Massachusetts Real Estate Contract: Different Types and Key Terms to Include

Quick Facts — Real Estate Contract Lawyers

What is a Massachusetts Real Estate Contract?

A Massachusetts real estate contract is a legally binding contract executed between a buyer and a seller for the purchase and sale of real property. A real estate contract will include important terms like the purchase price, closing date, and contingencies that must be met before the sale can be completed.

Real estate contracts are typically drafted by a real estate attorney, however; real estate contract templates are available for use by realtors and parties selling property privately. The contract becomes binding once both parties have signed it.

Common Massachusetts Real Estate Contracts

The three most commonly used real estate contracts in Massachusetts are:

  • Greater Boston Real Estate Board contract
  • Massachusetts Association of Realtors contract
  • Real Estate Bar Association Contract

Each of these approved contract templates are used by realtors who belong to the different associations. These forms include all provisions and conditions that are required for real estate contracts in Massachusetts and create a streamlined process for buying and selling property.

4 Essential Elements of a Massachusetts Real Estate Contract

Real estate contracts in Massachusetts are governed by Massachusetts contract law. Every real estate contract must include the following four essential elements:

  1. Voluntary agreement between parties
  2. Legally competent parties
  3. Offer, acceptance, and consideration
  4. Legal purpose

If a contract is missing any of these elements, it may be deemed invalid and unenforceable.

Is Massachusetts a Buyer Beware State for Real Estate?

Massachusetts is considered a "caveat emptor" state, which means "buyer beware." This means that buyers are responsible for thoroughly inspecting a property and any potential issues before purchasing it.

Sellers are not required to disclose any known defects or problems with the property unless they are asked directly. It's important for buyers to thoroughly research and inspect a property before making an offer.

Frequently Asked Questions

How do I hire a lawyer to draft a real estate contract in Massachusetts?

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Keidi C.

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Keidi S. Carrington brings a wealth of legal knowledge and business experience in the financial services area with a particular focus on investment management. She is a former securities examiner at the United States Securities & Exchange Commission (SEC) and Associate Counsel at State Street Bank & Trust and has consulted for various investment houses and private investment entities. Her work has included developing a mutual fund that invested in equity securities of listed real estate investment trusts (REITs) and other listed real estate companies; establishing private equity and hedge funds that help clients raise capital by preparing offering materials, negotiating with prospective investors, preparing partnership and LLC operating agreements and advising on and documenting management arrangements; advising on the establishment of Initial Coin Offerings (ICOs/Token Offerings) and counseling SEC registered and state investment advisers regarding organizational structure and compliance. Ms. Carrington is a graduate of Johns Hopkins University with a B.A. in International Relations. She earned her Juris Doctorate from New England Law | Boston and her LL.M. in Banking and Financial Law from Boston University School of Law. She is admitted to practice in Massachusetts and New York. Currently, her practice focuses on assisting investors, start-ups, small and mid-size businesses with their legal needs in the areas of corporate and securities law.

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Ralph graduated from University of Florida with his JD as well as an LLM in Comparative Law. He has a Master's in Law from Warsaw University , Poland (summa cum laude) and holds a diploma in English and European Law from Cambridge Board of Continuous Education. Ralph concentrates on business entity formation, both for profit and non profit and was trained in legal drafting. In his practice he primarily assists small to medium sized startups and writes tailor made contracts as he runs one of Florida disability non profits at the same time. T l Licensed. in Florida Massachusetts and Washington DC this attorney speaks Polish.

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Liz is an experienced insurance professional, having worked with carriers and brokers for over 10 years. She can review or draft a variety of commercial agreements and is here to help your business. Specialties include: Master Service Agreements, business process outsourcing, marketing and partnership agreements, broker agreements, business associate agreements, and NDAs.

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Before attending law school, I had a prior career in business performance reporting. This experience differentiates me from other attorneys. I can readily read, interpret, and synthesize financial reporting. I also have a passion for legal research and writing.

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what is better to buy land or rent for construction in US?

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T. Phillip B.

Answered Apr 5, 2022

I suppose it doesn't matter if you have the lease giving you permission and the lease is long enough to justify the building expense when you won't own it. But I'd buy the land so you could eventually sell the property with the building on it.

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Asked on Mar 24, 2022

How many years does a quick claim become effective?s

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Answered Mar 29, 2022

A quit claim deed is effective upon execution so long as the deed is dated as of the date of signature. Execution means that the deed is signed, in front of a witness and a notary. The witness and notary must also sign the deed. Finally, the deed must be recorded. This means that the deed must be submitted to the Superior Court recording office of the County in which the property sits. Please let me know if you have any questions. Thanks, Meghan K Thomas

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