Buyer & Seller Info
Guidance for Buyers & Sellers During the Real Estate Closing Process
Our team has expertise in the real estate closing process in MA. This process is vital for Buyers and Sellers, so we have prepared all the information you need. Please review the following and, if necessary, reach out for assistance.
Ensure all conditions of the Buyer’s commitment letter and other instructions from the Lender and the Closing Attorney have been met within timeframes mandated by new rules which went into effect for mortgage loan applications submitted on or after October 3rd, 2015.
(a) If necessary, to assure full compliance with the Integrated Disclosure Rule; and
(b) At the request of the Lender’s Attorney, the scheduled date for Closing will be extended up to three business days or such other time as parties may agree. It is, therefore, necessary to ensure that all monetary adjustments allowed by the Lender are accounted for before the Lender issues the Closing package. Please consult your own attorney or the Lender’s Attorney with any questions about compliance with this Rule effective as of 10/3/15.
The above information is a guideline for Buyers and Sellers to understand what may be involved in the Closing process. It is deemed to be accurate; however, it is subject to change without notice. We will make every effort to keep the information up to date, but this should not be used in lieu of professional advice from lenders, municipalities, attorneys, or others.