Fitchburg Real Estate
When you are involved in buying or selling a home, or conducting some other real estate transaction in Fitchburg, you should retain an attorney. An experienced attorney is required by law for the closing, and they may also be crucial to ensuring that a transaction goes smoothly. Among other things, a Fitchburg real estate attorney can make sure that a buyer is acquiring clear and marketable title and obtaining needed disclosures. They also can help ensure that a seller has priced a home appropriately and draft a purchase and sale agreement that protects their interests. At Pulgini & Norton, we have experience handling all aspects of property transactions.Guidance in Real Estate Matters
Among other things, both buyers and sellers need to be sure that they are appropriately valuing a home. While banks and lenders often rely on an automated value model, such an approach is not always the best one, and you may need an appraiser to come out to the home to determine its true value. There are many ways that a human appraiser estimates value, including an income capitalization approach, a cost approach, and a sales comparison approach.
Real estate appraisers should be licensed and experienced and adhere to the Uniform Standards of Professional Appraisal Practice. An appraiser may come out to visit a property but not know at first sight what the value of the property is. The more unique features that there are, the longer it is that an appraisal may take. A homeowner may be asked questions about structural damage, easements, and water leakage.
In Massachusetts, a seller is required to make very few mandatory voluntary disclosures. By law, a seller is required to disclose that there is lead paint on the property if there is and disclose that a septic system is present. Unlike in some other states, a seller does not need to volunteer that there was a murder or suicide on the premises. However, they may not lie to a buyer when faced with a direct question. For example, if you ask the seller whether anyone has an easement on the property, they are not permitted to lie and say that there is not if there is. A real estate lawyer in Fitchburg can help buyers identify useful questions to ask.
Once a buyer has conducted a home inspection, they may have further questions about the property. It is crucial for buyers to be aware that a home inspection may not be sufficient. If an inspector notices things that require further inspection, such as possible structural issues, a special inspection will be needed to address that issue. However, if you ask the seller directly, the seller is supposed to give you truthful answers about potential structural problems. As a buyer, you may want to obtain additional disclosures in your purchase and sale agreement, including disclosures about asbestos or underground storage tanks.Seek Advice from a Real Estate Attorney in Fitchburg
Fitchburg is located in Worcester County and has a population of over 40,000 residents. Its total area is about 28 square miles. If you are buying or selling real estate there, you should consult a Fitchburg real estate lawyer. At Pulgini & Norton, we have significant experience with all aspects of property transactions and can guide you in your first steps toward buying or selling a home, obtaining a mortgage or refinancing, or dealing with other aspects of ownership. For a consultation with a property transactions lawyer, contact us online or call us at 781-843-2200.