If you are buying a home from a family member, or selling a home to a family member in Massachusetts, our attorneys can assist with drafting or writing the Offer to Purchase and/or the Purchase and Sale Agreement. The following list includes the information we would need to draft the sales contract:
-The Property Address
-The Seller’s Complete Names and Address
-The Buyer’s Complete Names and Address
-The Purchase Price
-The Amount of Funds Deposited With The Offer To Purchase (If Applicable)
-The Amount of Funds To Be Deposited With The Purchase and Sale Agreement
-Who Will Be Holding the Deposit
-Gift of Equity (if applicable, this is an amount “gifted” to the buyer from the seller in lieu of or in addition to a deposit)
-The Closing Date
-The Financing Amount
-Amount for Closing Cost Credit From Seller to Buyer (If Applicable)
-Contingency Date For When Financing Will Be Applied For And When Approval Should Be Available
-Broker Commission (If Applicable)
-Items Included With The Sale Of The Property At No Monetary Value (eg. Refrigerator, Washer/Dryer)
-Any Quirky Items Not Mentioned Here That Are Specific To This Transaction
The following are items a seller is responsible for before clsoing
1. Smoke/Carbon Detector Certificate from the Fire Department of your town.
2. Any final readings that may be needed for town utilities (water, sewer, etc)
3. Deed Preparation
4. Payoff Information for any current mortgages
5. 6d, if condominium
6. Title V compliance/inspection if private septic
About the author: The above Real Estate information on Massachusetts Settlement Agent was provided by Timothy Sherman, an active attorney in the real estate law field. Tim can be reached via email at [email protected] or by phone at 781-664-4936. Attorney Sherman has helped people close on their homes in many Massachusetts cities and towns for the last 9+ Years.
Thinking of buying, selling or refinancing your home? I have a passion for Real Estate and love to share my legal expertise!
I handle closings throughout the South Shore and Greater Boston Area such as: Boston, Braintree, Canton, Cohasset, Dartmouth, Dedham, Duxbury, Fairhaven, Hanover, Hingham, Marshfield, Milton, Nantucket, Newton, Norwell, Plymouth, Quincy, Walpole, Wellesley, Westwood, Weymouth and Wrentham.
