Investor · Clinton, MA · Member since 2016 · 1 post · 1 vote
I own a 12-unit multi-family property in (downtown) Leominster, MA and due to a change in job circumstances I may need to sell it. I want to explore an off market deal - what are resources I can research that are specific to MA laws in terms of how to execute a deal like this?
Lender · Tyngsboro, MA · Member since 2009 · 3k+ posts · 2k+ votes
9y
Carlos, I recently sold a multi myself without listing on MLS. I have a large network due to my Black Diamond group, but there are lots of groups you can explore where you might attend and promote your deal. Some of them have online options. In addition, I posted it here on BP under marketplace. You need a paid membership to do so. I have listed some of them below. As far as laws go, most of the emphasis is on disclosure. You may find a MA real estate agent here on BP who will forward you the disclosure form (my deal was in NH so I don't have one) that you can fill out and provide to potential sellers.
Most experienced buyers will provide you a written offer, and draft the P&S. If you get a new buyer, you can simply have a MA attorney provide you with one, but it's possible you won't need an attorney if the buyer makes you a written offer. You don't have the same risks that a buyer has, so the process is relatively simple. The closing attorney that the buyer selects can draft the deed for you, normally $150-ish.
NWCLA (Northern Worcester County Landlords Assn @Brian Lucier runs it
Masslandlords.net
NewEnglandREIA
BlackDiamondREI has a Worcester meeting next Tuesday
I'm sure if I've missed anything important someone will jump in and correct me
Lowell, MA · Member since 2014 · 335 posts · 52 votes
9y
Hi Carlos,
I am interested in your 12-Unit multi-family in Leominster MA. I bought off market recently. I would like to get more information about the building: bedroom per unit, price you are looking to sell, .. etc.