About 15 miles up the coast from Boston is the North Shore village of Swampscott, which has a population of around 15,000. As one of the wealthier communities in Massachusetts, it is a desirable place to live and play. Among its amenities is that it sits on the Atlantic Ocean with 5 sandy but accessible beaches along a mostly rocky shoreline. In the more upscale beachfront areas, home prices are typically several million dollars. Though inland residences are from $500,000 and up, you can find homes for under $300,000.
If you plan on moving to Swampscott, are looking for investment property, a second home or wish to upgrade within the community, then retaining Swampscott real estate lawyer Deborah Gold-Alexander to protect your interests is essential.
The legal issues and matters that a well-rounded real estate attorney like Ms. Gold-Alexander can handle for you include:
- Drafting and negotiating buy-sell agreements
- Arranging for financing
- Advice on development and zoning for commercial properties
- Consulting on condominium conversions
- Negotiating and handling landowner disputes
- Resolving title defects
- Handling all aspects of residential lease transactions
- Advising on short sales and foreclosures
Massachusetts law does require that an attorney preside over all residential closing transactions. Though you can use the attorney provided by the lender, you do have a right to your own Swampscott real estate lawyer at the closing. But if you are investing in real estate, it is sound practice to retain a lawyer at the earliest stages of your buying decision to minimize potential obstacles that can derail a sale and could cost you thousands of dollars that you could have saved.
Attorney’s Role at a Closing
At your closing, Ms. Gold-Alexander will perform certain functions for all the parties, including buyer, seller, lender and real estate agent. These include:
- Reviewing the municipal lien certificate prepared by the tax collector in Swampscott indicating any municipal liens and outstanding taxes
- checking and certifying the title abstract
- Evaluating the mortgage survey plan for zoning violations or encroachments unless the lender does not require it
- Ensuring the buyer purchases a loan and owners’ policy of title insurance in case of title disputes not indicated in the title review
- Examining mortgage and lien payoffs
- Preparing loan documents and settlement statement
- Serving and explaining truth in lending disclosure
- Ensuring purchase proceeds are kept in an IOLTA account
- Recording documents
- Seeing that recording and transfer fees are paid
- Delivering loan documents to lender and buyer or borrower
- Paying of commissions
- Distributing the transaction proceeds
Issues that can stall or cause a transaction to fall through include obtaining suitable financing, disputed title claims and defects and failure to disclose material matters that affect the price. Sometimes more mundane issues can delay a deal such as the wish that a particular feature or fixture be included in the transaction. An experienced and resourceful attorney like Ms. Gold-Alexander can negotiate and advise you regarding serious and not so serious issues that can, nonetheless, derail an otherwise satisfactory agreement.
Attorney Deborah Gold-Alexander has nearly 30 years’ experience in handling all types of real estate issues in Swampscott and the surrounding communities, and is a real estate attorney whom numerous clients have retained over the years for all their real estate needs. Call her today for a free, initial consultation if you have an interest in Swampscott real estate.