The Closing

A significant portion of the real estate attorney’s function is performed after the closing. At this time, all checks are written to pay off any liens on title.  The checks are sent to the creditors, so that the liens will be taken off of the title.

Your Deed and mortgage are brought to the Registry of Deeds to be recorded. This requires a second title examination that will check for any liens recorded after the first title examination.

When the Deed is recorded, you become the lawful owner of the property. At this time, you will be allowed to move into your home.

After recording the Deed, the attorney prepares your Massachusetts Title Insurance policy.

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Call us toll-free at 1-877-380-7650 to discuss your Massachusetts Real Estate Closing or

Click Here to Request a Massachusetts Title Insurance Quote.

Kane Title Services provides you with all of our fees upfront. No hidden fees, no surprises…

Why You Need A Real Estate Attorney

Tuesday, July 13th, 2010

Why You Need a Real Estate Attorney to handle your closing.

A Notary Public Cannot Give Legal Advice

The real estate closing process has become much more complicated in recent years. At closing you will be signing dozens of complicated legal documents that affect your legal rights and responsibilities. Only a licensed attorney can provide you with legal advice.

Be skeptical of title companies that employ notaries to handle your transaction. A notary public’s role is only to witness your signature and to tell you where to sign. They can not explain to you what the documents that you are signing mean.

At Kane Title Services, Attorney Jason Kane personally oversees every transaction and is available to answer any questions that you may have.

Your Hard Earned Money is at Risk

When you buy a home, the title company will be handling all of your hard earned money. This includes your down payment and the funds that you are borrowing.

Do you trust that your money is safe being held by a non- attorney owed title company? Attorney’s have legal and ethical obligations to protect your money.

All funds held by Kane Title Services are placed in an attorney escrow account.

Do You Know Your Title Company’s Credentials

When you buy a home, you are also buying its title. The legal significance of this is profound.

If your title company makes a mistake and does not find a Seller lien during the title search, you will be responsible. For example, if the Seller owes $20,000.00 to the IRS and the title company does not discover this lien during the title search, the taxes become your responsibility. If you do not pay off this debt, the IRS can foreclose on your home and you will lose everything!

List of our credentials

Is Your Title Company Insured in Case Something Goes Wrong?

What if something went wrong at your closing?

Legal malpractice insurance is required of attorneys who perform real estate closings for lenders. This insurance along with your purchase of title insurance will guarantee that if a mistake is made, you will not get stuck with the bill.

Closing Attorney Massachusetts

Tuesday, July 13th, 2010

In Massachusetts it is required that you have a licensed Attorney handle your real estate closing.

Many states require a notary public at closing, but not an attorney. Massachusetts is unique in that it requires an attorney be present. This is where we can help.

Do not proceed with a real estate closing without the help of an experienced Massachusetts real estate attorney.

Contact us at (1-877) 380-7650

Kane Title Services is an attorney owned title company. Rest assured that an experienced Massachusetts real estate attorney will be handling your closing. We will never send a notary public to perform your closing.

Real estate is our only focus

Kane Title Service’s focuses solely on Massachusetts real estate closings. Massachusetts real estate laws are complicated; and every transaction is unique. When problems arise at your closing, only a Massachusetts real estate attorney can help you with legal advice.
===========================================================================

Call us toll-free at 1-877-380-7650 to discuss your Massachusetts Real Estate Closing or

Click Here to Request a Massachusetts Title Insurance Quote.

Kane Title Services provides you with all of our fees upfront. No hidden fees, no surprises…

Massachusetts Real Estate Closing Attorney

Tuesday, July 13th, 2010

In Massachusetts it is required that you have a licensed Attorney handle your real estate closing.

Many states require a notary public at closing, but not an attorney. Massachusetts is unique in that it requires an attorney be present. This is where we can help.

Do not proceed with a real estate closing without the help of an experienced Massachusetts real estate attorney.

Contact us at (1-877) 380-7650

Kane Title Services is an attorney owned title company. Rest assured that an experienced Massachusetts real estate attorney will be handling your closing. We will never send a notary public to perform your closing.

Real estate is our only focus

Kane Title Service’s focuses solely on Massachusetts real estate closings. Massachusetts real estate laws are complicated; and every transaction is unique.

When problems arise at your closing, only a Massachusetts real estate attorney can help you with legal advice.
===========================================================================

Call us toll-free at 1-877-380-7650 to discuss your Massachusetts Real Estate Closing or

Click Here to Request a Massachusetts Title Insurance Quote.

