Are you ready to sign a Purchase & Sale agreement but unsure what it really commits you to in Massachusetts? You are not alone. In Wellesley, the P&S is the moment a deal becomes truly binding, which means the details matter. In this guide, you will learn how the P&S works, which contingencies protect you, what is unique about buying in Wellesley, and how to plan your timeline and costs with confidence. Let’s dive in.
What the Massachusetts P&S means
Once you and the seller sign the Purchase & Sale agreement and the deposit is handled as stated in the contract, you are in a binding agreement. The P&S sets your price, dates, contingencies, and default remedies. Because it is enforceable, you should only sign after you understand the terms and confirm your key protections are in place.
Why attorney review matters
In Massachusetts, it is common for each side to have an attorney. Your attorney will negotiate language, confirm deposit handling, and align dates that match your financing and inspection needs. Attorneys often hold deposit funds in trust accounts and coordinate title work and closing documents. This attorney-led process is different from states where title companies run the closing.
Timeline at a glance
Most deals close about 30 to 60 days after the P&S, though timing is negotiable. Inspection and financing periods are shorter and must be tracked carefully. When you shorten or waive a contingency, you take on more risk if a problem surfaces later. Build a calendar with your attorney and lender on day one so you do not miss a deadline.
Key contingencies to protect you
Financing contingency
A financing contingency protects you if your lender does not issue a formal mortgage commitment on time. Your P&S should set the loan type and a date to secure that commitment. You are expected to apply in good faith and respond to your lender’s requests. If you waive this contingency or compress the timeline, you increase the risk that you could lose your deposit if financing is delayed or denied.
Inspection contingency
An inspection contingency gives you time to evaluate the property and negotiate repairs or credits, or to walk away within the agreed window. In Wellesley, common inspections include general home, radon, pest, chimney, and HVAC. For homes built before 1978, federal rules require the seller to provide a lead paint disclosure, and you can review the EPA’s guidance on real estate disclosure for lead-based paint hazards.
Title and survey review
Your attorney will order a title search to look for liens, easements, and other encumbrances. If a title defect appears, the P&S should say whether the seller must cure it and what happens if they cannot. If property lines, fences, or encroachments are unclear, a survey can prevent boundary surprises later.
Title insurance
If you are financing, your lender will require a lender’s title policy. You should also consider an owner’s title policy to protect your equity against covered title defects. Talk with your attorney about coverage options and cost so you can decide early.
Septic, wells, and Title 5
If the property is not on town sewer, Title 5 rules apply. Review Massachusetts Title 5 septic system requirements and confirm any inspection results and required repairs before you sign. If there is a private well, water quality testing is advisable. Your P&S can include septic and well contingencies if needed.
Condo and HOA documents
If you are buying a condo or a home with an association, request and review budgets, reserves, rules, meeting minutes, special assessment history, and any pending litigation. Your P&S can provide time to review and the right to cancel if materials are not satisfactory.
Wellesley-specific considerations
Sewer vs. septic and local approvals
Most Wellesley homes are on town sewer, but some properties may rely on septic systems or have health department requirements. Confirm the home’s sewer or septic status early and review any Board of Health documentation. For local procedures, forms, and contacts, start with the Town of Wellesley website.
Historic districts and exterior changes
Parts of Wellesley include historic or design review areas. Exterior work in those zones can require approvals and may limit certain changes. If you plan to modify the facade, windows, or add an addition, confirm whether the property lies in a historic district and what approvals would be needed.
Conservation, wetlands, and setbacks
Many lots border wetlands or sit within conservation jurisdiction. Renovations, additions, pools, and site changes may require Conservation Commission permits and must respect buffer zones. Zoning rules, including setbacks and lot coverage, also shape what you can build. Your attorney and inspector can flag recorded restrictions, and you can verify details with the Planning, Building, and Conservation offices listed on the Town of Wellesley website.
Shared driveways and easements
Older homes may share driveways or private roads. Ask for any recorded easements or maintenance agreements. Your P&S can require disclosure and delivery of those documents so you know who maintains what, and how costs are shared.
Oil tanks and environmental history
If the home has oil heat or was previously served by oil, ask about underground or abandoned tanks. An oil tank scan and environmental review can save significant cost and risk. Work with your inspector and attorney to set the right scope within your inspection window.
