Razor 2 to Razor 3 MVC 5

In your Web.config(-s) make sure assemblyBinding contains the proper version for the assembly System.Web.WebPages.Razor and System.Web.Mvc.

<assemblyBinding xmlns="urn:schemas-microsoft-com:asm.v1">
  <dependentAssembly>
        <assemblyIdentity name="System.Web.WebPages.Razor" publicKeyToken="31bf3856ad364e35" />
        <bindingRedirect oldVersion="1.0.0.0-3.0.0.0" newVersion="3.0.0.0"/>
  </dependentAssembly>

  <dependentAssembly>
    <assemblyIdentity name="System.Web.Mvc" publicKeyToken="31bf3856ad364e35" />
    <bindingRedirect oldVersion="1.0.0.0-5.0.0.0" newVersion="5.0.0.0" />
  </dependentAssembly>
</assemblyBinding>

And make sure that razor sectionGroup in ConfigSections reference latest versions as well:

<sectionGroup name="system.web.webPages.razor" type="System.Web.WebPages.Razor.Configuration.RazorWebSectionGroup, System.Web.WebPages.Razor, Version=3.0.0.0, Culture=neutral, PublicKeyToken=31bf3856ad364e35">
    <section name="host" type="System.Web.WebPages.Razor.Configuration.HostSection, System.Web.WebPages.Razor, Version=3.0.0.0, Culture=neutral, PublicKeyToken=31bf3856ad364e35" requirePermission="false" />
    <section name="pages" type="System.Web.WebPages.Razor.Configuration.RazorPagesSection, System.Web.WebPages.Razor, Version=3.0.0.0, Culture=neutral, PublicKeyToken=31bf3856ad364e35" requirePermission="false" />
</sectionGroup>