why do you need an attorney when sell my house in massachusetts

Selling a home is a complex process that requires knowledge of and familiarity with local, state and federal laws. An attorney helps you protect your investment and assets while ensuring you’re conducting your side of the transaction legally — which can prevent costly missteps.

Full Answer

Do you need a real estate attorney to buy or sell?

Feb 16, 2017 · Why You Need an Attorney to Buy or Sell a House in Massachusetts Published on February 16, 2017 February 16, 2017 • 3 Likes • 0 Comments

What do I need to know before selling my home in Massachusetts?

Mar 18, 2019 · Do you need an attorney to sell a house in Massachusetts? Massachusetts requires that buyers use a bank attorney at closing instead of a title company. Because of this, 99.99% of sellers also hire a real estate attorney to balance the scales.

How much does a real estate attorney charge to sell a house?

Feb 04, 2020 · Your real estate attorney will prepare your deed to transfer to the buyer at closing. Again, this is a legal document that needs to be done right! A closing attorney could prepare this for you but they will charge you. Why not pay someone who is protecting YOUR interests? Your attorney should also be ordering any mortgage payoffs required and clearing any title issues …

What does a seller’s attorney do?

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 …

Do I need an attorney for closing Massachusetts?

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 you need an attorney to sell a 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 closing state?

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 ...

Is Massachusetts an attorney state for real estate?

Massachusetts is one of few so-called "attorney states" in the U.S. when it comes to real estate transactions.

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 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.

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 does a real estate attorney do for a buyer?

What Does A Real Estate Attorney Do? Real estate attorneys know how to, and are legally authorized to, prepare and review documents and contracts related to the sale and purchase of a home. In some cases, a real estate attorney is also the person who'll be in charge of your closing.Jan 6, 2022

What does a real estate attorney do in Massachusetts?

The responsibilities of a Massachusetts real estate lawyer include reviewing the contract, negotiating repairs, and making other changes to the terms of the deal. A lawyer will also attend a closing, which is the final step in executing a real estate transaction to ensure that everything goes fairly and smoothly.Jan 8, 2020

Do you need a buyers agent in Massachusetts?

In addition, if you are selling your home and plan to buy another home in Massachusetts or New Hampshire, we can represent you regarding the purchase of your new home. You do not have to use the agent selling your home as your buyer agent.

Do you need an attorney to sell a house in NJ?

No, you do not need an attorney to buy or sell a home in New Jersey. There is no legal requirement in New Jersey that an attorney must be involved in any stage of a real estate transaction.Nov 19, 2020

What is a purchase and sale agreement in Massachusetts?

In Massachusetts, a Purchase and Sales agreement is a binding contract that determines what the buyers and sellers are expected to do as well as important dates that occur during the transaction. It is the seller’s obligation to provide the Purchase and Sale agreement, most home sellers are not attorneys so they are best advised to leave the legal agreements up to a professional. A good real estate attorney will know what to include in the Purchase and Sale agreement to protect the seller’s interests.

Do I need an attorney to do a home inspection?

Depending on your sale circumstances an attorney may also be needed to prepare the proper repair agreement after the home inspection. You may need more time to move in which case a “use of occupancy” or a “rent back” agreement may need to be negotiated. Having an attorney working for you will represent your best interests during this process.

What is Massachusetts law?

Massachusetts law about real estate. A compilation of laws, regulations, cases, and web sources on real estate law. This is a general page, but there are many more pages on various aspects of real estate law. Be sure to see "Related" for other important topics. Skip table of contents.

What is the Massachusetts Registry of Deeds?

Massachusetts Registry of Deeds, Mass. Secretary of State#N#Provides links to all of the Registries of Deeds, which then provide access to addresses, phone numbers, and websites for the individual registries.

What is the meaning of Brennan v. DeCosta?

DeCosta, 24 Mass. App. Ct. 968 (1987)#N#"As a general rule, the title of persons who acquire land bounded by a street or way runs to the center line of the way, G. L. c. 183, § 58 , and carries with it the right to use the way along its entire length... To that general rule, however, there are limitations."

