Buying Your Home:
When you have found a home, you must sign a binding contract that sets out all the legal terms of the sale. The Seller's broker prepares this "Purchase and sale Agreement". Your broker can assist you in interpreting this agreement, however, your broker is legally prohibited from giving you legal advice to revise this agreement.
Your attorney can review this agreement on your behalf and give you the Legal Advice necessary to revise this contract so that your rights as a buyer are increased. At the time of the closing, the Lender will be represented by their own attorney. You will be required to sign numerous documents that you have never seen before. Your own attorney can explain these documents to you and ensure that you are getting what the Lender promised.
Selling Your Home:
When you are selling your home, once a Buyer is found by you or your broker, you must sign a Purchase & Sale Agreement. If you are assisted in the sale of your home by a broker, he/she will prepare this agreement on a printed form.
If you are not represented by a broker, you must prepare the agreement yourself. This contract is subject to revisions by the Buyer or the Buyer's Attorney.
The use of your own attorney will give you the advice necessary to make or allow any changes to the contract that would minimize the possibility of unnecessary expenses, costly delays, or failed closings. Furthermore, it is your responsibility as the Seller of real estate to supply a new deed transferring your property to the Buyer. This legal document has to be precise in its language, the precision of which a qualified Real Esate Attorney can provide for you.
The closing is usually conducted by the Lender Attorney, and the Lender requires him/her to look after the Lender's interest. As the Seller you will be required to sign documents that you have never seen before. There is no attorney assigned to look after your interest, unless you hire your own Attorney
The Attorneys at the Law Offices of Milik & Medeiros, P.A. have been representing Buyers, Sellers and Lenders in Real Estate Transactions for over 15 years. Let our Attorneys and Staff reduce the stress that is going to accompany the largest purchase or sale of your life.
Milik & Medeiros, P.A. is a General Law Practice with offices in Billerica and Concord Massachusetts focusing on Real Estate Law Domestic Relations, Civil and Criminal Matters, Bankruptcy, Personal Injury and Zoning Matters.
For assistance contact our Staff.