Condominium Law

It’s All A Write Off! Tax Deductions For Massachusetts Real Estate Sellers and Buyers

by Rich Vetstein 03.30.2013 Closings

One of my favorite Seinfeld episodes is the one where Kramer tries to explain to Jerry how tax write-offs work. “It’s all a write-off!” exclaims Kramer who, not surprisingly, had no idea what he was talking about. I’ve embedded the Youtube video below. With the April 15 tax deadline quickly approaching, let’s talk about some [...]

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Strategies to Succeed In A Seller’s Real Estate Market: A Roundtable Discussion

by Rich Vetstein 03.11.2013 Closings

Put Your Best Offer Forward & Get Pre-Approved Beforehand, Advise Local Experts Well, it’s official now. With buyers back in droves, an abnormally low inventory of good properties, and bidding wars popping up all over the place, the Greater Boston real estate market has now made full circle into a seller’s market. As the Boston [...]

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New Boston Rental Property Registration And Inspection Ordinance FAQ

by Rich Vetstein 02.18.2013 Condominium Law

The Boston City Council and Mayor Menino’s Office have passed a sweeping new rental property registration and inspection ordinance which is now effective for the year 2013. The new ordinance requires, among other things, that all rental property owners register with the Inspectional Services Department (ISD), and are subject to inspections every 5 years. Details [...]

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Emails May Come Back To Haunt Agents — Realtor Magazine Feature Article

by Rich Vetstein 01.21.2013 Condominium Law

I wanted to share a recent article I authored for Realtor Magazine which was published in their January/February 2013 edition. The article is based on the Massachusetts court opinion in Feldberg v. Coxall, which I wrote about previously in this post. The court ruled that under recently passed electronic signature laws, emails between agents or [...]

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New Massachusetts Domestic Violence Law Allows Victims To Break Leases, Have Locks Changed

by Rich Vetstein 01.12.2013 Condominium Law

Under the new Massachusetts Domestic Violence Act recently signed into law, victims of sexual assault and stalking have the right to break their leases without significant financial penalty, have the landlord change their locks, and other important protections. The important provisions of the new law are as follows: In order to break a lease, victims [...]

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Fiscal Cliff Bill Saves Home Mortgage Interest Tax Deduction and PMI Tax Deduction

by Rich Vetstein 01.02.2013 Condominium Law

Boon for Massachusetts Homeowners More good news for Massachusetts homeowners coming out of Congress’ late night passing of the Fiscal Cliff Bill. The mortgage interest tax deduction — which was reportedly on the Congressional chopping block — was untouched by Congress, leaving it in place. This is huge for the middle class, and especially for [...]

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Lowell Mill Condominium Developer Hit With $300,000 Plus Judgment In Construction Defect Case

by Rich Vetstein 12.14.2012 Condominium Law

Case Law Report:  Wyman v. Ayer Properties, LLC (Massachusetts Appeals Court, December 12, 2012). Condo Construction Defect Claims Now Easier To Bring In an important opinion which will make it easier for condominium associations to seek redress for faulty or defective construction, the Appeals Court has entered a $300,000 plus judgment against a Lowell based real [...]

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Cleaning Up After Hurricane Sandy: Homeowner’s Insurance Coverage & Downed Trees

by Rich Vetstein 10.30.2012 Condominium Law

Massachusetts Homeowner’s Insurance Coverage for Hurricane Damage Although Massachusetts was spared a direct hit by Hurricane Sandy, there are widespread reports of flooding and property damage. Whether the damage to your home from Hurricane Sandy is covered by your homeowner’s insurance policy depends on the source of the damage. Typically, damage caused by wind, downed [...]

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FHA Softens Condominium Lending Guidelines, But Barriers Remain

by Rich Vetstein 09.13.2012 Condominium Law

Condo Sales May Get Slight Boost, But Financing Rules Remain Tight Responding to lender, condominium association and consumer outcry that the existing FHA condominium lending guidelines are too strict, the Federal Home Administration (FHA) on September 13, 2012 announced a round of changes which will hopefully make it easier for borrowers to qualify for FHA [...]

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Worcester Catholic Church Pulled Out of Mansion Sale To Prevent Gay Marriages, Lawsuit Says

by Rich Vetstein 09.10.2012 Condominium Law

Worcester Diocese Allegedly Pulled Out of Deal Over Possibility Of Gay Marriages at Mansion James Fairbanks and Alain Beret, married business partners from Sutton, had been searching for the perfect property for nearly two years when they discovered Oakhurst, an aging mansion on 26 beautiful acres in Northbridge. The former retreat center, which was affiliated [...]

