RESIDENTIAL SALES


We ARE fortunate to have extremely competent people within our law firm who are specifically trained in real estate closing procedures and law.  These people are extremely qualified to assist in answering your procedural and legal questions.  

CONTRACT

 This step in the closing procedure is the most vital step in assuring the smoothness of the transaction.  It is the responsibility of this law firm to either prepare the contract of sale on your behalf or to review the agreement prepared by the realtors.  One of the attorneys in this firm will handle these negotiations directly.  We shall see that your contract is signed quickly and with the least amount of inconvenience to the parties. 

HOME INSPECTIONS AND TERMITE INSPECTIONS

Only AFTER the contracts are fully signed will the buyer order the inspections called for in the contract.  If any portion of the inspection is unsatisfactory, we will receive a letter and a copy of the report from the buyer's attorney within the time allowed for in the contract.  The timely scheduling of the inspections is the responsibility of the buyer or their broker.  A review of the contents of the inspection is your responsibility and the resolution of any problems revealed in the report is our responsibility.

MORTGAGE

 During the processing of the inspections, arrangements will have been made for the processing of your buyer's mortgage application through a lending institution if they are obtaining mortgage financing for the house you are selling.  Ordinarily, the mortgage loan commitment takes between 30 and 90 days to reach the stage of final written commitment.  If we receive information, we will call you.

 SMOKE DETECTOR CERTIFICATION & WELL TESTING

 You are responsible to have the town fire official inspect the house for proper installation of fire detectors and the issuance of a certificate.  If a Certificate of Continued Occupancy is required by the municipality, you must make arrangements with the Construction Official.  You are also responsible have your well water tested if your home is serviced by a private well.

CLOSING DATE

While we will do everything in our power to close on the date set forth in the contract, we do, by necessity, rely on the cooperation and support of other individuals and firms and, therefore, do not have absolute control over the closing date.  Please be aware that until the buyer has received a written mortgage commitment, their attorney cannot proceed with the lender's requests.  Also, if you are purchasing another dwelling, most likely your new purchase will be contingent upon the sale of your present dwelling.  Also, your buyer may be selling another dwelling and their purchase of your home will be contingent upon their sale.  There are many variables in coordinating closings.

 FINAL WALK THROUGH 

Immediately prior to closing, arrangements will be made with the broker or owner to make an inspection of the home and note any damage, incomplete items or persons other than the owners living in the home.  Be sure to notify our office immediately of these items.

 UTILITIES 

Please contact your utility companies (telephone, electric, cable, etc.) to arrange to have your services terminated as of the expected date of closing and to have the accounts placed in the buyer's name.  You should arrange for a fuel oil or gas reading the day prior to closing and bring a written reading to closing so that you can be reimbursed directly by the buyer.

 

 

Residential Real Estate Transactions

 GAVAN CRISCUOLI LENAR - LAW GROUP LLC

attorneys at law

RESIDENTIAL PURCHASE


We have experienced attorneys  and staff who are specifically trained in real estate closing procedures and law.  These people are extremely qualified to assist in answering your procedural and legal questions.  

ACCEPTANCE OF OFFER 

 This step in the closing procedure is the most vital step in assuring the smoothness of the transaction.  It is the responsibility of this law firm to either prepare the contract on your behalf or to review the agreement prepared by the realtors.  One of the attorneys in this firm will handle these negotiations directly.  We shall see that your contract is signed quickly and with the least amount of inconvenience to the parties. 

 HOME INSPECTIONS AND TERMITE INSPECTIONS 

 Only AFTER the contracts are fully signed and attorney review is successfully concluded should inspections called for in the contract be ordered.  You should contact your broker to make arrangements to have the inspections scheduled.  These inspections will give you a snap shot review of the condition of the house.  Ensure you hire a trained professional. 

 MORTGAGE 

During the processing of the inspections, arrangements will have been made for the processing of your mortgage application through a lending institution if you are obtaining mortgage financing for the house you are buying.  In many cases, your real estate broker will have assisted you in the processing of your loan (especially FHA and VA loans).  When the broker assisted you in the mortgage application, you should be certain to advise your realtor to tell the lending institution that our firm represents you so that a copy of the commitment will be sent to us.  We will attend to whatever requirements the bank may have.  Ordinarily, the mortgage loan commitment takes between 30 and 90 days to reach the stage of final written commitment.  In most cases, you will receive the commitment directly from the bank with the requirements that a copy be accepted and signed and returned to the bank directly.

TITLE SEARCH AND SURVEY 

Given the time necessary to obtain the mortgage commitment, we may request authorization from you to order the title search and, if necessary, the survey prior to your receipt of a written mortgage commitment, in order that we can be prepared to close on your contract closing date.  These expenses are your responsibility and will be shown on your closing statement at closing.

 CLOSING DATE

While we will do everything in our power to close on the date set forth in the contract, we by necessity rely on the cooperation and support of other individuals and firms and, therefore, do not have absolute control over the closing date.  It is, therefore, advisable that you DO NOT make any irreversible plans until such time as a firm date is actually established for closing before the tentative plans, subject to change, can of course be made at any time.

HOME OWNERS INSURANCE  

Prior to closing, it will be necessary for you to obtain a home owners insurance policy with extended coverage.  The policy should contain an endorsement showing the bank as the holder of the mortgage.  An insurance agent can best advise you in this regard. 

WALK THROUGH 

 Immediately prior to closing, please arrange with the broker or owner to make an inspection of the home and note any damage, incomplete items or persons other than the owners living in the home. 

UTILITIES 

 Please contact your realtor to arrange for all utilities to be placed in your name and to insure that when you move in the lights, gas, telephone and furnace will all be working.  The realtor should arrange for a fuel oil and water readings prior to closing if the property is serviced by fuel oil and municipal water.