2885 Main Street
Stratford, CT 06614
203.378.9595
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Real Estate Closings

Closing is the final step in a real estate buy-sell transaction, the time at which ownership of property is transferred from seller to buyer. Both residential and commercial buyers and sellers look forward to the closing date, a date typically agreed upon at the end of contract negotiations. Closings usually take place at least several weeks after the contract is signed, and may, depending on circumstances, take place further into the future. 

At the Law Office of Benjamin S. Proto, Jr., we represent buyers and sellers of both residential and commercial properties, working closely with real estate agents, lenders, engineers and all other involved professionals in order to bring about a smooth, quick, and seamless transfer of ownership. Obviously, the actions I perform for my clients differ depending on the type of property that is changing hands and on whether I am representing the buyer or the seller.

Services Provided for Buyers

If you are buying property, whether for residential or commercial purposes, it is important that you be protected from many possible difficulties, including unknown defects in the property, problems with the surrounding environment, and encumbrances that may interfere with your prospective ownership. Because of the risks surrounding property purchase, as your attorney I will:

  • Negotiate the real estate contract and mortgage commitment
  • Resolve issues brought up at inspection, such as pest infestation or needed repairs
  • Correspond with the seller’s attorney, title company, mortgage company as needed
  • Obtain title papers and other necessary documents
  • Review mortgage and title commitments and explain them to you
  • Make sure your mortgage interest rate is locked down
  • Represent you at closing

I have the legal knowledge, skill, and experience not only to protect you throughout the purchase process, but to support and guide you through the closing itself. I will make sure that you are not overwhelmed by the legalese of the documents you are signing and fully understand the concepts behind them.

Services Provided for Sellers

Selling property also involves certain risks. It is essential to have a lawyer at your side to help you navigate the process and come out ahead. I will provide you a sense of security concerning all legal aspects of the sale by:

  • Preparing, negotiating, and reviewing the real estate contract
  • Carefully explaining the contract and other legal documents to your satisfaction
  • Resolving any issues exposed by inspection, such as pest control or damage repair
  • Corresponding with the buyer’s attorney
  • Preparing for closing
  • Representing you at the closing

Because I am experienced in the field of real estate law, I know where trouble spots in documents are likely to appear and will make sure to review all documents carefully, always committed to protecting your interests. I will make certain that you understand all aspects of the papers you will be signing at the closing.

What Are Closing Costs?

Closing costs is a term that comprises a great many potential expenses associated with purchasing and financing real estate. Closing costs are categorized as recurring or nonrecurring. Recurring costs are paid at closing and on a monthly basis afterwards. These costs include real estate taxes and homeowner’s insurance. Nonrecurring costs may include:

  • Points
  • Tax service fees
  • Underwriting fees
  • Document preparation fees
  • Title fees
  • Wire transfer fees
  • Notary fees
  • Attorney’s fees

While many closing costs are routine and expected, as your attorney I will be on the lookout for “junk fees,” such as loan processing fees or mortgage rate lock fees that I may be able to have lowered or even eliminated merely by raising the question of their legitimacy.

Who pays the closing costs?

While buyers normally have a grocery list of closing costs to pay, sellers do not get off scot-free. Sellers are typically responsible for paying any real estate broker commission, title transfer fees and prorated taxes and utilities.

In some situations, the decision regarding who pays certain closing fees is negotiable. If you are a seller eager to make a sale, expressing willingness to pay the buyer’s closing costs increases your number of potential buyers which, in turn, drives the price up through competing offers. Offering to pay closing costs may give you an edge in selling your property more quickly and, somewhat ironically, at a higher price.

If you are the buyer and we are unable to get the seller to pay closing costs, our next best bet is probably to get an “all-in-one” flat-rate fee that covers all the closing costs. I will be careful to protect you from certain lenders who use “all-in-one” terminology to disguise deals that will rope you into using one or more of their other bank products, such as checking accounts or home equity loans.

You can put your trust in the Law Office of Benjamin S. Proto, Jr. where I will personally meet your legal real estate needs with dedication and integrity. I can be contacted through the contact form this website or by calling 203.307.2915.



© 2017 Law Office of Benjamin S. Proto, Jr. | Disclaimer
2885 Main Street, Stratford, CT 06614
| Phone: 203.378.9595

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