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Get Ya Mitts Off My Dish, Mistah Mayah! Boston Mayor Cracks Down On Unsightly Satellite Dishes

by Rich Vetstein 06.02.2012 Condominium Law

Mayor Menino Targets Eyesore Satellite Dishes Consistent with his reputation as the “urban mechanic,” Mayor Thomas M. Menino, along with the City Council, want to pass a new ordinance to clean satellite dish clutter on residential properties in Boston. As reported by the Boston Globe, the proposal would require the removal of all obsolete satellite [...]

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Move It Or Lose It! Freddie Mac and Fannie Mae Tell Banks To Speed Up Short Sale Decisions

by Rich Vetstein 04.18.2012 Condominium Law

Lenders Given 30 Days For Short Sale Decisions Well, someone in government has been listening to the chorus of complaints about lenders taking too long to make short sale decisions. In a *rare* move of federal government housing competence, the Federal Housing Finance Agency has instructed Fannie Mae and Freddie Mac to impose new guidelines [...]

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Bidding Wars Are Back In Greater Boston! Legal And Strategic Guidance For Massachusetts Buyers & Sellers

by Rich Vetstein 03.24.2012 Condominium Law

I cannot believe I’m writing this post, but yes it’s true, the real estate market in Greater Boston, Massachusetts has now come full circle and bidding wars are back. Don’t believe me? Just read this Boston Globe article from today. Now that bidding wars are back, buyers and sellers have questions, so we’ll try to [...]

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Cash Is Just As Good As Money: Massachusetts Cash Real Estate Purchase Advisory

by Rich Vetstein 03.21.2012 Closings

Tips For Massachusetts Real Estate Cash Buyers & Sellers As Yogi Berra once humorously said, “cash is just as good as money.” This is especially true in real estate transactions where a cash buyer is often perceived as better and less risky than a mortgage financed buyer. (Please note that we often encourage buyers to [...]

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Condominium Bait and Switch Scheme Nets First Time Buyers Big Recovery

by Rich Vetstein 02.14.2012 Closings
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Six Year Litigation Odyssey Ends With $872,000 Payout After six years of litigation over a deceptive bait-and-switch condominium purchase scheme, a Cambridge couple has forced the listing broker in the deal to pay them $872,000 in compensation. The case is Oleg Batishchev v. Brenda Cote and others (click to download). The case started in 2005, [...]

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From Asbestos to Radon: The Massachusetts Home Inspection Process, A Legal Perspective

by Rich Vetstein 01.13.2012 Condominium Law
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The home inspection is one of the most critical aspects of every Massachusetts real estate transaction. Virtually every buyer in a standard purchase transaction (meaning not a short sale, foreclosure, or bank-owned property) will opt to perform a home inspection, and for good reason. You need to know whether there are any serious structural, mechanical [...]

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Massachusetts Real Estate Litigation: What You Can Expect Going To Trial, Part 2

by Rich Vetstein 12.20.2011 Adverse Possession

Part 2 of a two part series. For part 1 on filing the Complaint, Venue and Discovery click here. Expert Testimony We left off in our last post at the discovery state of litigation. We covered fact discovery of witnesses, but we didn’t address an important component of most real estate litigation cases: experts. Expert [...]

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Massachusetts Real Estate Litigation: What You Can Expect Going To Court, Part 1

by Rich Vetstein 12.17.2011 Condominium Law
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For most folks, litigation and courtrooms are as foreign as Belgium. When a new clients comes to me with a potential litigation matter, I spend most of our first consultation discussing the process of litigation and how it works. Then inevitably we have to talk about the cost and expense, which for most lawsuits is [...]

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Doggy Doo-Doo Bags, Flippin’ the Bird, and Grumbling Signs: Complaining About Condominium Management Is A Constitutional Right, Court Holds

by Rich Vetstein 11.03.2011 Condominium Law
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Old Colony Village Condominium v. Preu, Massachusetts Appeals Court No. 10-P-875 (Oct. 31, 2011). Click here for link to full text of case. I love when constitutional law intersects with real estate law. It’s rare, and full of drama. A recent decision by the Appeals Court considered a condominium unit owner’s unalienable right to complain, [...]

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