Do sellers have to disclose to buyers?

Sellers and brokers do not have to disclose to buyers or tenants the fact that a property is perceived to be tainted by the health of a previous occupant, a murder or suicide, or paranormal phenomena. However, they may not be deceitful in answers to questions about the property. St.1983, c.527 Condominium conversion.

Who can handle condo closings in Boston?

The seller will need to provide condominium documents to the Buyer and provide a 6D certificate at closing. The Greater Boston real estate attorneys at the Law Office of Timo thy A. Sherman can handle both.

Can a POA be used to sell a house?

Selling a home can take a lot of work and effort. It can be stressful. Properly using a Power of Attorney, aka a POA, can reduce stress, save a seller time and eliminate the need for the seller to attend the closing. The real estate lawyers at the Law Office of Timothy A. Sherman always include the drafting of the Power of Attorney in their attorney fee.

Do you need a lawyer to sell a 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.

Can you sell a private sewer system in Massachusetts?

Generally speaking, the answer is yes . There are a few exceptions to the Massachusetts state law governing private sewer systems. The include:#N#1. Exception if the system has passed a septic inspection within the last 2 years of the closing date.#N#2. You are selling the home to an immediate family member.

Why do you need an attorney for real estate?

An attorney helps you protect your investment and assets while ensuring you’re conducting your side of the transaction legally — which can prevent costly missteps. Real estate attorneys are required in many states, but even if you aren’t legally required to use an attorney while selling, it can be a good idea.

What is a real estate attorney?

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 prevent mishaps. Selling a home is a complex process ...

How much does a real estate attorney charge?

How much does a real estate attorney cost? How much you’ll pay for real estate attorney fees depends on your market and how involved they are in the transaction, but they typically charge a flat rate of $800 to $1,200 per transaction. Some attorneys charge hourly, ranging from $150 to $350 per hour.

What to do if you inherited a home?

An attorney can help you navigate the complexities. Estate sale: If you inherited the home you’re selling, hiring an attorney to sort through ownership documents can ease the burden, which is especially helpful when you’re grieving the loss of a family member.

Who is responsible for underwriting title insurance?

Title company: A representative of the title company is responsible for underwriting the title insurance and transferring the clean title of the home to the buyer.

Who hires an inspector to inspect a house?

Inspector: The inspector is hired by the buyer. Their job is to make sure the buyer knows about everything that may need to be repaired on the home. Sellers also sometimes hire an inspector to do a pre-inspection so they can make any necessary repairs before putting the house on the market.

Do you need an attorney for a closing?

In 21 states and the District of Columbia, attorneys are legally required as part of the closing process. Attorney-required states include: As a best practice, if the other party in your transaction has a lawyer representing them and supporting their best interests, you should too.

How does a realtor work in Massachusetts?

How realtor commissions work in Massachusetts. Traditionally, both the buyer's agent and the listing agent are paid a commission by the homeowner. When sellers work with a realtor, they negotiate a commission as part of the listing agreement.

How to sell a house without a realtor?

In order to sell a home without a real estate agent, you'll need to price it competitively. Set too high of a listing price, and you'll limit your buyer pool. But if you price it too low, you'll leave money on the table.

What is FSBO selling?

Selling without a real estate agent, known as listing For Sale By Owner (FSBO), is a viable option for experienced home sellers who are willing to put in the time and effort. However, selling FSBO has risks.

What to do when you find a buyer for your house?

Once you find a buyer for your house, it's time to start the closing process. In a typical real estate transaction, your agent will make sure you fill out all the necessary documents and forms. As a FSBO seller, you'll have to navigate the paperwork by yourself.

How much less does a FSBO home sell for?

Research shows that FSBO homes typically sell for about 6% less than those listed with agents AND you'll still usually be on the hook for offering a competitive buyer's agent commission. FSBO homes also often take longer to sell and are more likely to fall out of contract after accepting an offer.

Is my home on the MLS?

