General Area in Boston>Question Details

Kempland, Other/Just Looking in Boston, MA

I am looking to purchase a parking spot in back bay for $XXXX.00 (I would rather not say how much). Who is legally allowed to sell me a spot?

Asked by Kempland, Boston, MA Sun Jul 15, 2012

Does one have to be a licensed real estate agent to do so? Is a broker required?

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Answers

7
Anyone who owns a parking space can sell it to you.
You do not need a broker in this transaction; however, a broker is highly recommended, as they will find the space for you and guide trough the whole process.
buying a deeded parking space is the same as buying a condo. Please make sure that you do have a good counsel on your side.
Best of luck
0 votes Thank Flag Link Mon Dec 10, 2012
You do not have to have a real estate agent to purchase the parking spot. If the seller has an agent then, yes, I highly suggest you get your own buyer's agent. If you do not hire an agent make sure you get an attorney at some point to confirm the spot can be legally sold.

http://territory.com/
0 votes Thank Flag Link Tue Jul 17, 2012
If this individual has a parking spot they can sell it to you but if you prefer to go with a real estate agent you can do that too.
0 votes Thank Flag Link Mon Jul 16, 2012
It is my understanding that the streets belong to the city and parking is allowed at the discretion of the city. If the streets need to be cleaned, plowed, repaired etc, they need to be in control of the area involved. If spots were individually owned it would impair this activity. If you are looking at a parking spot that is deeded to a specific property an attorney would have to determine if the spot can be separated out and sold. I just went through this process on a property in Boston, and the spot was not able to be separated from the real estate.
0 votes Thank Flag Link Sun Jul 15, 2012
Parking is a real estate property, so the same rules apply to selling it as it is to selling a condo. A legal owner has the right to sell it and a real estate agent to assist with marketing, negotiation, paperwork and the rest of the transaction process.
0 votes Thank Flag Link Sun Jul 15, 2012
Hello - There is no legal requirement for licensed professional to make any purchase. A real estate professional, though, will help you find an appropriate space and represent you interests in the transaction.

Anyone with a deeded parking space can sell you one, as long as there are no restrictions by the owner's condo association. This must be checked thoroughly before you give a deposit.

I recommend you hire an agent for this. Furthermore, you may need to add another X to your price.

Ruth
0 votes Thank Flag Link Sun Jul 15, 2012
Thanks Ruth for your answer. You may have answered this, but just so that I am explicitly sure - does an agent have to be present to facilitate the transaction between the purchaser of the spot and the owner?
Flag Sun Jul 15, 2012
You need to start reading the answers to the same question you asked last week.
http://www.trulia.com/voices/General_Area/What_is_involved_i…
0 votes Thank Flag Link Sun Jul 15, 2012
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