Real Estate Attorney in Boston handle a wide range of different types of transactions regarding Real Estate. Below are some of the most common transactions that Munson and Associates handle.
- Purchase or Sale of a Residential Property Having an attorney be a part of the purchase or sale of a residential property, such as a condo or a single family home, can help to ensure that your side of the transaction is being protected. For the buyer in a transaction, your attorney will write your new title policy, review and negotiate the purchase and sale agreements, order a title search on the property as well as a plot plan, order the Municipal Lien Certificate, payoff any existing loans, handle any title issues, and prepare closing documents, and disburse the funds that come through after the transaction has been completed. For sellers, your attorney will draft the purchase and sale agreement, negotiate the terms on your behalf with the buyer’s attorney, draft the new deed to convey the property to the buyer, prepare closing documents, and handle any potential title issues. Residential purchase or sale of a property is one of the most common types of transactions that real estate attorneys handle and can make the process much smoother for the parties involved in the transaction.
- Zoning and permitting Although often this is not a transaction per se, zoning and permitting is an involved process that can be quite daunting to someone who has not gone through the process before. When obtaining a permit in Massachusetts, there are zoning regulations that need to be met in order for your permit to be approved. If they are not met, you can apply for a variance for that violation. There are also many departments that could oversee the type of permit that you are wanting to obtain such as, the Building Department, Construction Department, and Planning Department to name a few. To obtain permits, there is a specific timeline that needs to be followed and a specific order that aspects of the application need to be submitted. If by the time your case gets to the hearing by the board, any of these documents are incorrect or filed in the wrong order the permit will be denied. To avoid this situation it is important to work with an attorney that has gone through these processes and has connections in the department to ensure that your permit request is done correctly by the time you reach the hearing stage.
- Refinances of Home Mortgage Massachusetts requires a real estate attorney to handle not only the purchase of a home but also a refinance of a home. A real estate attorney will handle the payoff of any outstanding loans as well as ensure that your real estate taxes have been paid and are up to date. The real estate attorney that you hire will also review the title of the property to ensure that it is clear before the refinance is closed and work with your Lender to finalize all of your Closing documents.
- Commercial Property Purchase and Sale With a purchase or sale of a commercial property there are typically three parties in the transaction. There is an attorney who represents the buyer, and attorney that represents the seller, and an attorney that represents the bank who will be the lender for the property. Similar to a residential purchase or sale, the parties will go through the process of drafting and finalizing the purchase and sale agreement, however there are aspects of the transaction that are more involved than the purchase or sale of a residential property. Before the purchase and sale agreement stage is reached a Letter of Intent to Purchase the property must be sent to the seller from the buyer. After this has been sent there is a period of due diligence that must be completed. During this stage the parties will look at environmental regulations, the potential leases of any other vendors that are in the commercial space, estoppel letters, and assignments that are a part of the property. This is beneficial for the buyer because once all the scenarios are thought through by all of the parties, the buyer is made aware of whether or not they will be able to use the space in the way that they intended to. Because this process is very involved and can take months, an attorney’s assistance is vital.
- Commercial Leases Leasing a commercial space can be overwhelming, as the issues to cover are vast. A commercial lease is not too different compared to a commercial purchase however attorneys will have to review the leases of any other vendors that may be using the same building to ensure that you can use the leased space as you intended. To ensure that the best possible lease is executed an attorney is a must, although not required by law. Commercial leases can place a tenant in a bind if an issue arises. Real estate attorneys will think through every scenario to ensure that both parties understand the contract they are entering.
Boston Real Estate Attorney’s handle a wide variety of real estate transactions. It is important for your legal protection as a Seller, Buyer, Landlord, or commercial Tenant that you consult a real estate attorney before and during the process of your real estate transaction. If you are needing assistance with any of these transactions, don’t hesitate to contact Munson and Associates to assist you through your property transaction process.
