The Closing is the date that the home will actually be changing hands making you the official owners! The closing is a meeting that you will attend with your Attorney and Buyers Agent, the Bank Attorney if different from your Attorney and the Sellers and their Attorney and Sellers Agent. It is not unusual for the Sellers to give Power of attorney to their Attorney and not attend the closing. The Buyers are usually in attendance or will sign with their Attorney separately since there is a lot more documentation on the Buyers side.
All documents have now been signed and you have handed over the remaining money due, however, you are not yet the official owner until the property goes “on record” at the Registry of Deeds. Getting the property “on record” can take anywhere from an hour to multiple hours depending on how busy the registry is that day. The Closing Attorney will arrange for this to be done either in person at the Registry or it can now also be done on line. End of Month closings usually takes the longest to go “on record” since there are usually more closings scheduled and, therefore, there can be a line.
I suggest a morning close to ensure your home is “on record” the same day. Many Sellers will not give out the keys until your home is “on record”. The registries close at 4:00 pm which is why an early in the day close can avoid the possibility of preventing you from getting into your home as planned.
Congratulations! You are now a Massachusetts Home Owner!
Contact Rachel Bodner to help you buy your home and learn more about the Buying Process in Massachusetts.