Feb 14, 2025 | Buying Real Estate, Consumer Tips, Home Buyer Tips, Home Buying Tips, Home Mortgage, Home Mortgage Tips, Home Seller Tips, Home Selling Tips, Home Tips, Housing Market, Investment Properties, Mortagage Tips, Mortgage, Mortgage Lenders, Mortgage Tips, News, Real Estate, Real Estate Agent Information, Real Estate Tips, Real Estate Trends, Realtors, Selling Real Estate, Selling Your Home
Below is our summary of significant legislative development that impacts our industry. The Massachusetts General Court has introduced a bill titled “An Act protecting consumer rights in purchasing safe and habitable homes.” This bill, presented by Representative Brian M. Ashe and others, aims to enhance consumer protection by ensuring that buyers have the right to conduct home inspections when purchasing residential properties. Below, I have provided a detailed summary of the key provisions and implications of this bill for real estate professionals.
The bill aims to ensure that buyers have the right to home inspections when purchasing residential properties, including houses and condominiums.
An inspection involves a licensed home inspector evaluating various components of the property, such as heating, cooling, plumbing, electrical systems, structural components, foundation, roof, and more.
- Buyers have the right to have the property inspected within 10 days of the seller accepting their offer, unless a different period is agreed upon in writing.
- Sellers cannot condition the acceptance of an offer on the buyer waiving their right to an inspection, except in certain cases like auctions or sales to close family members.
Every offer to purchase must include a clause informing the buyer of their right to an inspection and the conditions under which they can revoke the offer if significant defects are found.
- Sellers must comply with the inspection rights and cannot accept offers that waive these rights unless specific exceptions apply.
- Violations by sellers can result in damages to the buyer and civil penalties.
An inspection involves a licensed home inspector evaluating various components of the property, such as heating, cooling, plumbing, electrical systems, structural components, foundation, roof, and more.
This bill is designed to protect consumers by ensuring they have the opportunity to identify any significant issues with a property before finalizing the purchase.
The legislation has several implications for for real estate agents, brokers and Realtors:
Disclosure and Compliance:
- Real estate agents must ensure that all offers to purchase include the required language informing buyers of their right to a home inspection.
- Agents must be aware of the 10-day inspection period (or longer if agreed upon) and ensure that this is communicated clearly to both buyers and sellers.
- Agents cannot advise or encourage sellers to condition the acceptance of an offer on the buyer waiving their right to an inspection, except in specific cases like auctions or sales to close family members.
- They must ensure that sellers do not accept offers from buyers who indicate an intention to waive the inspection right, unless the exceptions apply.
Legal and Financial Implications:
- If a seller violates the provisions of this bill, the real estate agent could be implicated in any resulting legal actions or penalties. This includes potential civil penalties and damages to the buyer.
- Agents need to stay informed about the legal requirements and ensure their practices comply with the new regulations to avoid liability.
- The bill enhances consumer protection, which may increase buyer confidence in the real estate market. Agents can use this as a selling point to assure buyers that their rights are protected.
- Agents should be prepared to guide buyers through the inspection process and help them understand their rights and options if significant defects are found.
Overall, real estate professionals will need to adapt their practices to ensure full compliance with the new regulations, prioritize transparency, and protect the interests of their clients. This may involve additional training and adjustments to standard operating procedures.
Statutory Offer to Purchase Language
According to the bill each offer to purchase a residential structure or residential condominium unit shall include the following language:
“Buyer is entitled under section 115 of chapter 93 of the General 33 Laws to choose to have the premises inspected at Buyer’s expense within 10 days, or longer as Seller and Buyer may agree in writing, of Seller’s acceptance of Buyer’s offer to purchase. Unless one of the exceptions in said section 115 applies, neither Seller nor Buyer may make acceptance of this offer to purchase contingent upon waiver, limitation or restriction of Buyer’s right to choose to obtain a home inspection. Should Buyer choose to have the premises inspected, if it is the inspector’s opinion that the premises contain serious structural, mechanical or other defects and if the repair of such defects would cost Buyer in the aggregate more than the amount indicated by the Buyer herein ($________), then Buyer shall have the option of revoking this offer to purchase by written notice to the Seller or Seller’s agent within 5 business days of the date of the inspection, or longer as Seller and Buyer may agree in writing. Such notice shall be accompanied by a copy of the inspector’s opinion and a copy of cost estimates obtained by Buyer.”
Understanding and complying with this new legislation is crucial for all real estate professionals. By staying informed and adapting practices, we can better serve our clients and uphold the integrity of our industry. If you have any questions or need further clarification on this bill, please do not hesitate to reach out to one of our Real Estate Attorneys.
Providing title, escrow, closing and settlement services to clients throughout Massachusetts and New Hampshire
“I would highly recommend David as a closing attorney. I have known David and have been using his office for many years. David’s professionalism when dealing with me, my closing department and most especially my clients has been always exemplary.”
SENIOR LOAN OFFICER, SHAMROCK FINANCIAL SERVICES
“The Law Office of Attorney David R. Rocheford, Jr. is by far the most exceptional real estate law office that I have had the pleasure of working with. The professionalism is by far second to none.”
