Real estate law and banking is a complex world of legalese and regulations. Paula Dadmun, a paralegal at the law firm of D’Elia & Cavanaugh in Orleans, said that she remembers when she first began working in the field 30 years ago, things were a lot different.
“There used to be a day when three documents were considered sufficient to be a complete closing package; now, some lenders have packages that can be in excess of 140 pages.” Dadmun said. The process has become far more complicated over the years. "Buying a home is one of the most expensive purchases that people will make in their lifetime. We want to make sure that it is a positive and successful experience."
So what can potential home buyers and sellers expect when they enter into the world of mortgages and titles? Buyers and sellers both have responsibilities when it comes to the transfer of property, according to Dadmun.
Buyers need to exercise due diligence. It is common practice for a potential home buyer to hire a building inspector to insure the structural and mechanical integrity of the home they are looking to buy. Individuals should always opt to work with a local law firm, such as D'Elia & Cavanaugh, that not only has experience with real estate law, but is also familiar with the unique characteristics of Cape Cod.
For their part, Sellers are responsible for providing a good, clear and marketable title, as well as insuring that the property is compliant with all state and local regulations in conjunction with the sale.
D'Elia & Cavanaugh is well-versed in handling all aspects of a real estate transaction. "This afternoon, we are closing on a property that I wasn't sure was going to close on time. However, our team of experienced employees never gives up, and we make things happen!" Dadmun said. Experience, longevity and loyalty among the employees to the firm and the firm's clients, makes a big difference, according to Dadmun.
Working with a firm that has plenty of experience tends to mean that they are well-known among the local lenders. Lenders do not allow just anyone do their closings, and firms like D'Elia & Cavanaugh have been around and successful for as long as they have because they have built solid relationships with clients, realtors and lenders alike. It is crucial to have an experienced hand to guide you through the home buying or selling process. Potential buyers and sellers should look for longevity in a company when they are seeking assistance with their real estate transactions.
The firm also takes a very active part in the community by supporting local chambers and service organizations. "We believe in giving back to the local businesses and supporting the towns that have been sustaining our firm over these many years," says Dadmun.
Although most of the clients that D’Elia and Cavanaugh handle are from the New England area, in the late 1980s and early 1990s during the Iraqi occupation of Kuwait, the firm was hired by some new clients. Upheaval created in Iraq's economic system, forced exiles from that area to flee to the United States. It was at that time that D'Elia & Cavanaugh added to their list of lenders to include the Bank of Kuwait through its American subsidiaries. "We are truly a client’s real estate partner for life--here and abroad!" says Dadmun.
D'Elia & Cavanaugh is located at 161 Cranberry Highway (Route 6A) in Orleans, MA, 02653. 508-255-2255. Contact D'Elia & Cavanaugh for all your real estate, estate planning, probate and business law needs.
(Top right: Joseph H. D'Elia, Esq., bottom right: George B. Cavanaugh, Esq.)