In Massachusetts, hiring an attorney when purchasing a property can seem like an additional expense on top of the already pricey home-buying process. However, depending on how you are financing your purchase, it may be necessary to hire an attorney. Here’s what you need to know:
If you are taking out an investment loan to purchase an apartment in Massachusetts, the lender will likely hire an attorney to oversee the closing process, conduct a title examination, and draft the title insurance policy.
If you are buying the property in cash, it is still recommended that you hire an attorney who can serve in the same capacity and protect your interests. An attorney can ensure that the title is free of any liens or other encumbrances and can also review and negotiate the purchase and sale agreement before you sign. This can provide you with peace of mind and help ensure that you are making a sound investment.
Ultimately, while hiring an attorney may not be legally required when purchasing a property in Massachusetts, it can be a wise investment to protect your interests and ensure a smooth transaction.