Property Transactions involve the purchase, sale, lease, construction or subdivision of real estate. Purchasing a home or commercial property can be one of the most significant investments that you will ever make. Getting the right legal advice is vital to ensure that all steps are taken to protect your interests. There are a number of factors that influence the value of a property, including its location, marketability, and the type of building. You may also need to consider whether to use an escrow account or not, and how to handle financing and other details associated with the sale.

When a person or business wishes to Streamlined Massachusetts Property Transactions, they normally hire a real estate broker or attorney who specializes in real estate transactions. They will review the property’s records and marketability to determine what is a reasonable price to ask for the property. They will then prepare and negotiate a sales contract with the buyer. A title insurance company or attorney is typically hired to do a title search to ensure that the seller has clear and marketable titles to sell.

Real estate is a very complex investment, and there are many rules and regulations that must be followed to avoid legal complications. For example, buyers must be pre-qualified for a mortgage and have the necessary down payment in place before making a purchase offer on a property. The buyer’s real estate agent will submit the offer to the seller and negotiate on their behalf. The seller can accept, reject or make a counteroffer on the offer.

Once a purchase agreement is in place, the real estate attorney will assist the purchaser with obtaining an inspection report and any agreed upon repairs. The escrow account is opened, and the funds are transferred when all conditions of the sales contract have been met. During this period, both parties will be required to provide documents, such as the deed, survey, previous title policy and certificates of occupancy.

Determining a property’s value is a complex process and often requires comparing the property to similar properties in the area that have recently sold. A professional appraiser will select at least three comparable sales, or “comps,” that are within a certain distance of the subject property and have similar characteristics. For example, the property’s exterior condition, number of bedrooms and bathrooms, popularity of the architectural style, utility systems and neighborhood amenities can affect its value. Crime rates can also have an impact on a property’s value.

When the sale is complete, the closing process will take place and the real estate agent will distribute the official copy of the deed to the buyer and lender. The buyer will then transfer the funds to the escrow officer. The escrow officer will then disperse the funds to the seller, pay any real estate taxes and homeowner’s insurance and provide copies of the closing statement to the buyer and lender. If there are any liens on the property, the buyer’s lawyer will work to resolve them.