If you are buying or selling a home in Massachusetts, you may wonder whether you need to be represented by a lawyer. If you are buying, you may think that your interests will be protected by the attorney for the lender that is giving you a mortgage. If you are selling, you may feel that the process is simpler for you than for the buyer.

The fact is that both buyers and sellers can benefit greatly from good legal representation. Issues can arise as early as the time of the home inspection, and advice from an attorney can help in negotiations regarding work to be done or a reduction in the purchase price. In addition, although the parties sign what is commonly referred to as a "Standard Form Purchase and Sale Agreement," (P&S) changes are routinely made and provisions are frequently added to this pre-printed form; such as:

• specify that the buyer is accepting the property in its current condition and/or standards for any work to be done;
• disclose condominium fees and assessments; and
• set out the specific terms of a tenancy in rental property and provide for transfer of any security deposit or last month's rent.

After the P&S is signed, the Buyer's lawyer should make sure that the Buyer does not risk losing the deposit (usually 10% of the purchase price), for example, by missing the deadline for getting a mortgage commitment or giving proper notice if you don't. Before closing, the Seller's attorney will preparethe deed, and other documents that may be required to deliver good title to the Buyer.

The attorney for the bank or mortgage company does not get involved until the time of closing, long after the P&S is signed. At closing, there are numerous financial adjustments between the Buyer and the Seller and between the Buyer and the lender. If there are any discrepancies in these numbers, or if there is a dispute between the parties (for example, regarding the condition of the property at the time of closing), having your own attorney can help resolve the issue and mav also save you money.