Schools and commuting
School assignment policies and boundaries can influence your plans. Confirm current school assignments directly with the school district before relying on an assumption. For commuting, Wellesley has multiple MBTA stops on the Framingham/Worcester Line. You can review the MBTA Worcester Line schedule and consider proximity to Route 9, I‑95/128, and the Mass Pike.
Property taxes and assessments
Ask the seller for recent tax bills and confirm parcel-specific data with the Assessors Office. Local overrides and community projects can affect future tax levels. For offices and contacts, visit the Town of Wellesley website.
Closing logistics and buyer costs
Title search, insurance, and recording
Your attorney orders the title search and prepares closing documents. Deeds are recorded at the Norfolk County Registry of Deeds. Recording creates the public record of your ownership. You will typically purchase a lender’s title policy if financing and can opt for an owner’s title policy for added protection.
Buyer closing costs to plan for
- Attorney fees for buyer’s counsel
- Lender charges such as origination, underwriting, and appraisal
- Title search fees and title insurance premiums
- Recording fees and registry charges
- Prepaid items such as homeowners insurance and interest
- Escrows for taxes and insurance if required by your lender
- Prorated property taxes and utility adjustments
Transfer, recording, and excise fees vary by property and location. Confirm the latest requirements with your attorney, the Norfolk County Registry of Deeds, and relevant resources on Mass.gov’s Registry of Deeds pages.
Before you sign: buyer checklist
- Meet with a local real estate attorney to review the draft P&S and negotiate key terms.
- Confirm sewer vs. septic. If septic, review Title 5 inspection results and any required repairs.
- Request utility history, property tax bills, and any HOA or private road agreements.
- If pre‑1978, obtain the lead paint disclosure and decide if you will test. See EPA lead disclosure guidance.
- If financing, confirm your preapproval and timeline for a mortgage commitment.
- Clarify who holds the deposit, how it is safeguarded, and when it is refundable.
- Decide on an owner’s title insurance policy and budget for closing costs.
- Ask your attorney to flag any wetlands, historic, or zoning restrictions that could affect your plans.
After you sign: what to expect
- Book inspections immediately to stay within the contingency window. Include radon, chimney, pest, and oil tank review as appropriate. Add septic and well testing if applicable.
- Coordinate with your attorney on deposit delivery, title work, and document requests.
- Work with your lender on appraisal, conditions, and the mortgage commitment deadline.
- Secure a homeowners insurance binder early so there is no last‑minute delay.
- Verify proration of taxes and utilities and review the draft settlement statement.
- Conduct a thorough final walk‑through to confirm agreed repairs and inclusions.
Common pitfalls to avoid
- Waiving or shortening the inspection so much that you miss serious defects.
- Failing to confirm septic status or Title 5 compliance before committing.
- Overlooking wetlands, historic district, or zoning limits that affect renovations.
- Skipping condo or HOA document review and missing special assessments.
- Ignoring oil tank history or potential environmental issues.
- Assuming property taxes will remain constant without checking current town information.
- Waiving key contingencies in a competitive market without a clear risk plan.
Work with a construction‑informed advisor
The P&S is where details translate into dollars and risk. You deserve an advocate who understands how contract terms, inspections, and local approvals intersect with your renovation or design plans. With deep construction background and a boutique, high‑touch approach, Jennifer Fish helps you frame the right contingencies, spot Wellesley‑specific risks early, and keep your closing on track. Book an Appointment to align your search, deal terms, and due diligence with your goals.
FAQs
Do I need an attorney for a Massachusetts home purchase?
- Attorney involvement is standard in Massachusetts because the P&S is binding and closings are attorney‑led; most buyers hire counsel to review and negotiate terms.
How long does closing usually take after the P&S?
- Many transactions close in about 30 to 60 days, depending on financing, title work, and contingency timing, but your dates are negotiable and set in the P&S.
Who holds my deposit and how is it protected?
- The P&S specifies who holds it, often an attorney in a trust account; confirm the escrow holder and the exact refund or forfeiture conditions in your contract.
What inspections are most common for Wellesley homes?
- General home, radon, chimney, HVAC, pest, and oil tank assessments are common; add well water tests and a Title 5 septic inspection if the home is not on town sewer.
How do wetlands or historic rules affect my plans?
- Properties near wetlands or in historic areas may need permits or reviews for exterior work; verify with the Conservation, Planning, and Building departments on the Town of Wellesley website.
Where is my deed recorded after closing?
- Deeds for Wellesley properties are recorded at the Norfolk County Registry of Deeds, which creates the public record of your ownership.
