Realtors

Don’t Touch That Deposit: Court Rules Escrow Duty Trumps Real Estate Commission Dispute

by Rich Vetstein 09.16.2010 Massachusetts Real Estate Law
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Agents: Don’t Mess With A Buyer’s Deposit Yesterday an interesting case came down involving a nasty tug-of-war between listing brokers and an exclusive buyer’s agent, with the buyer’s six figure deposit caught in the middle. The case is Zang v. NRT New England and can be read here. In the case, the seller signed the [...]

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Why The Bachelor & Bachelorette Need A Real Estate Agent

by Rich Vetstein 08.04.2010 Disclosures
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A Special Guest Post By Gabrielle Daniels Brennan, Coldwell Banker Residential Brokerage, Sudbury, MA. Check out her Blog, Living in Sudbury www.liveinsudburyma.com! Similar to the obsession over Massachusetts real estate and addiction to the Multiple Listing Service (MLS) is our addiction to The Bachelor / The Bachelorette TV series. Many of us really didn’t want [...]

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Fannie Mae Advisory: Pending Condominium Litigation Can Derail Your Condo Financing

by Rich Vetstein 07.21.2010 Condominium Law
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If the condominium project that you are buying into is involved in any pending litigation over construction or its common areas, chances are you will not be able to obtain a conventional loan under newer, strict Fannie Mae condominium lending guidelines. This is not good for condominium buyers, lenders, unit owners desiring to sell and [...]

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Federal Flood Insurance Program Lapse Has Closings Floating In Limbo

by Rich Vetstein 06.28.2010 Insurance
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Update: Congress Restores Funding to Flood Insurance Program Through Sept. 30! I recently had a closing on a property in a flood zone almost fall apart because, unknown to everyone, Congress decided to let the federal flood insurance program run out of money. After doing some research, I was dismayed to learn that since the [...]

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McMansions Out Of Favor: New Homes Reportedly Getting Smaller

by Rich Vetstein 06.14.2010 Massachusetts Property Values
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The Wall Street Journal Blog has a very interesting article on the recent demise of McMansions: America’s love affair with McMansions continues to wane:  The size of new single-family homes completed last year fell 3.2% to 2,438 square feet, according to the National Association of Home Builders trade group, which analyzed Census data. It’s the [...]

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Real Estate Fear Factor: Dealing With Stigmatized Property

by Rich Vetstein 06.08.2010 Appraisals
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The well maintained 4 bedroom Colonial in a North Shore suburb with a great backyard looked nice enough thought “Debbie,” the buyer. However, she was dismayed to learn from neighbors after closing on the property, that the prior owner had committed suicide in the house. The real estate agent never advised her of this, and [...]

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Pre-Closing Walk-Through Tips & Strategies

by Rich Vetstein 05.12.2010 Closings
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My Boston.com colleague, buyer’s agent Rona Fischman, has a great post today on walk-throughs, or pre-closing inspections. I’ve re-posted it here, along with my commentary (in italics) and my own tips. The walk through is the last thing that the buyer does before closing. The buyers, plus the real estate agents, walk through the empty [...]

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Early Impact Of First Time Home Buyer Tax Credit Appears Strong

by Rich Vetstein 05.02.2010 Massachusetts Property Values
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The deadline for getting under contract for the First Time Home Buyer Tax Credit was last Friday, and some preliminary statistics are already coming out demonstrating how popular the program was. The Boston Herald reports that almost 30,000 Massachusetts buyers have taken advantage of the credit already, and that doesn’t include the most recent weeks [...]

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Make Mortgage Contingency Dates Workable & Don’t Wait Until Last Minute For Extensions

by Rich Vetstein 04.17.2010 Massachusetts Real Estate Law
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This week, a very interesting decision involving the negotiation of a residential purchase and sale agreement came down from the Massachusetts Appeals Court in Coviello v. Richardson. Click here to view the decision. The case highlights the need for realtors and real estate attorneys to be proactive with respect to mortgage contingencies and requests for [...]

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Recent Flooding Impacts Spring Sales Season And Raises Thorny Disclosure And Inspection Issues

by Rich Vetstein 04.09.2010 Home Improvement
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While folks here in Massachusetts are finally drying out from the Big Flood of 2010, it’s clear that it has negatively impacted the spring real estate market, and will have repercussions for years ahead for buyers and sellers of affected properties. Impact On The Market As recently reported in the Boston Globe, realtors around the [...]

