Real Estate Sellers
When selling a home in Massachusetts, you have the option to hire an attorney. While this is common for buyers as well, there are a few reasons why we recommend legal representation for sellers.
In Massachusetts, sellers are required to draft the deed that transfers ownership from seller to buyer. Though closing attorneys typically offer this service, it would not include any type of legal advice or representation in other aspects of the sale. It’s worthwhile for you to pay a little more to have full representation – including deed preparation.
Purchase & Sales Review
In Massachusetts, real estate agents work with purchase and sales agreement (P&S) templates and will generally draft a preliminary P&S on behalf of the parties. These templates, however, don’t always include all terms that will protect your interests and rights as a seller. Additionally, your particular home sale may have specific conditions that need to be included in the P&S. When it comes to the addendum, it’s best for an attorney to draft and include it in the P&S agreement. It’s important to remember that a buyer’s attorney will often include an addendum with additional conditions that your attorney should review. Having a MA seller’s attorney review the document on your behalf is the best way to protect your interests.
Coordination for the Closing
In addition to the P&S review and deed preparation, a MA seller’s attorney will help gather the necessary information for the closing. This includes obtaining mortgage payoff figures, providing documents requested by the buyer’s lender, and reviewing figures on the closing settlement statement. This can help ease some of the stress associated with a closing and allow you to focus on packing and moving.
Legal representation for sellers can also include attending a closing on a seller’s behalf. If you are moving out of state or are selling and buying on the same day, your attorney can attend your closing. After signing, your attorney will make arrangements to transfer funds from the home sale.