RESIDENTIAL REAL ESTATE TRANSACTIONS

The buying and selling of residential real property is probably the biggest economic investment that most of us make in our lives. It is important that both buyers and sellers fully understand the legal implications of selling and buying a home. Gerald J. Sullivan is an experienced transactional real estate attorney who can help you through the process.

The typical representation for sellers, whether through a real estate agent or “by owner”, includes, but is not limited to the following legal services:

· Review of the Real Estate Broker Listing Agreement, if applicable

· Review of the Sales Contract

· Ensuring that the Seller has made the necessary legal disclosures regarding the property

· Amending the contract, if necessary

· Ensuring that you meet all of your contractual obligations, including the providing of title insurance and a survey

· Communication with both you and the attorney for the buyer

· Preparing all documents necessary to effect the closing of the sale

· Ordering a payoff statement from your current lender and providing for the payment of your current mortgage, if applicable, from the sale proceeds

· Assisting you throughout the process and answering any questions that you may have

· Resolving any disputes with the buyers regarding the property

· Obtaining any required municipal stamps or certifications

· Attending the closing and ensuring that the sale closes

The typical representation for buyers includes, but is not limited to the following legal services:

· Discussing your offer, with or without your real estate agent

· Reviewing the Contract Offer

· Making amendments and counteroffers until a final contract is agreed upon

· Examining the title to the property

· Working on your behalf with regard to any home inspection deficiencies that are discovered

· Examining the property survey

· Working with your Mortgage Lender to obtain the correct loan for your current and future plans

· Assisting you throughout the process and answering any questions that you may have

· Resolving any disputes with the sellers regarding the property

· Attending the closing and explaining all documents of title and loan documents that you will be required to sign

Unless the residential real estate transaction is extremely complicated, legal fees are based upon a flat rate fee and not billed on an hourly basis. In most instances, you will be provided a written attorney fee agreement for a flat rate fee.