Selling

• Review of any agreements with a real estate broker
• Help you decide whether you should sell the property yourself.
• Negotiate and review/prepare the offer to purchase and purchase and sale agreement
• Perform a title run-down
• Assist you in resolving and clearing any issues that may be found in the examination of your property’s title.
• Resolve issues which may arise during the transaction.
• Explain and assist you in understanding just what your buyer’s or lender’s requirements mean to you.
• Prepare the deed from you to your buyer.
• Represent you at the closing, review all closing documents and explain their meaning and significance to you.
• Answer questions you might have and resolve disputes that may arise at any time during the closing process.

Buyers and sellers involved in real estate transactions are often asked to sign documents that are frequently represented as “standard forms,” but they are legally binding contracts.  Both an Offer to Purchase and a Purchase and Sale Agreement have significant legal and financial consequences.  It is important that you are fully informed before signing any documents.  That is why it is crucial to have an experienced real estate attorney on your side.

As a seller you have an obligation to obtain, and record, discharges of any mortgages on the property, whether taken by you or a previous owner.  With all the paperwork problems during the “real estate boom” sometimes finding lenders and /or obtaining these documents is a time consuming process.  The earlier you consult with an experienced real estate attorney the earlier they can ensure your title is clear and that all necessary documentation has been properly recorded.  If this is not discovered until late in the process, it may delay closing or result in holding back some of the proceeds.  This usually creates a problem, because you are relying on the proceeds to purchase another home or something else.

Sellers should also be aware of their rights and obligations as it applies to disclosing information and whether they have an obligation to investigate certain information.   Massachusetts real estate law imposes an obligation that sellers disclose certain information to a potential homebuyer, while other information must only be disclosed if the buyer specifically asks for it. A broker typically provides a blank form entitled “Seller’s Disclosure Regarding Condition of Property” to the seller to complete.  Making sure you have met your responsibilities while not opening yourself up to any issues or liability is where an experienced real estate attorney comes in.

The Offer to Purchase is often prepared by the real estate broker when an offer has been received by a potential purchaser.  Typically, a seller is presented an offer on a pre-printed form with information specific to your transaction written in, like the price.  Though the offer form may appear to be fairly informal and a “standard form”, it establishes many important terms that you, as the seller, are bound to.

After the Offer to Purchase is accepted, the next “standard form” frequently prepared by the broker is the Purchase and Sale Agreement.  This Agreement creates the binding terms between the buyers and sellers. It is strongly advised that you do not sign this form without an experienced real estate attorney.  Your attorney will modify and delete certain clauses contained in this Agreement.  It is also customary to add additional provisions to this document.  These procedures cannot be done after the Agreement has been signed.