SENIOR LOAN OFFICER, SALEM FIVE MORTGAGE SERVICES
“Attorney David Rocheford has provided settlement and title services for me and Greenpark Mortgage several years. He has assisted all of my clients, including my family and friends with mortgage closings. Always providing excellent service. Reliable and trustworthy!”
Jan 15, 2025 | Buying Real Estate, Consumer Tips, Home Buyer Tips, Home Buying Tips, Home Closings, Home Mortgage, Home Mortgage Tips, Home Seller Tips, Home Selling Tips, Homebuyer Tips, Homeowner Tips, Real Estate Tips, Selling Real Estate, Selling Your Home
A lot of confusion arises from myths and misconceptions about what happens during closing. Don’t worry—today, we’re clearing up five of the most common myths surrounding home closings to ensure you have a smooth and stress-free experience.
The Closing Process is Fast and Simple
While some may think closing is a quick, simple formality, it’s actually an involved process. There are plenty of legal documents, paperwork, and financial steps that need to be finalized before everything is official. Expect the closing process to take some time—more than just a few minutes—and be sure to review all documents thoroughly.
You Have to Pay All Closing Costs Upfront
Many first-time buyers worry about paying hefty fees upfront. While there are indeed closing costs, such as title insurance and appraisal fees, you don’t always have to pay everything out of pocket at once. In some cases, closing costs can be rolled into your mortgage, or you may negotiate with the seller to cover part of these expenses.
You Can’t Back Out of the Deal After Signing the Contract
It’s a big commitment, but the truth is, you *can* back out of the deal under certain circumstances—like if you find issues during the home inspection or if the appraisal doesn’t come in as expected. There are contingencies in place to protect buyers, so be sure to understand your rights before moving forward.
You Must Attend Closing in Person
The idea of spending hours in an office, signing stacks of papers in person, is intimidating to many. However, in today’s digital age, remote closings are becoming more common. Depending on the lender and state regulations, you might be able to complete the process online or at a remote location, making it much more convenient.
The Closing Date is Set in Stone
Although the closing date is agreed upon early in the process, life happens, and delays can occur. From paperwork snafus to last-minute negotiations, don’t be alarmed if the date shifts a little. Your closing agent will keep you updated on any changes and help you navigate the process smoothly.
The home closing process doesn’t have to be stressful. By debunking these myths, you can walk into your closing day with confidence and the right knowledge. With the right team by your side, like The Law Office of David R. Rocheford, JR., P.C., you can enjoy this exciting time in your home-buying journey without any unnecessary worries.
Did you know that as a homebuyer, you have the legal right to choose your own closing attorney? Many buyers aren’t aware of this right, assuming the lender or realtor has control over who represents them during the closing process. However, selecting a trusted closing attorney is crucial for ensuring that your legal rights are protected, and that the transaction proceeds smoothly. A knowledgeable attorney helps manage critical tasks like reviewing closing documents, coordinating title insurance, and addressing any legal issues that may arise. By choosing the right attorney, you’re taking an active role in safeguarding your interests and ensuring a seamless home purchase experience. For more information on the closing attorney’s role and how it can impact your transaction, read our full article!
Providing title, escrow, closing and settlement services to clients throughout Massachusetts and New Hampshire
“I would highly recommend David as a closing attorney. I have known David and have been using his office for many years. David’s professionalism when dealing with me, my closing department and most especially my clients has been always exemplary.”
SENIOR LOAN OFFICER, SHAMROCK FINANCIAL SERVICES
“The Law Office of Attorney David R. Rocheford, Jr. is by far the most exceptional real estate law office that I have had the pleasure of working with. The professionalism is by far second to none.”
SENIOR LOAN OFFICER, SALEM FIVE MORTGAGE SERVICES
“Attorney David Rocheford has provided settlement and title services for me and Greenpark Mortgage several years. He has assisted all of my clients, including my family and friends with mortgage closings. Always providing excellent service. Reliable and trustworthy!”
Oct 8, 2018 | Consumer Tips
Gone are the days where parents sit at home while their costumed children run around the neighborhood alone. These days, most small children are walked door to door by family. While there is relatively little mischief they can get into under their parents’ watchful gaze, below are even more trick-or-treating safety tips for an untroubled, fun and haunted evening.
- Light Them Up – Put reflective tape on your children’s costumes and bags, so drivers can identify them easily. It’s dark out there!
- Plan A Route – Hit up familiar homes and don’t get too far from your house in case a small one gets tired or needs to go to the bathroom.
- Stay Out Of The Street – Keep kids on the sidewalk and be sure to look both ways before crossing the street.
- Take Stranger Danger Seriously – Don’t go into any dark, unfamiliar homes or get into cars with strangers.
- Hem Long Costumes – After purchasing a costume, make sure it’s at least three inches above the ground, so your little ghost won’t trip.
- Be Cautious Getting Ghoulish – Test makeup on a small portion of your child’s skin before putting it all over his or her face. Also, be sure to remove it before bedtime.
