Buying Your First Home: A Legal Checklist

Buying your first home in Massachusetts: the legal side no one explains

Buying a home is one of the largest financial commitments most people ever make, yet the legal mechanics behind a purchase are rarely explained in plain language. The standard purchase-and-sale forms used in Massachusetts are written to keep deals moving — not necessarily to protect you, the buyer. Understanding the process before you sign can save you thousands of dollars and a great deal of stress.

1. Get the purchase-and-sale agreement reviewed before you sign

The offer to purchase and the later purchase-and-sale (P&S) agreement set every important deadline in your transaction: inspection dates, mortgage contingency dates, and the closing date. Once you sign, those terms are binding. Have an attorney review the P&S so that repair obligations, deposit terms, and contingencies are written in your favor rather than left vague. Small changes in wording here can determine whether you keep your deposit if the deal falls through.

2. Understand your contingencies

Contingencies are the conditions that let you walk away without losing your deposit. The two most important are usually the home inspection contingency and the mortgage financing contingency. Make sure the dates are realistic, and never waive a contingency just to make your offer more competitive without fully understanding the risk you are taking on.

3. Order a title examination

A title examination confirms that the seller actually owns the property and that there are no liens, unpaid taxes, easements, or ownership disputes attached to it. If a problem surfaces after closing and you did not secure owner's title insurance, you could be personally responsible for resolving it. Title review and title insurance are inexpensive compared to the cost of a hidden claim.

4. Know what your closing costs include

Closing costs typically include lender fees, recording fees, prepaid taxes and insurance, and attorney fees. Ask for a written estimate early so there are no surprises on closing day, and compare the final closing disclosure line by line against your original loan estimate.

5. Review everything at the closing table

Closing is where ownership formally transfers. Read the deed, the settlement statement, and your loan documents carefully — or have your attorney read them with you. Confirm that names, the legal description of the property, and the loan terms match exactly what you agreed to. Careful review here protects you for years to come.

This article is general information about Koolom's real estate practice and is not legal advice. For guidance on your specific purchase, speak with a licensed Massachusetts attorney.