If you are buying a house in the England states of Massachusetts, Rhode Island, New Hampshire, Maine and Vermont, a closing attorney must be present at the real estate closing. However, in most cases, the closing attorney represents the interests of the financing company.
As the buyer, you have the option of having an attorney who will represent you and look after your rights. You’ll have to pay the attorney a few hundred dollars, but with an attorney on your side, you will be guided and protected during the entire home-buying process. Your attorney will also attend the closing, reviewing all the documents you sign to take ownership of your home.
Some buyers feel that having representation from a real estate attorney when buying a home is unnecessary. These buyers think they can save money by not hiring one. Contrarily, it is money very well spent, and can actually end up saving you money and trouble in the future. When you are buying your house, especially if it’s your first house, the process can seem too overwhelming, so working with an attorney can be quite advantageous. In Massachusetts and Rhode Island, a Purchase and Sales agreement is a binding contract which controls what the buyer and seller are allowed to do during the home buying transaction. A good real estate attorney will know what to include in the Purchase and Sale agreement to protect the buyer throughout the entire process. Your real estate attorney will help protect your deposit and should help you obtain any required extensions that may be necessary, such as a financing contingency date extension, if you do not get approved in time for your financing. Your real estate attorney is your personal resource to help you figure out solutions to any legal problems which may arise and to help you understand your obligations and liabilities. Additionally, they will look out for easements and title issues that can sometimes come up. Knowing that you are protected should any dispute arise during the property purchase and ensuring that your best interests are protected may be an additional fee you’d like to avoid, but the benefits are priceless. Thinking of buying your house, contact OwnerFinance for a more flexible qualifications, simpler paperwork, and getting assistance with down payment and closing costs. We work with you throughout the process till you get the keys to your new house.
An attorney helps to ensure that your legal rights are protected and that you get a fair deal. If there are issues found during the inspection, they can represent you and help with negotiations. The attorney can help to reduce the risk of legal issues arising after the deal closes, they can help to make sure the title is clear and more.
Buying a home for most people is the biggest investment of one’s life. Nowadays, with house prices going through the roof, people are spending several hundred thousand dollars to buy a home. Spending an additional few hundred dollars on legal counsel to ensure that your interests and assets are protected is only a tiny fraction of the overall transaction and is most certainly well worth it.
Questions? Contact:
Amin Shah
Shahclan Boston – OwnerFinance
Boston, MA -USA
Phone 617-787-5151
Email: aminshah@shahclan.boston
Text only: 857-303-1872