Begley & Webster, LLC

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Begley & Webster, LLC Springfield area law firm specializing in real estate, family/divorce, and social security disabilit

08/05/2024

Real Estate Friends....With the new changes effective very soon, it will imperative that Brokers utilize the new forms supplied by MAR. The RAPV sent out a newsletter recently with copies of the forms for agents to familiarize themselves with. If a buyer is paying a part of the commission, PLEASE be sure to let the buyer's lender as early as possible know so they can be sure that they can account for it when verifying the buyer's cash to close. A commission paid by a buyer still has to be listed on the Closing Disclosure and can't be "on the side" as it's part of the transaction. A reminder, the Sitzer settlement is only preliminary and the Dept of Justice continues to "investigate" as I suspected they would once given the green light by the courts to do so this spring. As such it is necessary that agents follow the guidance of MAR so we don't give the DOJ a reason to try to interfere in the settlement.

03/28/2024

There have been recent changes to the Connecticut requirements to the affidavit for smoke/carbon monoxide detectors for sellers in CT. The recent change
eliminates the ability of those selling and transferring residential properties in Connecticut to give the new owners a $250 credit rather than providing a signed affidavit attesting to the presence of smoke and carbon monoxide detectors.
Many sellers have chosen to provide the $250 credit in the past because the affidavit required the party transferring the property to certify that the smoke and carbon monoxide detection system complied with the Fire Safety Code, the State Fire Prevention Code, and the State Building Code.
Paying the $250 credit rather than signing the affidavit served to reduce potential exposure to liability. Providing the $250.00 credit is no longer an option.

However, while providing a signed affidavit is now mandatory, the revised statute removes the requirement for those transferring property to provide certification of compliance with state fire safety, fire prevention, and building codes.

At the time of closing on a transaction the seller must provide an affidavit to the buyer stating that the building or unit is equipped with
• Smoke detector/ carbon monoxide detectors to be installed in or in the immediate vicinity of each bedroom.
• Produce an audible alarm when the equipment’s test button is depressed.
• Interconnected in such a manner that activation of the alarm on any such equipment activates the alarm on all such equipment in the building or unit (provided that, for any residential building or unit constructed prior to January 1, 1990, the transferor can specify that the conditions requiring that the equipment be interconnected are not applicable to the building or unit)

There are exemptions to the requirements for providing an affidavit, which were expanded in the updated statute such as a transfer to immediate family or a transfer from a trustee/executor.
Attorney Michelle Begley is happy to assist with your CT deals.

03/18/2024

Just a reminder to all my real estate peeps that Monday April 15 is Patriots Day and the Massachusetts Registry of Deeds is not open. Please do not schedule closings in MA for this day. :-)

02/16/2024

Realtor friends...we've had quite a few sign ups for the March 6 event from 11:30 to 1 pm at RAPV but there is still time to sign up. $10 for members and $25 for non-members. Learn about tenant estoppel certificates, lead paint requirements, what should I tell my seller about the security deposit, what if one of the units is not legal? what is a statement of condition? and when do we need it....etc, etc. Make sure before the spring market hits that you know how to navigate multi families. Hope to see everyone there! Lunch will be served. If you aren't sure how to sign up, reach out and I can point you in the right direction.

01/30/2023

Let’s talk about the “public record” in connection with purchasing multifamily properties.
When purchasing a multi family property, it important to check the legal status of the property with the building department. For example: Just because a property is taxed as a 3 family does not make it a legal 3 family.  I often will have agents tell me, but the “public record“ states it is a three family. The “public record“ is not anything that is an official document. Rather, this is just a third-party that has compiled information from public sources and presented it as public record. The complier of this information does not cross check between the building department and the tax assessor to confirm that the use of the property is legal. I have seen this issue a few times over the last several years.
Also, this is not something that the attorney will discover as part of their title exam so it is important for buyers to do their own due diligence with the city or town building department.




Address

1284 Elm Street, Ste 3
West Springfield, MA
01089

Opening Hours

Monday 8:30am - 4:30pm
Tuesday 8:30am - 4:30pm
Wednesday 8:30am - 4:30pm
Thursday 8:30am - 4:30pm
Friday 8:30am - 4:30pm

Telephone

+14137331400

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