Fall River Real Estate
Real estate transactions often involve regulations and documents that require a deep understanding of how these can affect the rights of the parties involved. At Pulgini & Norton, we offer dedicated representation to people throughout the Fall River area and beyond. Our property transactions attorneys have more than 40 years of total experience assisting homeowners, buyers, sellers, and lenders in real estate matters. We can advise you on your rights in a broad range of situations and help you protect those rights.Buying and Selling a Home in Massachusetts
The offer to purchase and the purchase and sale agreement are crucial to the completion of a Massachusetts property transaction. A prospective buyer will make a written offer to purchase the property to a seller. The offer to purchase typically includes the purchase price, the duration of the offer, and the date by which the parties will need to execute the purchase and sale agreement. It may also include an inspection or mortgage contingency clause, although the latter is usually left for the purchase and sale agreement. If the seller accepts the offer, the property is taken off the market while the buyer conducts its due diligence on the property, which may consist of inspecting the property or obtaining a mortgage commitment letter from a lender.
The purchase and sale agreement is the document that spells out the rights and obligations of the seller and the buyer. Most agreements are based on a form, which then needs to be negotiated by each party to protect its respective interests. For example, the buyer’s right to inspect the property is usually covered in the offer to purchase. If the inspection uncovered defects in the property, and the seller is willing to make repairs rather than have the buyer rescind the offer, the buyer will want to include an inspection clause in the purchase and sale agreement that addresses the seller’s obligation to repair the property and the buyer’s rights if the seller fails to do so.
The seller will also want to include terms and deadlines to ensure that the sale is timely. For instance, it will want the buyer to obtain financing by a specific date to avoid market fluctuations that could negatively affect the sales price if the deal falls through, and the property has to go back on the market. Our attorneys can review the offer to purchase and purchase and sale agreement, and negotiate terms that are favorable to you.Condominiums and Governance
You may be on the board of a condominium or other homeowners’ association (HOA). These organizations are responsible for how planned communities operate. They are guided by the condominium or HOA’s formation documents, such as the declaration of trust and bylaws, as well as their rules set out in their covenants, conditions, and restrictions. Some of their duties include collecting common charges, maintaining the condition of the property, and contracting outside parties for repair work.
Condominium associations and HOAs often run into issues regarding the governance of the community. For instance, they may need guidance on how to finance necessary repair work, or whether a particular change to the property requires a variance or special permit from the Fall River zoning board of appeals. They may also face challenges when a unit owner fails to pay his or her common charges. Massachusetts law gives a condominium association the right to secure a super lien on a unit if the owner is delinquent on his or her common charges. The process is complex, but if it is done successfully, it prioritizes the association’s lien on the property over any other non-municipal lien. We can review the governing documents in your matter and discuss the association’s rights under the law.Explore Your Real Estate Options with a Fall River Attorney
At Pulgini & Norton, our real estate lawyers provide knowledgeable guidance and advocacy to residents of Fall River and other communities throughout the state. We have handled numerous property transactions over the span of our decades-long practice in the law. You can depend on our thorough understanding of state and local rules and regulations, and the experience we have honed over the years, to provide you with thorough counseling and representation in your real estate matter. Call us today at 781-843-2200 to schedule a consultation. You can also contact us by completing our online form.