Legal Question in Real Estate Law in Massachusetts

Re: First Home Purchase

I find it useful to include conditions in the purchase and sales agreements I use that specifically condtion the agreements on my approval of the inspection report(s). If you are using FHA financing, it is wise the add a condtion in the agreement making the transaction conditioed on the property meeting/passing any/all current FHA standards.

If the bank is insisting on selling the property "as is" (many do), then you may wish to condition your acceptance (note: This may act as a "counter offer") on a monetary purchase price discount in the amount needed to cure any major habitability deffects in the property.

These are just a few thoughts. Feel free to contact us for a free discussion of these and other issues of concearn

Re: First Home Purchase

I find it useful to include conditions in the purchase and sales agreements I use that specifically condtion the agreements on my approval of the inspection report(s). If you are using FHA financing, it is wise the add a condtion in the agreement making the transaction conditioed on the property meeting/passing any/all current FHA standards.

If the bank is insisting on selling the property "as is" (many do), then you may wish to condition your acceptance (note: This may act as a "counter offer") on a monetary purchase price discount in the amount needed to cure any major habitability deffects in the property.

These are just a few thoughts. Feel free to contact us for a free discussion of these and other issues of concearn

Re: First Home Purchase

I find it useful to include conditions in the purchase and sales agreements I use that specifically condtion the agreements on my approval of the inspection report(s). If you are using FHA financing, it is wise the add a condtion in the agreement making the transaction conditioed on the property meeting/passing any/all current FHA standards.

If the bank is insisting on selling the property "as is" (many do), then you may wish to condition your acceptance (note: This may act as a "counter offer") on a monetary purchase price discount in the amount needed to cure any major habitability deffects in the property.

These are just a few thoughts. Feel free to contact us for a free discussion of these and other issues of concearn

Re: First Home Purchase

I find it useful to include conditions in the purchase and sales agreements I use that specifically condtion the agreements on my approval of the inspection report(s). If you are using FHA financing, it is wise the add a condtion in the agreement making the transaction conditioed on the property meeting/passing any/all current FHA standards.

If the bank is insisting on selling the property "as is" (many do), then you may wish to condition your acceptance (note: This may act as a "counter offer") on a monetary purchase price discount in the amount needed to cure any major habitability deffects in the property.

These are just a few thoughts. Feel free to contact us for a free discussion of these and other issues of concearn

Re: First Home Purchase

Most sales by lenders provide for you to terminate the Purchase and Sale Agreement if there is an inspection issue.

Either make an offer and do not sign the P&S until the inspection is done.

If you need assistance please feel free to contact me. You need to make sure your attorney has checked the foreclosure to make sure it is valid.

If you need assistance.

Re: First Home Purchase

Look at the offer sheet you made (assuming you did so in writing). Often they say the offer is contingent upon successfully retaining financing and upon the home passing inspection to your satisfaction. If that language is there, you're fine. If its not, try to amend the offer, in writing, by indicating your intent to make the offer contingent upon satisfactorily passing the inspction. This should not be a problem. If you need assistance, feel free to contact me directly for a free initial consult.