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TitleHub Has Arrived: Stay Informed And Stay Connected To Your Real Estate Transaction

by Rich Vetstein 03.28.2010 Blogging
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After months in the making, I am very pleased to announce the roll-out of TitleHub Closing Services, LLC, a cutting-edge closing settlement service that uniquely provides a full platform of legal and technology-based services. TitleHub’s mission is to transform the convoluted real estate closing process into an easy, customer-focused and technologically enhanced experience. In collaboration [...]

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A Real Estate Attorney’s Guide To Choosing A Massachusetts Real Estate Broker

by Rich Vetstein 03.16.2010 Massachusetts Real Estate Law
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As a real estate attorney, it should come as no surprise that people often ask me to recommend a real estate broker. I often give out several names, but I also give out this Guide To Choosing A Realtor, to help them focus on all the issues and ask the right questions. Guide To Choosing [...]

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Update: Jury Sides With Realtor Over Second-Hand Smoking Disclosure Case

by Rich Vetstein 02.17.2010 Condominium Law
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In the recent and well publicized case of the disgruntled condominium buyer suing her realtor over the disclosure of second-hand smoke, the jury today sided with the realtor. The Boston Globe reports today that the jury took less than an hour to deliberate whether a realtor was liable for allegedly not disclosing to a condominium [...]

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Massachusetts Lead Paint Law Advisory: Family Unfriendly Policies Can Get Landlords Into Big Trouble

by Rich Vetstein 02.16.2010 Condominium Law
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Breaking News (8/10/10): Two Local Real Estate Firms Fined By Mass. Attorney General For Lead Paint Housing Discrimination My Boston.com fellow blogger, buyer’s agent Rona Fischman, has fielded several questions recently regarding the Massachusetts Lead Paint Law. Prospective renters have called apartment listings only to be hung up on abruptly with a “It’s not deleaded!” [...]

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Lawsuit Against Realtor Over Second Hand Smoke Disclosure Raises A Stink

by Rich Vetstein 02.10.2010 Condominium Law
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Yesterday the Boston Globe reported on a controversial lawsuit by Alyssa Burrage, a condominium buyer, against a realtor over the disclosure of second hand smoke emitting from downstairs neighbors. Click for the story: Suit Over Second Hand Smoke Targets Real Estate Broker. As the hundreds of comments to the story indicates, this lawsuit raises a [...]

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Green Energy Trends: Geothermal Technology Becoming More Popular In Massachusetts

by Rich Vetstein 01.03.2010 Green Technology
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I’m pleased to welcome guest blogger, Leslie Mann, a Realtor with Hallmark Sotheby’s International Realty who specializes in the Dover-Sherborn area of Massachusetts. Leslie is here to talk about geothermal technology, which is growing in popularity in Massachusetts. Geothermal technology is a great way to heat and cool your home. It costs far less to [...]

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Massachusetts Real Estate Law Year In Review: Top Posts Of 2009 And Predictions For 2010

by Rich Vetstein 12.28.2009 Closings
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In the spirit of the New Year, let’s look back at the top legal issues of the past year and peer into the crystal ball for a glimpse at 2010. Top 5 Posts For 2009 #1.  The Catch-22 Impact of New Fannie Mae Condominium Regulations. In January, Fannie Mae was the first government agency to [...]

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New FHA Condominium Guidelines: Financially Sound Projects = Better Investments

by Rich Vetstein 12.09.2009 Condominium Law
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I’m getting pretty tired of all the condominium developers and realtors out there claiming and clamoring that the new FHA condominium guidelines which went into effect this week are the next coming of the Apocalypse. The fact remains that the new guidelines will ensure that condominiums are financially sound and well-run, and that’s good news [...]

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Google Real Estate? Yup, Real Estate Listings Now On Google Maps

by Rich Vetstein 11.02.2009 Massachusetts Real Estate Law

In its never ending quest for world dominance, Google is now putting real estate listings on its popular Google Maps platform. I have to say that it’s pretty cool. Just go to Google Maps and type in a city/town or street address. On the “More” pull down menu on the right side, there is a [...]

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There’s Nothing “Standard” About The Massachusetts Standard Form Real Estate Purchase And Sale Agreement

by Rich Vetstein 08.21.2009 Condominium Law
Standard Form Massachusetts Real Estate Purchase Sale Agreement

Anything But “Standard” Home buyers sign a never ending pile of legal documents to purchase a home. But arguably the most important document in the entire transaction is the Massachusetts purchase and sale agreement. The purchase and sale agreement is signed after the Offer to Purchase is executed, and spells out the parties’ responsibilities during [...]

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