Less visibility with buyers: Unless you pay for a flat-fee MLS service, your home won't be on the local MLS. Most agents use MLSes (not Zillow and Trulia) to find properties for their clients and most buyers work with a realtor. So if you're not on the MLS, fewer buyers will see your listing.

How much does clever pay?

You pay Clever nothing and only pay your full-service agent $3,000 (or 1% on homes over $350,000) if and when your home sells .

What is a septic system inspection in Massachusetts?

According to Title 5 of the Massachusetts Code (15 CMR § 15.301), sellers of homes that have a septic system must not only disclose this in writing to buyers, but have it inspected within the two years leading up to the sale and give the report to the buyers and to the local board of health. This is commonly called a Title V Certificate.

Can you lie about a home inspection?

And you cannot legally lie or actively hide the truth.

Does Massachusetts require lead paint?

Massachusetts law requires only that home sellers disclose the existence of lead paint (see the Massachusetts Lead Paint Statute) and the presence of a septic system (see Title 5 of the Massachusetts Environmental Code ).

Do you have to disclose the truth when buying a home in Massachusetts?

If the prospective buyer (or buyer's agent) asks you (or your agent) specific questions about the condition of the property, or if you volunteer certain information about the property, you are required to disclose the truth—or at least any facts that that a reasonable person would rely on in making a decision to purchase a home. This standard comes from various Massachusetts court decisions in individual cases. In other words, you can't lie, obfuscate, or conceal important truths once a buyer takes an interest in a certain aspect of your property.

Do you have to disclose your home to the buyer?

This basically mean there is not a lot you are legally required to disclose to the buyer when selling your property. The burden is on the buyer to ask the right questions and perform a home inspection in order to determine the property's physical condition, features, and so forth. Massachusetts law requires only that home sellers disclose ...

Can you lie about a property?

In other words, you can't lie, obfuscate, or conceal important truths once a buyer takes an interest in a certain aspect of your property. Unfortunately, exactly how much you need to disclose is a subjective determination and depends on the facts of each situation.

Can you have a home inspection in Massachusetts?

Most Massachusetts buyers who have entered into serious negotiations to buy a home will also reserve the right to have the property inspected by a licensed home inspector. After this inspection, buyers often come up with additional questions about the property's condition.

Why do I need a real estate attorney?

Many experts argue that one of the best reasons to hire a real estate attorney is that they’re the only party who isn’t working on commission – meaning that , since they don’t have a financial stake in the final sale price of your home, they’re the only truly neutral third party.

Why is a real estate attorney important?

A good real estate attorney provides a backstop for your real estate agent, finding loopholes in the purchase agreement, saving you money with contingencies, and maybe even insulating you from lawsuits years down the line. Let’s go over some of the situations where hiring a real estate attorney is a good move, the responsibilities ...

How much do real estate attorneys make an hour?

Real estate attorneys are paid by the hour — market rates are between $150 and $350. You may be able to negotiate a flat rate, or a cap on the number of hours they work on your behalf.

Why do agents work on commission?

Works On Commission. Because most agents work on commission, they make more money the higher the final sale price goes. That’s great if your priority is extracting every possible dollar from your sale. But sometimes sellers just want a quick sale, or want their property to pass onto someone who appreciates it.

What are the benefits of being an agent?

A great agent doesn’t just help you buy or sell a property; they also offer a sympathetic ear, gentle advice, and all around emotional support. A huge financial transaction can be a huge source of stress, and a good agent knows how to reassure their clients.

What is a purchase agreement?

The purchase agreement is a legal contract that outlines the rights of the seller and the buyer. A lawyer can review this contract and make sure you’re receiving all the protections and assurances that you should be. Signing an incomplete or sloppy purchase agreement can leave you vulnerable later, even if you abide by your state’s disclosure laws.

Is a realtor a negotiator?

Real estate agents may be skilled negotiators, but their leverage is limited. An attorney wields the threat of litigation, which is expensive and, if the other party is in the wrong, potentially disastrous. That means they wield significant influence in any negotiation.