what does a real estate attorney do for a seller massachusetts

Key Takeaways

• A real estate attorney prepares or reviews all of the documents that are signed at the closing of a real estate purchase.
• The attorney is then present at the closing to represent the buyer's (or the seller's) interests.
• Real estate law is a matter for state and local jurisdictions.

Full Answer

Do I need a lawyer to buy a home in Massachusetts?

Massachusetts is one of few so-called "attorney states" in the U.S. when it comes to real estate transactions. That means that Massachusetts home buyers and sellers typically have an attorney represent them, in keeping with Massachusetts General Laws Chapter 221, Section 46a, which prohibits the unauthorized practice of law by nonlawyers. (In most other states, real estate …

What does a real estate attorney do when selling a house?

The "closing or settlement of the types of real estate transactions described in the record require not only the presence but the substantive participation of an attorney on behalf of the mortgage lender, and that certain services connected with real property conveyances constitute the practice of law in Massachusetts." Outlines what constitutes unauthorized practice of law in …

Who pays closing costs in a Massachusetts home sale?

Real estate attorneys help oversee home sales, from the moment the contract is signed through the negotiating period (aptly called the “attorney review”) to closing. A seller’s attorney reviews sales contracts, communicates terms in a professional manner and attends closings to …

How much does it cost to sell a house in Massachusetts?

Jan 08, 2020 · Typically, a real estate lawyer comes on board after the real estate agents have established the selling price and terms of the contract. The responsibilities of a Massachusetts real estate lawyer include reviewing the contract, negotiating repairs, and making other changes to the terms of the deal.

Do sellers need an attorney in Massachusetts?

As a home seller in the state of Massachusetts, you have the option to hire an attorney to assist with the legal aspects of your home sale. Although hiring an attorney is optional, there are many benefits of doing so.Jul 27, 2018

Does a seller need an attorney at closing in MA?

In Massachusetts, the practice of closing transactions for buyers and sellers when there is a home loan is considered the practice of law; therefore, the settlement agent for any real estate closing involving a lender must be conducted by a licensed attorney.

Do I need a real estate lawyer to sell my house in Massachusetts?

There is no requirement that you hire a real estate lawyer in Massachusetts. But when selling a large asset, having proper legal protection and guidance is recommended. Typically, the buyer will have an attorney and the seller of a house should also have legal representation.

Is Massachusetts an attorney state for real estate closings?

Several states have laws on the books mandating the physical presence of an attorney or other types of involvement at real estate closings, including: Alabama, Connecticut, Delaware, District of Columbia, Florida, Georgia, Kansas, Kentucky, Maine, Maryland, Massachusetts, Mississippi, New Hampshire, New Jersey, New ...

Does the seller have to be present at closing Massachusetts?

Closing is also often referred to as 'Passing of Papers'. ... The sellers agent needs to provide certain paperwork for closing, but these can be provided to the sellers attorney prior to closing, and if so, then the sellers agent does not need to attend but if they do then they are just there for moral support also.

Who prepares the purchase and sale agreement in Massachusetts?

1. The seller's agent or attorney will draft the Purchase and Sale Agreement (P&S). This is the more binding legal document that is the official contract to purchase the home.Oct 9, 2016

What do you have to disclose when selling a house Massachusetts?

Although a disclosure statement is not required, the state does mandate the disclosure of two types of information to any prospective buyer: the existence and hazards of lead paint, and the presence of a septic system on the property. Sellers in Massachusetts must disclose the presence of lead to prospective buyers.

Do you need a realtor to sell a house in Massachusetts?

You will have to list your house with a Massachusetts state licensed flat fee MLS real estate broker and offer a buyers agent commission but you still retain the right to sell FSBO.

How do I sell my house in Massachusetts?

JUMP TO SECTIONFinding a Massachusetts realtor.Deciding when to sell.Pricing your home.Preparing, marketing, and showing your home.Fielding offers and negotiations.Appraisal and inspections.Paperwork and required Massachusetts disclosures.The closing process.More items...•Oct 21, 2021

How long does it take to close on a house in Massachusetts?

Closing on a house takes 30 to 45 days from when your loan begins processing. And an hour or so on the day you sign the final paperwork.

What are lien theory states?

What is lien theory? In lien theory states, the borrower holds the title to the property. Instead of a Deed of Trust, a Mortgage is recorded in the public record and acts as a lien against the property until the debt is paid off. With a mortgage, a homeowner has both legal and equitable title.

Do I need a lawyer to refinance my mortgage in Massachusetts?

Lenders are required to be represented by an attorney in residential mortgage refinances. The borrower always pays the lender's attorney's fees. You should also have a real estate attorney to protect your interests.