Purchase And Sale Agreement Ma: Fill & Download for Free

Find a house that you want to buy.Hire an attorney to walk you through the process. Here in MA, we start with an offer with both parties signing it. Take this and have your attorney write a Purchase and Sale Agreement. This will require you to put 5% down as security. After both parties sell it, you take this to a loan officer or pay cash.If you have the cash, pay for it with a cashier’s check.If you need to borrow money to buy it, go to a bank or some financial institution and talk with a loan officer. He’ll tell you want documents you’ll need to bring to your next meeting. I can tell you that you’ll need to prove your ability to pay the loan back plus interest. Checking account information, a few years of Federal tax returns, SS# for a start. If there is any problem with those papers, he’ll ask for written explanations.Once the loan comes through, your attorney will arrange the closing. Both seller and buyer meet and sign the deed and record it at the Registry of Deeds. You sign the mortgage. That’s it.

I answered a like questions a few months ago. There was a dealership in Wilmington Massachusetts who employed this tactic. They wouldn't return you keys until THEY were satisfied you were shown and would not buy all they had to offer. The MA state Police got wind of this and sent in plain clothed officers, posing as couples, to look at and possibly 'buy' a car. First action by the dealership... take the keys. They needed to: 1) evaluate the trade, 2) move the vehicle 'out back' so it wasn't in the way, 3) all cars are put out back, the front is for new car sales only, 4) they would shuttle you to the car you were interested in then move your car 'out of the way'. You would get your keys back when they wanted to do so OR when you made enough noise in front of other customers. After the MA state police built enough of a case, giving every sales person enough rope to hang themselves, the door was slammed shut and all were charged with multiple charges including GRAND THEFT AUTO (taking the keys and not returning same upon request), unlawful restraint (holding you, not allowing you to leave via YOUR car) and a litany of other charges. The dealership SEEMED to have gone out of business but WAIT, not so fast! They only MOVED to Tewksbury MA (if I recall) and opened under a new name. I doubt they carried on with that tactic as they were surely watched by the state who had to have known of this as the new dealership bears the name of the family name of the Wilmington MA dealership.To answer your question directly: demand your keys ONCE. Give them ample time to comply. If they do not in say, five minutes, DEMAND AGAIN threatening to call the police. If they balk, call the police without asking a third time and prefer charges for grand theft as that is what it is when they refuse to return the keys.The best way to avoid this? DON'T GIVE UP YOUR KEYS! Ana evaluation of your trade is unnecessary until you find a vehicle you like and want and then only after you come to a price agreement, less your trade.When I went to look at trucks, I told them I had no trade. They asked where I parked, I told them on the street (or I was dropped off) so they never asked for my keys. When I found a truck I liked, I dickered on the price, 'without a trade' then sprung a trade on them. Difficult to jack the price after when the trade is now on table.One other time I bought at a dealership, I did the same and had a friend let them evaluate my trade as 'his'. When I was done talking price, I KNEW what my trade offer was going to be! No, I'm not liked by dealership salesmen.My anonymous comment is due to the... former and most likely current associations kept by the dealership / ownership involved. I would rather not call attention to myself given the information I have provided here.

I’ve personally found realtors to get in the way on many real estate transactions, both as a buyer and a seller. I’ve had to bypass them and speak directly to the other party to get deals closed. While I’m sure there are very good professional realtors out there, I’ve only worked with one or two that I thought actually contributed to the deal.I think one of the major cons of going direct would be if either of the parties involved isn’t well versed in executing these types of transactions. I had one house I purchased where the seller was a group of 4 adult children who had inherited their father’s house, none of whom seemed to have any clue what they were doing. In this case, it was easier to deal with their realtor and let her earn her money mediating the disputes among the sellers. I think that if they didn’t have a professional they could speak with who was telling them that my offer and conditions were normal and reasonable, they would have bickered among themselves and not accepted it.Another con of going direct would be dealing with an unrealistic owner’s expectations. I had one fantastic property I was interested in that the owner was selling directly. He was an architect and had overseen the restoration of a colonial era mansion that came out gorgeous. However, he was really proud of his work, and had priced the house about 30% higher than the market in his town. I made him an offer a bit above market value but way below what he was asking. He countered by lowering his asking price by $10k. I pointed out that he had already moved out, that it was November in MA, when the real estate market is typically dead until the spring, and that he’d have to pay to heat that giant house for the whole winter. He refused to move anymore on his price, and I moved on to buy another property. About a year later, I saw that he had finally accepted a bid $100k below mine for the property, and he had being paying utilities and taxes that whole time as well. If he had used a realtor, they probably would have gotten him to price the home for what it was worth, or at least helped him negotiate when I made my offer.There are some major pros to going direct. If the owner isn’t using a realtor either they aren’t paying a commission, so they are likely to have more negotiating room in their price.And by working with the owner directly, you can be sure that any communications regarding price negotiations, repair work, etc. are actually getting to the owner without being filtered by the realtor, who in reality isn’t working for either of you, but is interested in getting the highest possible commission while doing the least amount of work. For example, when I was buying the house I currently live in, which dates back to the late 1700s, I had a lot of questions about the renovations the previous owner had done and about some repair work that was needed following my home inspection. The realtor claimed that she had given my questions to the owner but hadn’t heard back, and said to just make a counter offer for $5k less than my original offer, and to do the repairs myself. That sounded fishy, so I drove past the house a few times until I saw the owner in the driveway. I pulled over, introduced myself, and asked if he had a chance to review my questions. He answered ‘what questions’? The realtor had never given them to him. I had a copy in my car, we reviewed them, quickly came to consensus on who would do what, and on a price. We shook hands, and I went home and had my lawyer write up a purchase and sale agreement, which I drove back over there and we both signed. If I hadn’t done that, his realtor would have cost us both the deal.Another similar benefit to working directly is that you avoid ‘playing telephone’ with the realtor in the middle, and can get transactions completed much more quickly and without multiple iterations. In my area, offers are generally made in writing, reviewed by an attorney, then passed through the realtor, with counter offers then sent back in writing by both parties until consensus is reached, or one party gets sick of the process and pulls out of the deal. I’ve found it much easier to deal with this negotiation verbally first, discuss any special terms either side has (e.g. moving date, known issues with the house, etc.), then have an attorney write up the offer documents. This saves time, legal fees, and gets everyone on the same page from the start, avoiding misunderstandings that could get in the way of a deal. If you know you aren’t going to offer more than $X, and the seller says they can’t take less than $X + $50,000, you can just walk away without incurring any cost.