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November 2011 Archives

Home Buying/Selling: What Does a Real Estate Attorney Do?

Buying or selling your home will probably be the biggest transaction you will ever make. And as real estate transactions are governed by a different set of laws than other purchases, you will probably want to hire the right real estate attorney to help you navigate the complex process.

So, you might be asking yourself, what does a real estate attorney do?

$100,000 Penalty for Developers of Rumney Marsh

Developers of the former Atlantic Lobster Company site in Saugus just got nailed with a $100,000 civil penalty for developing on the protected marshes and wetlands of Rumney Marsh.

The developers, Pamela Avedisian and Gary DeCicco, allegedly tore up and altered the wetlands without seeking permission from authorities and now have to restore the lands in addition to paying the monetary penalty, reports the Saugus Advertiser.

Landlord Liability for Crimes?

Boston is primarily a student town. So with the odd combination of naivete and braggadocio that often comes with 18- to 22-year-olds, landlords in Boston might expect a bit of crime in their neighborhoods ranging from petty thefts to drug dealing and even assaults.

In that case, you may be wondering what is a landlord’s liability for crimes?

Comparing Mortgages: Interest, Points, and Fees

The pleasant part about shopping for a new home is visiting open houses and imagining you and your family in a new setting. But when it actually comes time to buy the home, you will likely need to borrow money, kicking off what may be the unpleasant process of mortgage shopping.

Comparing mortgages is vitally important, as mortgage interest, points, and fees are all costs that you may not think about when you see the sticker price for a home. So even if you buy a home for $500,000, you still may have to pay thousands of additional dollars throughout the course of your loan, simply for the privilege of borrowing the money.

So how to begin comparing mortgages?

3 Questions to Ask When Buying a Timeshare

You may be coaxed into attending a timeshare seminar with a free hotel stay, car rental, or even cash. And at the seminar, you may actually decide that a time share is right for you.

But before buying, you will want to answer three questions regarding whether buying a timeshare is right for you.

Do I Need to Hire Somone with a Massachusetts Contractor License?

Home repair and remodel can be expensive. This is especially true if you hire licensed contractors to do the work. So if you consider yourself handy, or have a friend who's good around the house, you may just want to do the home repair or remodeling yourself and save a few bucks.

But while you may be legally allowed to do the work yourself in some cases, you should be aware that for most major home improvement projects, you will be required to hire someone with a Massachusetts contractor license.

What are Tenant Rights in Foreclosure?

Even if you don’t own a home, you can be hit hard by foreclosure. And as more and more landlords continue to default on loans and enter foreclosure, renters will want to know what are tenant rights in foreclosure.

When a home is foreclosed upon, the bank becomes the new property owner and the new landlord. As banks normally aren’t in the business of renting homes, the bank will likely try to get rid of the property as soon as it can. Upon sale, renters may be evicted from the home.

Think You Are Ready to Buy a Home in Boston?

We previously wrote about the scary rental market in Boston. Want to live in Kendall Square? You’ll have to pay almost $2,800 a month.

Too expensive? As an alternative, you may just want to buy a place instead of throwing away all that money on rent. At least that $2,800 a month can go towards your principal.

Types of Mortgages and Financing to Purchase a Home

You may be well aware that there has been a financial crisis that has gripped this country for the better part of three years. You may also be aware that this financial crisis was due in large part to mortgages — specifically the inability to make mortgage payments — that crashed the real estate and financial markets.

But despite the economic crisis, people are still buying homes, and people still need to borrow money to afford homes. So, to avoid a repeat of history, it’s important that home buyers know about the different types of mortgages so they are not caught off guard when payments become due.

Buyers: Why Get a Home Inspection?

Why get a home inspection? If you think about it, when you go to an open house, you are probably seeing the home at its most pristine condition. Regardless of how old the home is, the home has probably never looked better.

But while the sellers may spend some money dressing up the home to make it aesthetically pleasing on the outside, the home may be hiding problems on the inside.