Tuesday, November 25, 2014 08:31pm
North Adams, MA now: 34 °   
Send news, tips, press releases and questions to info@iBerkshires.com
The Berkshires online guide to events, news and Berkshire County community information.
SIGN IN | REGISTER NOW   

Home About Archives RSS Feed
Real Estate and Attorneys
By Paul Harsch On: 04:31PM / Thursday March 20, 2014
Important
0
Interesting
2
Funny
0
Awesome
0
Infuriating
0
Ridiculous
0

Here in the Northeast, attorneys are an integral part of virtually every real estate transaction from the simplest to the more complex. In other regions of the nation, however, known as title states, attorneys are much less frequently involved in the normal residential transaction. Those are handled through the real estate licensees and title companies.

The primary reason we have attorneys engaged in the real estate transactions here in the Northeast is to handle the title searches, banking and the closing documents. Could title companies do those, yes, but it is not the present customary practice in the Northeast.

In the larger metropolitan areas like Boston, Hartford and New York City, real estate brokers most commonly prepare offers but then the process is turned over to the attorneys who draw up the purchase agreements. This is a widespread practice in much of New York State but none of these practices are required under the law, they have just evolved.

In Berkshire County and over the border in Vermont, most brokers still prepare the purchase and sales agreements using forms created by boards of realtors, although some of the newer younger agents appear to be leaning toward bringing lawyers into the transaction sooner.

A real estate transaction evolves out of negotiation and then transforms into a process of handling documents and this is where the attorneys spend the majority of their time, unless of course there is some controversy or problem that arises that is legal in nature in which case, by definition, the real estate licensee must step back and allow the lawyers to handle it.

Attorneys are by training advocates for their client, they are not negotiators per se but of course some lawyers will profess to be "deal makers and not deal breakers." Nevertheless, so much rides on the personality and style of the attorney or attorneys involved as to how things turn out, whereas with the real estate licensees, their training is to do all they can to put a deal together through give-and-take negotiation. I have seen significant terms in a previously negotiated agreement changed by an attorney for one side or the other that then kills the sale. It doesn't happen very often but it can.

Attorneys often step into a transaction very far into a listing and negotiation and as such they don't know the personalities of their client very well or the history of the listing process or negotiation and thus they may be tempted to make snap recommendations or assert a view or position that is out of sync with the entire process.

Of course, clients don't have to follow their attorney's advice when it comes to optional matters but they often do, thinking the attorney somehow knows best. Some attorneys will even act without the knowledge or consent of their client because they believe they know what is best. That may or may not be the case so consider carefully the style of the attorney you select and weigh your attorney's advice just as you should weigh the advice and input from everyone your hire whether it is the real estate agent, an inspector, bank lender, or contractor.

In brief, be a fully informed and engaged consumer of all professional services.

When is it the right time to hire your attorney? Whenever you feel the need for legal advice is the simple answer or whenever you don't understand any aspect of the transaction and particularly when it has legal implications. Keep in mind that every document you are asked to sign regarding a real estate transaction is potentially legally binding and as such you need to take full responsibility for fully comprehending the document or for seeking the advice of an attorney if you don't.

Safe is far better than sorry in matters as important as these.

Paul Harsch, president and founder of Harsch Associates, a Berkshire County based real estate brokerage firm, is a licensed real estate broker in Massachusetts, New York and Vermont, serving a diverse residential, business, commercial and land client base for 40 years.



0 Comments
     
News Headlines
Holiday Raffle to Benefit Berkshire County Arc, NAMI Berkshire County
Watch What You Eat to Avoid ER This Thanksgiving
'Breakfast With Santa' Set for Dec. 7
Williams PTO holding BJ's Fundraiser
MLK Jr. Day Committee Seeks Nominations for 2015 Peacemaker Award
Volunteer Matter of Balance Coaches Needed
Cultural Pittsfield This Week: Nov. 26-Dec. 4
2014 Bazaars & Craft Fairs
Pittsfield Installs 2014 Christmas Tree
Williamstown Looks into Signage to Boost Safety on Bee Hill Road

Paul Harsch, president and founder of Harsch Associates, a Berkshire County based real estate brokerage firm, is a licensed real estate broker in Massachusetts, New York and Vermont, serving a diverse residential, business, commercial and land client base for 40 years. He has achieved personal career sales exceeding $131 million and company sales from 1979 will top $500 million in 2014. Harsch is a member of the Berkshire, Massachusetts, Southwestern Vermont and National associations of realtors, is a licensed Massachusetts real estate instructor and earned the CRB, CRS, GRI and CBI designations. Harsch is a 1969 graduate of Williams College.

