In Massachusetts, where I have practiced real estate law for more than 40 years, "Registry Closings", so-called, have sometimes posed advantages. Because of long-honored custom and the general unwillingness of title companies to provide "gap"coverage", having the closing take place at the Registry, and then recording documents right after the closing, has given the seller really the only opportunity to "sell and buy" on the same day. Real estate closing agents will not release funds until the documents are "on record".
While I have never really embraced Registry Closings, i will give you some reasons why below, I have often had no option but to close in the bowels of old buildings that virtually offer no options (but hand scribbled documents) if there are last minute problems with the closing package. The fact that I can be finished with all my work and then have to wait around with exasperated parties while I wait for the Lender to "fund" the loan is certainly another big problem. Couple the issues I have described above with noise, distractions from-others closing right next to you and general chaos, and you may imagine why I am not a Registry closing "fan".
In the last year or so, a few Massachusetts Registries have begun accepting recordings on-line. Two of the Registries I use the most, Middlesex County and Plymouth County, are becoming proficient at the process. At present, there is slight extra charge ($4.00) per document. Compare that cost to the time, and frustration, involved in waiting in line at the Registry. The new process is a "bargain" when so compared. There is no way to calculate the "comfort and convenience" benefit of doing the closing in one of my offices or the Realtor's office compared to the Registry.
Some of my old-fashioned colleagues in the real estate profession have resisted recording on-line. I had a transaction in Middlesex County yesterday, where I almost did not get my Seller's proceeds in her bank account on time, because of the delays in waiting in line to record at the Registry. If you are a Massachusetts Realtor closing in Middlesex and Plymouth County, you should inquire about on-line recording. It will make your, and your client's, day so much simpler!!!
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