Most Registries close at 4:00 pm. Documents need to record before the transfer of ownership is official, and we have seen an uptick in Registry recording wait times. A Friday closing leaves little time for last minute changes and unforeseen problems before the Registry closes for the weekend. If documents are not able to get to record before the Registry closes for the day:
A. The client may not be able to access the property until the following business day.
B. Proceeds may not be able to be distributed or may not clear until the following business day. This is
especially important if your client is buying and selling on the same day.
Tip: 1. Have your client consider closing Monday – Thursday. This way if there is a delay the following business day is the next morning!
2. Movers are generally busier on Fridays, weekends, and towards the end of the month and can be unavailable or more expensive during those times.
3. Some Registries still require hand delivery of documents for recording registered land which adds a consideration for travel time, and requires the closing to be scheduled earlier in the day.
Have further questions? Please give us a call!
Gilmore & Gilmore, LLC Danvers | Newburyport | Boston 978-777-3480
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