First Home Purchase? Why You Need An Attorney

Buying a home can be complicated. You finally pick a real estate agent you like, s/he takes you around, shows you the ropes and the astronomical prices people seem to be paying, and despite all of this, you find what you think is a good deal, write a check for the deposit and sign on the dotted line…

WAIT! Just like with any other major life decision, before you act - YOU NEED TO DO YOUR HOMEWORK.

As a resident of the Commonwealth, you have many community based opportunities to educate yourself on the subject. For classes and mortgage information offered to first-time home buyers, visit: By clicking the preceding link to get you to the Housing and Economic webpage, you can locate scheduling information for these events and sign up to be prepared to buy your first home.

Additionally, schedule a meeting with your bank or a local mortgage company that you trust to find out where you fall on the credit spectrum. It may be easier to save some money to put down for the deposit and work on your credit, and by planning ahead, you are doing yourself a favor by logically and strategically making the best moves to achieve your goals.

Buying a home for the first time is tough, but knowledge is power! And once you’ve done the prep work, found your real estate agent and picked your spot, consider the hard stuff almost over.

As your lawyer, that’s where we come in: we do the homework after you’ve made the choice. We work with your lender, the seller’s agent and any other parties to the contract to smoothly process your transaction. After you have signed an “offer to purchase,” we draft and negotiate the purchase and sale agreement, draft your Deed, prepare your HUD settlement statement for closing, and attend the closing on your behalf if you’d like.

If you start by following the simple steps provided above, you will realize that it is empowering to have information at your fingertips - the not knowing is what tends to make the process tedious. At the end of the day, with our help, in the very near future you will be able to kick back on your couch and enjoy the long-term benefits of being a homeowner!

We’re Buying/Selling a Home! What now?

Looking to sell your home or put down roots in a new location? The Greater Boston Area includes the counties of Norfolk, Plymouth, Suffolk, Middlesex and Essex, covering areas as far North Shore as Ipswich, and as far south as New Bedford. Due to recent market conditions, selling or purchasing homes or condominiums in the Greater Boston area can be a difficult process. If you are selling property, the market is booming, and many property owners are able to pick and choose to secure their “best offer.” If you are purchasing property, being quick to act and even faster to close can sometimes be the best way to ensure your new zipcode. For more local news on the housing market phenomenon, check out the Globe’s article here.

Here at the Law Office of Jeffrey M. Frankel, we work with you and your realtor to draft your purchase and sale agreement. Attorney Frankel has worked on real estate transactions and related matters in Massachusetts for the past 15 years. With his experience as a skilled real estate attorney, he is well-equipped to help you identify and solve problems that may inevitably arise in the purchase or sale of your Massachusetts property.

Our office deals with a number of transactions, including but not limited to:

-Homeowners selling their single family residence, multi-family residence or condominium

-Buyers purchasing a single family residence, multi-family residence or condominium

If you are looking for an exceptional Quincy/Greater Boston Area real estate attorney who possesses Massachusetts real estate law know-how in addition to having more than a decade of experience in the field, look no further. For more information, please contact us at (617) 302-4321 to ask us our rates!

What is a Chapter 13 Bankruptcy?

The first question our clients often ask us is ”What exactly is a Chapter 13 bankruptcy versus a Chapter 7 bankruptcy?”

Whether you know it or not, filing a Chapter 13 Voluntary Bankruptcy Petition could be a very efficient way to keep your property and pay off creditors in either a three or five year period under a court-ordered debt repayment plan - that is, IF you qualify.

In order to file a Chapter 13 petition, you must be an individual or married filing jointly, and:

1. You have filed all of your income tax returns to date or are able to complete them prior to filing;
2. You have sufficient income to pay your monthly expenses as well as the Payment Plan ordered by the court;
3. You are able to pay an amount that repays all required debts, and, if you have disposable income, you are also able to repay a certain amount of money (based on a percentage) to unsecured creditors;
4. You have not filed a previous bankruptcy/received a bankruptcy discharge in the last several years (depending on the case and the special circumstances unique to every individual case);
5. You have not been dismissed from a bankruptcy within 180 days of filing; and
6. You don’t owe too much.

If the above does not apply to you but you think that you may be a candidate for a Chapter 7 bankruptcy (that does not require a payment plan, but allows the debtor to discharge some debts in exchange for sale of non-exempt property of the estate), give us a call.

We’ll provide you with a free consultation to discuss your situation, and help you decide whether this solution is the right one for you.