Smacking down tens of thousands of hard-earned dollars for a tiny piece of Boston real estate brings some people to rethink their finances. Once buyers realize how much it actually costs to purchase a home...yes, there are actually closing costs...they begin attempting to save money where ever possible. I would like to drive home the point that there are some things you should absolutely NOT skimp on. The most important is a great Boston real estate attorney. You are making what is most likely the largest purchase of your life (or at least it is pretty high on the list). A real estate attorney is there to protect you and your purchase. Wouldn't you pay $1500 to protect the 5 percent desposit you plopped down at Purchase & Sale? I would and I did. As a seasoned agent, I have seen plenty of purchase and sale agreements. I also have seen great real estate attorneys save my clients' backside when times got tough. Think of it as insurance.
One other point...if you do not know a great attorney, ask your Accredited Buyer's Representative. Don't use the attorney your bank uses for their closing "because it is free". Believe me, nothing is free. You can always ask that your mortgage company use YOUR attorney so you won't incur a double charge, but not vice-versa. The bank's closing attorney represents the bank, not you. Your attorney can do the paperwork for the bank, but represent you. Protect your investment...unless, of course, you can afford to kiss it goodbye.