How do I make sure all my documents and titles are in order? What if there is a deed issue at closing?
On the residential side, we have developed expertise in all aspects of residential conveyance, including negotiation of Purchase and Sale Agreements (both for existing housing and new construction), examination of titles and issuance of title insurance policies, attendance at closing and review of all documents in order to insure a smooth transaction. Additionally, our Real Estate Division is approved by virtually every lender in Southeastern Massachusetts, the Cape and Islands to conduct real estate closings on their behalf.
On the commercial side, our team conducts commercial real estate transactions, including Sale Agreement negotiation, permit acquisition (including appearances before all city and town boards), and representing borrowers and buyers at closing. We represent all types of commercial real estate clients, including developers, local banks and national banking institutions.
In addition to providing clients with sound real estate advice, the Real Estate and Business Department advises clients on corporate matters including business formations, contracts, transfers, zoning, business acquisitions, business litigation and foreclosures, selection of an appropriate type of corporate structure and asset protection, whether it relates to real estate or non-real estate assets. We have been involved in numerous non-real estate transactions involving companies as small as $10,000 and as large as $10,000,000.
You can rely on our Real Estate team to ensure your closing processes and real estate concerns are handled efficiently and professionally.
Commercial Real Estate
What does commercial real estate involve?
The commercial real estate area includes all matters dealing with non-residential real estate, including the sale, lease or financing of commercial real estate.
Does it include zoning and permitting?
Yes, it includes determining and obtaining all necessary permits to allow the operation and/or construction of a commercial business.
How can someone secure financing to start a commercial business?
Wynn & Wynn can assist you with all aspects of financing, including revolving Lines of Credit for operating capital. We work with all area lenders and are aware of all governmental programs such as SBA 7A Guaranty loans and SBA 504 programs.
Residential Real Estate
I’m buying a house and have applied for a mortgage. The Lender’s lawyer will be handling the closing. Do I need to hire my own attorney?
In general, it can be a good idea. The Lender’s attorney, while providing some services that also benefit the buyer, represents the bank, not you.
In Massachusetts, one of the laws governing the closing process requires that the lender’s attorney certify to the buyers as well as the lender that the title to the property is good record title. He conducts a closing where he must ensure that all documents conveying the property and establishing the lender’s mortgage are properly executed and notarized, and that the lender’s fees and other closing costs are collected and paid. There are various state and federal laws which regulate the closing process and the attorney must make sure that the closing complies with these laws and regulations. A buyer is therefore provided a measure of protection by the lender’s counsel.
On the other hand, the closing attorney is representing the lender, not the buyer. As the buyer, you also have the option to hire an attorney to attend the closing and to protect your interests. Most buyers do not choose to incur this additional cost. If there is any dispute or disagreement between the buyer, seller or financing institution, it is recommended that the buyer secure legal counsel. He should not rely on the lender’s counsel to protect his interests.