Additional  Information: What are some of the benefits of converting to condos?  My brother and I inherited a duplex in Watertown and we’re considering converting them to condos.  We may or may not move into the respective units and wondering if the benefits outweigh the expense.  ATTORNEY ANSWER: It depends upon the real estate market in your area –  in some places conversion into condos is a good economic move and in others it is

Additional Information: I currently live in an apartment in Cambridge.  The apartment is in my grandmother’s 4 unit building where I pay rent. If she wanted to convert the units to condos, what are the steps she would need to take? Can she convert one at a time or is it best to convert all 4 at once? ATTORNEY ANSWER: You cannot convert a building into condominiums without converting all apartments.  The first step in

Additional Information: My business partner and I are about to buy a commercial office building in Roslindale and I’d like to use a friend who is a real estate closing attorney.  Are there really that many differences between a commercial real estate deal and buying a house? ATTORNEY ANSWER: Yes there are differences –  If the attorney in question, no matter how much of a friend,  is not generally familiar with commercial transactions, I would

Additional Information: I am about to sign a P & S for commercial property in the South End.  What are some of the common pitfalls involving a commercial real estate deal? ATTORNEY ANSWER: First thing I suggest is the buyer find out if there are existing tenants in the building, if so are they subject to lease agreements and for how long and of course what is the rent being collected.  A review of all

Additional Information: I sold my Watertown restaurant for $25k (building not included) and have a signed sales agreement showing the purchaser agreed to pay $1000 per month. So far, the purchaser has only paid $800 and refuses to pay anymore. They are not doing well with the business and are saying I misrepresented what the restaurant was worth.  It kills me to see the restaurant not doing well, when it was thriving when my family

Additional Information: I am about to purchase a restaurant in Jamaica Plain from real estate brokers and they are proposing to be the agents for the restaurant sale transaction.  They’ve presented the restaurant’s operating expenses and income and positive cash flow.  Should I bring in my own attorney to help me purchase this restaurant? ATTORNEY ANSWER: I would strongly recommend hiring an attorney to assist you.  For starters you want to have someone review the

Additional Information: I’m about to open a restaurant and will do some renovations before opening.  In a standard restaurant lease, what is a typical permit contingency clause?   If I’m unable to get permits to do the necessary renovations, what kind of notice would I need to give in order to get out of the lease?   I am working with a well regarded Boston restaurant architect and he has great ideas, just not sure the permits

Additional Information: I am hopefully going to open my first restaurant in the Greater Boston area and have just reviewed the lease. Who typically covers liability insurance? The restaurant owner or the landlord, or both?  If a customer falls and injures him/herself, and I don’t have my own liability insurance, wouldn’t I be at risk if the restaurant got sued for personal injury? ATTORNEY ANSWER: The landlord typically insures the commercial property for loss due

Additional Information: My husband and I have already signed a contract to sell our condo in Newton.  However, we have since changed our minds and no longer want to sell. What can we do to get out of selling our home? ATTORNEY ANSWER: Having signed a valid contract, your options may be limited.  The sooner you approach a buyer or buyers the better.  Some sellers approach a prospective buyer with the truth, offer to reimburse

Additional Information: I own a three family home in Brookline, Massachusetts and I want to record a declaration of homestead. I live in one of the units and rent out the other two. Can I do that? Will the declaration of homestead be effective? Does it matter that I live in the home? ATTORNEY ANSWER: As an owner occupant you may file a declaration of homestead, which will provide protection from creditors.  The declaration of

Additional Information: There was a fire in a neighbor’s condo unit and there was resulting water damage to my unit.  I received an estimate from the Association’s Insurance company and am not satisfied with the estimate since it does not provide adequate compensation to cover expenses for necessary repairs.  What should I do to get better settlements? ATTORNEY ANSWER: First review the condominium documents and the insurance policy.  If possible, you may need to make

Additional Information: Our Boston condo association has recently filed papers to foreclose on a condo in our building for unpaid condo fees. The unit is owned by an LLC and the tenants are asking for a new key to be made because they lost it. As an association can we deny this request? What services do we have to offer if they are not paying their fees? ATTORNEY ANSWER: I would advise any condominium association

Additional Information: Can a lawyer help me valuate the business or would I need to seek out a business consultant for that?  Also, isn’t it pretty standard for the purchase agreement to contain language that allows an “out” for the buyer if the lease agreement isn’t satisfactory? Isn’t my application for liquor license contingent upon having a lease? ATTORNEY ANSWER: Generally an attorney is not the person to determine the value of a business.  An

Additional Information: My HOA is fining residents, but there is no statutory authority to do so. Condos are authorized to levy reasonable fines, but HOAs are not subject to GL 183a.  Is there any case law here? My understanding is that HOAs are fining their residents all over Massachusetts. ATTORNEY ANSWER: If the Condominium Association has by-laws and or rules and regulations which provide for fines in the event of a violation, I believe they

Additional Information: Can a home owners association legally shut the water off to one of it’s members for non payment of its dues for a shared well? One member owes back fees of over a thousand dollars for their part of a shared well, can the water use be legally shut off to them for non payment by the association? ATTORNEY ANSWER: No, this is called “self-help” and is not allowed.  If the Association or

Additional Information: The seller is unable to find a replacement property by the time the sixty day escrow closes. They have requested an extension of thirty days. If we do not agree to that extension, will we lose the appraisal fee, the home inspection fee, and our deposit? ATTORNEY ANSWER: Most Purchase and Sale contracts oblige the seller to close unless for some reason such as a tenant in the premises or a title issue. 

Additional Information: The contract has been signed by both parties. What are my rights, and do I have to keep my home? ATTORNEY ANSWER: If you signed the typical Massachusetts Purchase and Sale Agreement your remedy is to keep the deposit. Most contracts specify that the loss of the deposit is Sellers sole and exclusive remedy.  If such language is not contained in the Purchase and Sale Agreement you may be able to not only

ATTORNEY ANSWER: You may not be able to cancel depending upon the contract language.  If you changed your mind the day after signing it might be wise to reach out to seller with an honest appeal – you might get out of the deal without losing very much. If you walk away on the eve of closing you will likely lose your deposit. Depending upon what contingencies are in the P&S Agreement you may have