01/13/2025
๐ข ๐๐ณ ๐๐ผ๐ ๐๐ฎ๐๐ฐ๐ต ๐๐ต๐ฒ ๐ป๐ฒ๐๐ ๐ผ๐ฟ ๐ฒ๐๐ฒ๐ป ๐๐ฐ๐ฟ๐ผ๐น๐น ๐๐ผ๐ฐ๐ถ๐ฎ๐น ๐บ๐ฒ๐ฑ๐ถ๐ฎ, ๐๐ผ๐ ๐น๐ถ๐ธ๐ฒ๐น๐ ๐ธ๐ป๐ผ๐ ๐๐ต๐ฎ๐ ๐ฎ๐ฌ๐ฎ๐ฐ ๐๐๐ฟ๐ป๐ฒ๐ฑ ๐น๐ผ๐ฐ๐ฎ๐น ๐ฟ๐ฒ๐ฎ๐น ๐ฒ๐๐๐ฎ๐๐ฒ ๐ผ๐ป ๐ถ๐๐ ๐ต๐ฒ๐ฎ๐ฑ ๐๐ถ๐๐ต ๐๐จ๐๐ ๐ฟ๐ฒ๐ด๐๐น๐ฎ๐๐ผ๐ฟ๐ ๐ฐ๐ต๐ฎ๐ป๐ด๐ฒ๐. ๐๐ผ ๐๐ผ๐ ๐๐ป๐ฑ๐ฒ๐ฟ๐๐๐ฎ๐ป๐ฑ ๐ต๐ผ๐ ๐๐ฒ๐ฟ๐ถ๐ผ๐๐๐น๐ ๐๐ต๐ฒ๐๐ฒ ๐ฟ๐ฒ๐ณ๐ผ๐ฟ๐บ๐ ๐ฎ๐ณ๐ณ๐ฒ๐ฐ๐ ๐๐ผ๐ ๐ถ๐ณ ๐๐ผ๐ ๐ฎ๐ฟ๐ฒ ๐ฐ๐ผ๐ป๐๐ถ๐ฑ๐ฒ๐ฟ๐ถ๐ป๐ด ๐ฏ๐๐๐ถ๐ป๐ด, ๐๐ฒ๐น๐น๐ถ๐ป๐ด, ๐ผ๐ฟ ๐ฟ๐ฒ๐ป๐๐ถ๐ป๐ด?
1๏ธโฃ. The $418 million dollar "Nar Settlement", in response to Anti-Trust litigation, completely changed the face of long accepted Realtor commission structures. It has entirely transformed payment terms, responsibilities, and negotiation allowances. Buyers are paying their agents now!! However, there are ways to reduce or even eliminate the cost. Ask me about it.
2๏ธโฃ. Amendments to New York Real Property Law Chapter 50, Article 14 opened up Sellers to post-closing Buyer lawsuits that we've rarely seen before. A major change to The Act has mostly eliminated the property condition disclosure waiver (ever sell a property and vaguely remember crediting the buyer $500 for "PCDS" to skip filling out a long form about your property's condition history?). Well, you can no longer sever liability like that, and it can open the door to litigation with buyers long after the Deed's been signed. I can explain more.
3๏ธโฃ. The Fairness in Apartment Rental Expenses Act. The Act passed in December 2024 and goes into effect this June. The FARE Act requires that the party hiring an agent pay the agent's fees, therefore prohibiting landlords from hiring someone and then having tenants pay that agent at lease signing. Gone are the days of "one month's rent, one month's security, one month's broker's fee." Everything is different now, and I know it's a lot to take in.
โ ๏ธ ๐ช๐ต๐ฎ๐ ๐ฑ๐ผ๐ฒ๐ ๐๐ต๐ถ๐ ๐บ๐ฒ๐ฎ๐ป ๐ณ๐ผ๐ฟ ๐๐ผ๐ ๐ฎ๐ ๐ฎ ๐๐๐๐ฒ๐ฟ, ๐ฆ๐ฒ๐น๐น๐ฒ๐ฟ, ๐๐ฎ๐ป๐ฑ๐น๐ผ๐ฟ๐ฑ ๐ผ๐ฟ ๐ง๐ฒ๐ป๐ฎ๐ป๐? Honestly, it's shocking how much has changed in the real estate legal world this year. If you didn't stay on top of the news and do some research, your information will be outdated- but I'm here to help. I literally have built my life around real estate, and I'd love to talk you through it. Send me a message, or come to my Crossbay office and sit down. ๐๐ณ ๐๐ผ๐ ๐ฎ๐ฟ๐ฒ ๐ฏ๐๐๐ถ๐ป๐ด, ๐๐ฒ๐น๐น๐ถ๐ป๐ด, ๐ผ๐ฟ ๐ฟ๐ฒ๐ป๐๐ถ๐ป๐ด ๐ถ๐ป ๐๐ต๐ฒ ๐ณ๐ฎ๐ฐ๐ฒ ๐ผ๐ณ ๐ฎ๐น๐น ๐๐ต๐ฒ๐๐ฒ ๐ฐ๐ต๐ฎ๐ป๐ด๐ฒ๐, ๐ฒ๐บ๐ฝ๐ผ๐๐ฒ๐ฟ ๐๐ผ๐๐ฟ๐๐ฒ๐น๐ณ ๐๐ถ๐๐ต ๐บ๐ฒ!
