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by ME&W | Mar 26, 2019 | Goldsmith, James L, Industry News, Real Estate & Land Use
PART TWO By: James L. Goldsmith, Esq. Who, if anyone, should attend home inspections has been a topic of debate for as long as home inspections have been a standard element in a residential transaction. Year ago when the topic came up at an NAR meeting of attorneys who represented state associations of Realtors, the room was divided, with roughly 50% saying that buyers should attend, but not their agents. I remember one outspoken... by ME&W | Mar 26, 2019 | Goldsmith, James L, Industry News, Real Estate & Land Use
PART ONE By: James L. Goldsmith, Esq. It happens. Sellers agree to make repairs suggested by a home inspection, but fail to complete the job timely. When this happens a buyer is faced, unfairly, with proceeding under a contingent plan (e.g., having repairs made post-settlement or taking cash in lieu of repair) or of delaying settlement. Usually there is little choice. The buyer is packed and ready to move or the mortgage commitment can’t... by ME&W | Mar 26, 2019 | Agricultural Law, Finck, Ronald L, Industry News, Real Estate & Land Use
By: Ronald L. Finck, Esq. It is not uncommon in the farm community for real estate to be owned jointly by two or more owners. Many times, parents will transfer their real estate to more than one child as part of their estate and farm succession plan. Joint ownership of real estate often presents unique problems for the joint owners. A co-ownership agreement should be considered to set forth how the joint owners will use... by ME&W | Feb 26, 2019 | Goldsmith, James L, Industry News, Real Estate & Land Use
By: James L. Goldsmith, Esq. These two words are the start of many questions by those who draft contracts, including agreements for the sale of real estate. Consider Paragraph 18 of the PAR standard agreement entitled Maintenance and Risk of Loss. This paragraph was borne of the following “what ifs?” What if the HVAC system or other systems fail after signing but before settlement? What if the seller is unwilling to repair within the sale... by ME&W | Jan 23, 2019 | Industry News
It can be a familiar prohibition in condominium complexes and rental properties: NO PETS ALLOWED. Does that include an emotional support animal? The federal Fair Housing Act enlarges the definition of assistance animal to include “emotional support animals,” which it considers to be a reasonable accommodation. An emotional support animal is a type of assistance animal for a person with a disability under the Fair Housing Act. An emotional support animal is not a pet,... by ME&W | Jan 23, 2019 | Industry News
Real Estate Purchase Deposits To state that the typical deposit is too low an amount and that it is paid later than should be is not an overstatement. The purchase deposit, which is referred to as “initial deposit” in the Agreement of Sale, is paid within five days of execution. Why a deposit? It is not a legal requirement of a binding contract. Don’t confuse a deposit with “consideration,” which is essential in the formation... « Older Entries