The Hidden Costs of Buying Real Estate Without a Lawyer
When it comes to home buying, you probably already know that you will need a well-respected real estate agent. This person can show you homes you may not be able to find on apps, get you into private tours, and help negotiate the best price for your budget.
Similarly, when buying commercial property, your agent is there to help you find a building or space that meets your specific needs and expectations.
But what about a lawyer? Do you need a real estate lawyer when buying property – residential or commercial – in Massachusetts? Isn’t that just another extra cost to think about?
The answer is that, while you don’t legally need your own attorney to buy real estate here, it’s often a good idea to have one by your side. Here’s why.
Agents Can’t Offer Legal Advice
Your real estate agent’s job is to help you find a home or commercial space, make an offer to buy, guide you through inspections, and be with you at the closing. But they can’t offer you legal advice.
Say you’d like to amend your contract with the seller for whatever reason. Your agent isn’t legally allowed to make that change. Only your real estate attorney can do that. Attorneys can also perform title exams that discover any previous mortgages or liens on the property you intend to buy.
Your Lender May Require You to Have an Attorney
While Massachusetts doesn’t require buyers to have an attorney, some specific lenders might as a condition of closing. Check with your potential lender before proceeding without a property transaction attorney.
Your lender will also have their own attorney. You can use the same attorney to represent your interests and save money, a common practice in Massachusetts called Dual Representation.
Contact Lipsey & Clifford for Real Estate Transactions
A real estate attorney can go through your contract and find any loopholes to make sure you’re not overlooking hidden costs or fees, as well as guaranteeing you the best deal you can get. At Lipsey & Clifford, Attorneys at Law, we provide you with peace of mind and protection during your entire transaction.
Contact us today at 1-800-466-3130 or by email, and let us help you buy the property of your dreams!