To submit comments, questions or requests for future blog topics write him at paul@harschrealestate.com.



Categories:
Adams Real Estate (0)
Adams Real Estate (0)
buying (9)
buying a home in the berkshires (1)
home buyer (0)
home buyer (0)
home buyer (0)
home owner (5)
homes for sale in the berkshires (0)
Lenox Real Estate (0)
Monterey Real Estate (0)
Monterey Real Estate (0)
Otis Real Estate (0)
Pittsfield Real Estate (0)
real estate (10)
second home (1)
selling (9)
Stockbridge real estate (0)
The Berkshires (0)
williamstown real estate (0)
Archives:
August 2014 (2)
July 2014 (3)
June 2014 (1)
May 2014 (2)
April 2014 (3)
March 2014 (3)
February 2014 (3)
Tags:
Interest Rates Investment Million-dollar Sales Real Estate For Sale Williamstown Berkshires Properties Home For Sale In The Berkshires Narh Legal Opinions Medical Attorney Engineering Berkshire County Real Estate Home Inspection Trends Building Inspector Home & Garden
Popular Entries:
High End Sales, Williamstown and Berkshire County
Facilitator, Transaction Broker Agent or Unrepresented?
What If: Engineer a New Use for North Adams Hospital
Investors Taking Advantage of the Real Estate Market
Real Estate Inspections
The Best Small Town in America
Real Estate Perspective 2013-2014
The Froth Is Off
What Do Buyers Want?
Real Estate and Attorneys
Recent Entries:
Come Home to the Berkshires | Berkshire County, Mass.
For Sale By Owner: Homes for sale in the Berkshires
The Best Small Town in America
The Froth Is Off
Do You Want to List Your property or Sell it?
The Home-Buying Process in 12 Easy (?) Steps
Selling or Buying Real Estate Is Just Like Buying a Loaf of Bread
Who Will Be Showing Your House or Property?
Who's Your Real Estate Agent?
What If: Engineer a New Use for North Adams Hospital


View All
Wahconah Football Reaches...
Salvatore grabbed the ball out of the air and sprinted 95...
Proud Pittsfield Fights to...
Pittsfield’s run in the postseason came to end on Westfield...
McCann Football's Run Ends in...
The McCann Tech Hornets road to Gillette Stadium and a...
Berkshire Chamber Showcase...
The Berkshire Chamber of Commerce held its Business 2...
Berkshire Grown Holiday...
Berkshire Grown held its Holiday Market in Williamstown on...
Wizards at Hoosac Valley
The Harlem Wizards faced off against Hoosac Valley staff...
St. Mary's Church Tour in...
Residents, business people, elected officials and Friends...
Williamstown's Mather House...
Traffic came to halt for several hours Wednesday morning as...
Girls Soccer: Nipmuc vs...
Although the Wahconah girls' season ended on Tuesday, its...
Boys Soccer: Belchertown vs...
Belchertown Downs Mount Greylock Boys in PKs
Football: Pittsfield vs...
Shade himself ended up taking it in from the 1 on third and...
Football: Turners Falls vs...
After completing the first-ever undefeated regular season...
Festival of Trees 2014
The Berkshire Museum kicked off its Festival of Trees...
Farmers' & Artisans' Harvest...
organic and handcrafted goods were sold at the special...
Football: Agawam vs Wahconah
The Wahconah football team was down eight points heading...
Girls Soccer: Granby vs...
Wahconah girls soccer over Granby, 1-0, for WMass Div. III...
Wahconah Football Reaches...
Salvatore grabbed the ball out of the air and sprinted 95...
Proud Pittsfield Fights to...
Pittsfield’s run in the postseason came to end on Westfield...
McCann Football's Run Ends in...
The McCann Tech Hornets road to Gillette Stadium and a...
Berkshire Chamber Showcase...
The Berkshire Chamber of Commerce held its Business 2...
Berkshire Grown Holiday...
Berkshire Grown held its Holiday Market in Williamstown on...
| Home | A & E | Business | Community News | Dining | Real Estate | Schools | Sports & Outdoors | Berkshires Weather | Weddings
Advertise | Recommend This Page | Help Contact Us | Privacy Policy| User Agreement
iBerkshires.com is owned and operated by: Boxcar Media 102 Main Street, North Adams, MA 01247 -- T. 413-663-3384 F.413-664-4251
© 2000 Boxcar Media LLC - All rights reserved