FACT: Massachusetts law now requires attorneys to preside over residential real estate closings.

FACT: Many borrowers don’t realize that they may request to select their own closing attorney instead of the attorney provided by the bank.

Duties performed by an attorney in a Real Estate Closing include:

• Intake/Title Examination
• Title Insurance
• The Closing:
  • Payoff and discharge of mortgages
  • Payment and allocation of real estate taxes and utilities (water, oil, etc.)
  • Payment of realtor commissions
  • Disclosure and payment of lender fees and closing costs
  • Funding of mortgage escrow account
  • Payment of transfer taxes and recording fees
  • Payment of pre-paid interest
  • Distribution of sale proceeds
  • Title V septic certification and condominium 6(d) certification
• Post Closing
• Seller Attorney Responsibilities
  • Generate the first draft of the purchase and sale agreement
  • Order mortgage payoff statements
  • Assistance with any title clearing efforts such as obtaining old mortgage discharges, death certificates
  • Draft the quitclaim deed and power of attorney
  • Prepare trustee’s certificate
  • Obtain condominium 6d certificate, smoke detector certification, final water/sewer readings (Realtor typically will obtain these as well)
  • Representation of seller at closing