In real estate, delays in closing can be frustrating for everyone involved — especially the buyer eager to move into their new home. But sometimes, a delay isn’t just a hurdle; it’s a safeguard. At Shafritz & Dean, we recently navigated a particularly complex closing that highlights just how crucial it is to get everything right before handing over the keys.
The transaction involved a difficult seller who refused to sign a standard payoff authorization, preventing us from communicating directly with their lender. Ultimately, the seller obtained the payoff statement themselves, but it had to be verified by an attorney representing the lender — who was involved due to a pre-foreclosure situation. Our team was able to confirm the accuracy of the payoff within 24 hours, ensuring all figures were correct and the seller’s debt was properly cleared.
Adding to the complexity, a notice of contract had been recorded on the property. Although it appeared to be fraudulent, it still needed to be formally addressed to avoid any future title issues. Four of our underwriters refused to insure the title until this was resolved. Fortunately, our persistence paid off: we secured approval from a fifth underwriter who agreed to proceed with an indemnification agreement in place.
While the buyer had to wait a little longer than anticipated, the delay allowed us to resolve multiple serious issues that could have haunted them down the road. At Shafritz & Dean, we believe that doing things right — not just fast — is what truly protects our clients.
Delays may feel inconvenient in the moment, but in this case, they ensured the buyer’s peace of mind for years to come. That’s the difference a diligent closing attorney can make.