Kane Title Services provides you with all of our fees upfront. No hidden fees, no surprises…

Massachusetts Closing Attorney Quoted in Boston Globe

Monday, June 28th, 2010

Massachusetts Closing Attorney Jason Kane was quoted in a recent article in the Boston Globe in regards to the home buyer credit.

The article which was written by Jenifer B. McKim is featured below.

With thousands of dollars at stake, homeowners and prospective buyers across Massachusetts are scrambling to close real estate deals in time to beat Wednesday’s deadline for a home buyers tax credit.

Lenders are adding extra staff and some local registries of deeds are postponing vacations, anticipating a rush of lawyers seeking to record home sales for their clients. The National Association of Realtors estimates that as many as 180,000 home buyers across the United States may miss the cut-off date.

Some, realizing they cannot finalize purchases in time, have already backed out of deals. Others are counting on lawmakers in Washington, D.C., to extend the deadline for the federal tax incentive, which was intended to jolt the dormant housing market by enticing prospective buyers with up to $8,000.

“It is crunch time,’’ said Kevin Sears, president of the Massachusetts Association of Realtors and co-owner of Sears Real Estate in Springfield, which has two pending deals in jeopardy. While the majority of buyers will meet the deadline, Sears said, others are frantic.

“They are pulling their hair out,’’ he said. “The $8,000 tax credit is a big deal.’’

The deadline has added pressure to an already busy time of year for lenders and others involved in completing real estate transactions. Adding to the stress, banks tightened lending standards following the subprime mortgage crisis, further stretching out the process.

“The inability of buyers or their closing attorneys to get clear answers from the lenders who are providing financing for the transaction is causing a lot of anxiety,’’ said Jason Kane, owner of Kane Title Services in Plainville.

Boston real estate attorney David Baron said most pending sales from the spring are scheduled to close by the end of June. Baron also cited what he called a “kind of triple whammy’’ — the tax credit’s expiration, historically low mortgage rates, and attractive home prices, all of which have the effect of boosting the volume of sales.

Only first-time home buyers can earn the $8,000 credit, but some current homeowners can qualify for up to $6,500 if they decide to buy a new home. To qualify, all buyers must have signed a contract on a property by April 30 and complete the deal by June 30.

The real estate industry is lobbying Congress to allow buyers until September to file paperwork. Harry Reid, Democrat of Nevada and the Senate majority leader, included the extension in a jobless-aid bill that did not pass Thursday. It could be inserted into another bill next week.

Some local real estate deals already have been called off because of the looming deadline. North End residents D. James Ruccio and Carolyn Saxon said they canceled plans to buy a Dorchester condominium after realizing they couldn’t close in time. Because the unit they wanted was the first of three in a building to sell, they couldn’t obtain financing — the lender required at least half the building to be sold to owner-occupants. Ruccio and Saxon said they were willing to wait for the seller to find additional buyers, if they were compensated for the loss of the credit. “The seller said no,’’ said Saxon. “We walked away.’’

Under the best circumstances, the legal steps required to complete the purchase of a home are time-consuming, typically taking eight to 10 weeks in Massachusetts, according to Sears. In addition to obtaining mortgage approval, the process includes a title search, property inspection, and appraisal.

Also, many pending sales are foreclosures or “short sales,’’ meaning the sale price is less than the mortgage balance. Such transactions are rife with complications that can take time to work out.

Officials at Bank of America Corp., the largest bank in Massachusetts and nationwide, said they have been bulking up on staff and reaching out to buyers to help as many as possible complete home purchases in time to get a tax credit. But “in today’s environment, sometimes conditions are beyond someone’s control,’’ said bank spokesman Terry Francisco.

That lack of control is weighing heavily on some sellers and buyers as the clock ticks toward Wednesday.

Leslie DelMonaco, a real estate agent with Century 21 Realty Team in Leominster, said a couple she is working with are desperately trying to finalize the sale of their condo so they can go forward with the purchase of a new home — all before July 1. But the condo sale is taking longer than expected because of financing delays, and unless the problems are quickly resolved, both sales could fall through.

“They are so angry right now, because they are feeling they’ve done all the things they needed to do,’’ DelMonaco said.

Jason Kane is a real estate attorney and president of Kane Title Services, a New England based title company, that offers title examinations, title insurance products, and real estate closing services.

He can be reached at 877-380-7650 or at jkane@kanetitle.com.