When you contact The Law Offices of Lipsey & Clifford, P.C., we will ask for all of the information available at that point that is vital to the transaction. When our office receives a copy of the Purchase & Sale Agreement (P&S) from the broker or from the buyer's attorney, we will review it to make sure that it is consistent with the information provided by you, as well as in your accepted "Offer to Purchase Real Estate."
There are several reasons that it is important for a Seller in a real estate transaction to have an attorney review and negotiate the "Purchase & Sale Agreement"(P&S). The "Doctrine of Merger" applies to real estate transaction in Massachusetts. This doctrine stands for the principal that once the deed is delivered to the buyer ("Passing of Papers"), the P&S is "merged" into the deed. Another way of saying this is that the P&S dies upon the passing of papers and is now rendered completely worthless.
When negotiating a P&S for a Seller in a real estate transaction, it is important that the real estate attorney makes sure that no portion of the Agreement will survive the passing of papers. Particularly, the Seller should make no warranties of any kind in the Agreement. Some Buyers' attorneys will often ask the Seller to make certain warranties and representations regarding not only the condition of the property, but regarding other matters that may affect the property as well. It should be made clear that the Buyer has had an opportunity to conduct an inspection of the property by a home inspection professional, and that he is basing his decision to purchase the property solely upon the results of that inspection, as well as his own observation regarding the property, and the inspection of the public records affecting the property.
If you have any questions or concerns, please contact attorney Scott Clifford or one of our many office locations across the South Shore.