In Massachusetts, the closing attorney (settlement agent) oversees all the proceedings, outside of the loan approval process, necessary to close the lender's mortgage transaction. The closing attorney typically represents the lender in the mortgage loan transaction. Although operating as settlement agent for the lender, at P5 Legal it is my practice to be as helpful as I can assisting you through the mortgage loan process.
In every real estate transaction the closing attorney will:
With the sale and purchase of a property the closing attorney will also:
When P5 Legal is working on your closing you can be sure of:
You have been looking and looking, open houses, property's that sounded good on paper but left you wanting and finally you found a house that could be your home (or piece of land where you can build your home). You and your sales agent sit down to fill out a simple looking form, it is one page maximum two, but make no mistake, an Offer to Purchase is a big deal. If accepted, it forms the basis for the transaction. Yes, there is a Purchase and Sale Agreement that will ultimately replace the offer, but once your offer has been accepted, the proverbial, "die has been cast". The right time for you to get independent legal advice concerning what the Offer to Purchase should include is before the blanks are filled in and the seller has accepted your Offer to Purchase. When you are ready to make an Offer, I strongly suggest that you take a step back and get good independent legal advice from a person who is working to protect your interests – your attorney.
You have just been delivered an Offer to Purchase and you have at most two days to decide what to do. Again, my advice is to get good independent legal advice from a person who is working to protect your interests – your attorney. I recommend retaining the services of a lawyer at the time you list your property for sale. This way when an offer is made you have someone already on your team to offer independent advice concerning the terms and conditions for the sale of your property.