The Closing Timeline
Offer
Purchase & Sale Agreement
Mortgage Contingency
Buyer Representation
What Our Clients Say About Us:
Marc and the entire team at Canner Law are the best in the business! We’ve worked with them twice over the last 6 years and have been very pleased. They are efficient, organized, detail-oriented, knowledgeable, courteous and super helpful. We knew we didn’t have to worry about this piece of the process and that was a huge relief!
- Dina Smith
We have worked with Marc and his team on three separate real estate transactions over the last few years and cannot recommend them more highly. This team is very personable, knowledgeable, and efficient.It's obvious that they love what they do and you'll feel that in their great work ethic and communications. If you are looking for a group of people that can carry you through your real estate transactions easily while still ensuring you cross your t's and dot your i's this is the team for you!
- Madison Wetter
The Canner Law team is nothing short of outstanding. The entire group is beyond responsive, thoughtful, professional, and genuinely just nice to work with. We recently worked with their team throughout the home buying process. As first time home buyers, we didn't quite know what to expect. The Canner team made the process an absolute breeze! We cannot recommend working with this team enough.
- Courteney McDonnell
Our Blog
Are Assumable Mortgages the Way Out Of The Housing Mess?
Are assumable loans an effective tool to combat the "lock in" effect that has throttled the housing market in the current high interest rate environment? As background, an assumable mortgage in theory can create inventory because it can allow a Seller to transfer a lower interest rate loan to a Buyer when a home is sold. In addition to adding value to an existing home, more assumable mortgages would create much needed inventory to jumpstart the housing market. While most commercial mortgages are assumable, only a sliver …
We are a member of the ARAG and MetLife Legal Plans
Several large employers in Massachusetts make available legal benefits programs that provide a broad range of services including real estate closings. We are a network attorney for two of the larger legal plans – ARAG and MetLife. These two providers cover all or a portion of our legal fees, which makes for a nice benefit during the home buying or selling process! Here are a few of our ARAG reviews that clients have posted: 10 / 10 –Reviewed …
Chat GPT Uses In Residential Real Estate
Since launching last November, the artificial intelligence bot “Chat GPT” has many industries just beginning to gauge the scope of its use. Chat GPT is a language model that can generate realistic, human-like text. It also can generate text responses on any subject when prompted, making it useful as a chatbot for customer service. Rather than research how Chat GPT is used in real estate, I went right to the source (as it is intended). I ran the following query and received an extremely detailed, …
MA AG Sues “Predatory” Florida Realty Company Engaged in "Deceptive" Trade Practices
Boston25 News recently aired an investigative piece which brought to light a Florida real estate agency's use of predatory tactics to target low-income and elderly homeowners in Massachusetts and around the country. The agency, MV Realty, deceived hundreds of homeowners in Massachusetts to unwittingly sign over mortgage liens that could cost these homeowners several thousand dollars. Marc was interviewed for the on air story. The media exposure has led to the Massachusetts Attorney General filing a lawsuit against MV Realty for “unconscionable” business dealings and “deceptive acts …
Rental Property LLC FAQs
FAQ: Can My Rental Property Be Held In A Limited Liability Company (“LLC”)? A single entity LLC provides numerous advantages for rental property owners, including reducing personal liability and allowing more costs to be tax deductible. Many rental property books and podcasts recommend that Buyers take advantage by purchasing their rental property in an LLC. Can Rental property Buyers purchase in an LLC? If paying cash for the property, then the answer is a clear “yes.” If financing the …
How to Protect a Buyer When the Mortgage Contingency and Inspection Contingency Clauses are Waived
by Laura Cross Low inventory, multiples bids, waived contingencies, properties going for well over ask. This seems to be the new normal in our current market. A Buyer is naturally thrilled when a Seller accepts their offer in this competitive marketplace. Once the initial rush starts to subside, a Buyer can become nervous that they have waived their protections and assume the risk of losing their deposit if they back out of the transaction. Here are …
Mortgage Contingency FAQs
When financing a purchase transaction, the mortgage contingency date is the single most important pre-closing event after the Purchase and Sale Agreement (P&S) is signed. The mortgage contingency date typically occurrs three to four weeks afer the P&S execution. The lender needs to issue a "clean" mortgage commitment letter on or before the mortgage contingency date, or the buyer's attorney likely will seek an extension. What Is The Purpose Of A Mortgage Commitment? When financing a loan, a lender undertakes a …
Will Condominium Lending Be Upended in 2022?
On January 1st, 2022, Fannie Mae rolled out a new Condominium Questionnaire (“CQ”) Addendum. This added layer that applies to condominium buildings with five or more Units requires in certain instances more detailed answers to CQs about deferred maintenance, the building’s structural soundness, and special assessments. This change has the potential to upend condominium lending. Many industry insiders believe the update is a result of the condominium collapse in Florida last year. Fannie Mae is now requiring in some circumstances broad certifications about the Association’s financial, legal …
A Guide To Navigating A New Construction Purchase
Buying a new home or condominium Unit can be a challenging process. Buying a new home or condominium Unit that is not yet built and only exists on paper is even more daunting. Below are some helpful tips to navigate a new construction purchase. Research the Builder To a certain degree, a Buyer is going into business with the builder. The Builder will determine the design and workmanship of the new property. The Builder also controls the timeline of the process. …
The Massachusetts Real Estate Law Blog RSS Feed:
- Tenant Rental Assistance Eviction Protection (Chapter 257) Re-enacted By Legislature and Gov. Healey
published: 09/08/23
- Housing Court To Speed Up Eviction Cases and Shift To More In-Person Events
published: 04/03/23
- Boston Rent Control Bill Will Wreak Havoc In City’s Housing Market
published: 03/09/23
- Worcester Area Couple Evicted For 14th Time, Leaving Trail of Unpaid Judgments and Moving Bills For Local Property Owners
published: 02/02/23
- Rent Control: Coming To A Boston Rental Property Near You?
published: 01/19/23
- SJC Gives Country Club A Mulligan From $5 Million Jury Award In Errant Golf Ball Case
published: 01/17/23
- Double Dipping By Cummings Properties Not Allowed In Commercial Lease Dispute
published: 12/07/22
- Evictions Remain A “Lose-Lose” For Massachusetts Landlords: A Case Study
published: 06/02/22
- Boston Eviction Moratorium Will End On February 28, 2022, Appeals Court Single Justice Rules, But Questions Remain
published: 02/15/22
- Joint Housing Committee To Hear Controversial Housing Stability Act, Rent Control, And Other Tenant Protection Bills On Jan. 11
published: 01/06/22
- Specific Performance, Lis Pendens, and The Special Motion to Dismiss: Enforcing and Defending Real Estate Contract Claims
published: 12/28/21
- Judge Rebuffs Mayor Wu’s Attempt to Resurrect Boston Covid-19 Eviction Moratorium
published: 12/23/21