Real Estate

Providing seller, buyer and lender representation in residential and commercial real estate transactions throughout Connecticut and Massachusetts, including contract drafting and negotiation, loan document preparation and review, title and lien searches, settlement agent and closing services, title insurance and escrow.


Is a broker needed?
Although a broker is not required in the residential real estate transaction, it is common for at least one party in the transaction to be represented by a broker. It is also common in residential transactions for the buyer’s agent to bring a signed (proposed) contract with deposit to the seller for review and acceptance. Therefore, whether you are a buyer or the seller, both parties would be well advised to have their attorney prepare and/or review the sales contract before it is signed.
What is a “Multiple Listing Service”?
A multiple listing service is an arrangement by which the brokers in a particular area agree to share their exclusive listing agreements with each other and split the commission. The use of the ‘MLS’ as it is known, has greatly increased the number of properties sold and is a primary reason given for using a broker.
What is title insurance and is it necessary?
At a minimum, the buyer’s lender will require a mortgagee’s title insurance policy insuring the loan amount. However, such a policy will not protect the buyer’s equity in the property. Therefore buyers are encouraged to also obtain an ‘Owner’s Policy’, which can be purchased for an additional premium. Such a policy will remain effective for as long as the buyer owns the property. The exact amount of this additional premium depends upon the purchase price and/or FMV of the property.
What does buying property “AS IS” mean?
Many contracts will have such language, but unless inspection contingencies are specifically waived in the contract, such ‘as is’ (caveat emptor) language merely represents to the buyer that the seller will not be making concessions or repairs if requested by the buyer after inspections are completed. It is always wise to conduct inspections and to allow enough time to do so in the contract. Most post-closing lawsuits result from buyers relying solely on a seller’s and/or broker’s representations.
What is a Hubbard Clause in a contract?
A Hubbard Clause is a contingency in a purchase and sale agreement that expressly conditions a Buyer’s purchase of a property upon the Buyer’s ability to sell and close on another piece of real estate (usually their existing home).


What is a “Phase 1” environmental site assessment and do I need one?

Phase 1 Environmental Site Assessment, or Phase 1 ESA, is a report ordered in real estate transactions to provide disclosure on possible or existing environmental contaminants on a property site or its surroundings.

The vast majority of lenders require environmental due diligence before approving commercial loans. Even if a “recognized environmental condition” (REC), “historical recognized environmental condition” (HREC), or “controlled recognized environmental condition” (CREC) is identified by the Phase I ESA, you can still close the deal and avoid federal clean-up liability through a legal defense known as the “bona fide prospective purchaser.” But without completing a Phase I ESA prior to closing on the property, you effectively forfeit this and all other “innocent landowner” legal defenses against a recognized environmental condition liability. All property buyers who wish to avoid liability for environmental contaminants already existing on or near the property in question, are required to conduct a Phase 1 Environmental Site Assessment to be eligible for CERCLA liability protection

What is seller financing?
Such an alternative to traditional financing is a useful option where a buyer cannot obtain a loan. It is a viable option if the conditions and parties are suitable for such an arrangement. However it is extremely important for both sides to obtain legal representation to properly draft the contract and seller financing documents so that both parties are clear on the terms of the deal and financing as well as default provisions.

Lawyer in Cheshire CT

(203) 272-2565

402 Highland Avenue
Cheshire, Connecticut 06410