- Pack Away Pointy Toys – Make sure your children’s swords, knives and axes are short, flexible and made of foam.
- Wear Comfy Shoes – Avoid princess shoes with heals or anything that’s not flat and comfy for your tot. You don’t want them to trip in the dark.
- Watch Out For Flames – Keep flammable costumes away from luminarias or any open-topped glowing pumpkins.
- Pretend You’re At The Pool – Walk; don’t run.
- Put A Spotlight On Those Monsters – Carry a flashlight so that no one trips.
- Check Out The Treats – While this might seem paranoid, just quickly double-check the treats to make sure none have been tampered with or could pose a choking hazard.
Having your little witch in the emergency room instead of indulging in a late night sugar rush would put a damper on the entire holiday. So follow the 12 trick-or-treating safety tips above to help your child enjoy a hauntingly fun and safe Halloween.
Jan 8, 2014 | Consumer Tips
By Amy Tierce
In the pile of Beatles paraphernalia that our youngest son got for Christmas this year was a fascinating book describing the creation and recording of every single Beatles song. The book is about 700 pages!
We shared the book around the table and began to wonder how they knew how many 
‘takes’ to take with each recording.
Some songs took only one shot or “take” at recording and the song was DONE. The most number of takes we found was 117. Many recordings took multiple takes. Remember, these were the days of live recording, little editing capabilities, and the early development of ‘tracks’.
So how did the band know that they got it right with one take when they recorded “Hey Jude”, “Michelle” or “If I Needed Someone”? How did they know it was time to stop after 117 takes on “Sexy Sadie”? It took them 32 attempts to record “Octopuses Garden.” Did they feel that that last one was just right or did they just give up? What does perfection look like? Would take 13 on “Help” have been better – but they stopped at 12?
It made me think a lot about “takes” in and on the New Year. How many takes do we get, how often in life can we undo, rewind and re-do…. When are we satisfied with one take and ready to move on, when do you give up after 52 “Your Mother Should Know” or 70 “Happiness Is A Warm Gun”?
Thinking about how this applies to business, relationships, projects creative and otherwise, and life in general, here are my thoughts:
- Trust your gut and follow it
- If your gut is not speaking seek wise counsel for advice
- Then Trust your wise counsel
- know when you cannot make it better
- Know when to drop it all together
- BEST of all, know when you hit it on the first take and are ready to move on
We have multiple takes available to us, use them wisely or get stuck seeking perfection.
Happy New Year one and all!
Here’s to many “One Take” successes in 2014.
Amy Tierce
Regional Vice President
Fairway Independent Mortgage
(781) 719-4665
amyt@fairwaymc.com
www.fairwayindependentmc.com
Oct 11, 2013 | Consumer Tips
By Bill Nickerson
The current shutdown of the Federal Government has left many homebuyers and real estate industry partners with many questions about how the shutdown
will impact their ability to do business. Merrimack Mortgage will continue to operate at full capacity during the shutdown; however, the shutdown creates some challenges for lenders. We hope you find this piece informative and that you will share it with staff and colleagues, as well as potential homebuyers and sellers.
FHA LOANS
FHA Single Family Housing – Government Shutdown FAQs
Source: http://www.whitehouse.gov/
Q: How will this impact the housing market? A: Because we are able to endorse loans, we don’t expect the impact on the housing market to be significant, as long as the shutdown is brief. If the shutdown lasts and our commitment authority runs out, we do expect that potential homeowners will be impacted, as well as home sellers and the entire housing market. We could also see a decline in home sales during an extended shutdown period, reversing the trend toward a strengthening market that we’ve been experiencing.
Q: Will FHA have staff available to answer questions if there is a government shutdown? A: Limited FHA staff will be available to respond to questions, emails or other correspondence.
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May 2, 2012 | Consumer Tips
Last Friday, the Real Estate Bar Association of Massachusetts (REBA) filed an action in Suffolk Superior Court against a non-lawyer settlement service provider, National Loan Closers, Inc., and a number of Massachusetts lawyers who continue to perform “witness only” closings in violation of Real Estate Bar Ass’n for Massachusetts, Inc. v. National Real Estate Information Services, 459 Mass. 512, 946 N.E.2d 665 (2011). The filing followed a unanimous vote of the REBA’s Board of Directors.
“ ‘Witness only’ closings violate Massachusetts law prohibiting the unauthorized practice of law, place homebuyers and mortgage lenders at risk, erode the public’s confidence in the Commonwealth’s recording and registration system, and deprive the Massachusetts IOLTA Program of thousands of dollars of revenue,” said Chris Pitt, REBA’s President.
“Although most lenders, title companies, and title insurers now recognize that ‘witness only’ closings are not permitted in the Commonwealth, there are still some who persist,” said Tom Moriarty, Co-chair of the Committee on the Practice of Law by Non-Lawyers. “There is no justification for these unlawful practices to continue and title insurers, title companies and the attorneys who participate in ‘witness only’ closings should stop.”
