Over the years there have been a multitude of lawsuits filed involving whether a valid contract was entered into between purchasers and sellers of real property. Recently, in Cohen v. Holder, the Appellate Division, Second Department, issued an opinion dealing with this issue once again. The Statute of Frauds is a common law concept that…
Read MoreReal estate transactions begin and end with contracts. Lots and lots of contracts. This month, I’m going to address some issues related to these contracts. Executing a Contract While an agent is the party who meets with the client (buyer or seller), negotiates all the terms, and does all the “heavy lifting,” it’s the broker…
Read MoreThe legislative and judicial landscape continues to change for New York real estate licensees and the entire real estate industry. New developments are taking place each day and now, more than ever, it is important for real estate licensees and real estate professionals to keep up to date with all of the changes. As discussed…
Read MoreIt’s that time of the year again—tax season! It is an important time of the year to revisit some of the tax deductions and benefits available to real estate owners and real estate agents. Even with all the negative issues (e.g., inflation, increasing interest rates, higher energy and food prices, and much more) affecting the…
Read MoreBack in November 2020 I authored an article regarding buyers sending personal letters, otherwise known as “love letters” to sellers. The purpose of that article was to highlight the potential discriminatory use of those letters. At that time, the Newsday article “Long Island Divided” and its investigation into discrimination was still fresh, and the National…
Read MoreIn a recent decision, 14 East 4th Street Unit 509 LLC v. Toporek [see https://bit.ly/339BzL5], the Appellate Division, First Department discusses the requirements contained in the Housing Stability and Tenant Protection Act of 2019 relating to the landlord’s duty regarding security deposits and landlord’s duty to mitigate damages upon a tenant breach of the lease.…
Read MoreAs members of HGAR, you are a REALTOR®. That REALTOR® mark signifies a member’s commitment to protecting clients, the public and other real estate professionals, as well as to conducting business with integrity and providing high standards of real estate service. It’s a privilege to be able to use that mark. Whether you realize it…
Read MoreOn Dec. 21, 2021, Gov. Kathy Hochul signed expansive new legislation contained in nine bills aimed to combat housing discrimination in New York State [see https://on.ny.gov/3FfcBXJ]. The legislation was passed as a direct result of Newsday’s investigative report entitled “Long Island Divided” [see https://bit.ly/3zKUQP0] and addresses many of the concerns and issues uncovered in the…
Read MoreHappy New Year!! I hope this month’s article finds everyone well and reenergized for 2022. As we return to work in this new year, I thought I would use this article to provide a refresher of the latest-and-greatest of the changes that are impacting your real estate activities. Enjoy. State of Emergency Executive Order and…
Read MoreIt has been over two years, Nov. 17, 2019, since Newsday published its comprehensive and devastating investigative report entitled “Long Island Divided” [see https://bit.ly/3yq9Elz]. The article sent shock waves through the entire real estate industry. Newsday’s article became the catalyst that launched a major movement, led by state and local governmental officials and agencies, such…
Read MoreThe end of the legislative year in Washington D.C. is at hand and as of this writing Congress passed a landmark infrastructure bill that President Biden signed into law. This was indeed ground-breaking. The country has not had a multi-year infrastructure bill since President George W. Bush signed the bill into law in 2005. Billions…
Read More(Editor’s Note: Part two of a two-part series) In the first part of my “Stand and Deliver” column for Real Estate In-Depth published in the November edition, I noted that with the holidays fast approaching, it seemed an appropriate time to give a refresher on the need for Realtors to cooperate, show courtesy and to…
Read MoreIn connection with every real estate transaction in New York, real estate attorneys and real estate agents discuss with their clients, whether they are sellers or buyers, what the “closing date” will be and how it is to be determined, often utilizing terms such as “on or about closing date,” “reasonable time” and “time of…
Read More(Editor’s Note: Part one of a two-part series) The holidays are quickly approaching and with it, the anticipation of holiday cheer, kindness, courtesy, and giving. While this is wonderful, as Realtors we should be embracing this attitude all year long. Sadly, whether due to the market, the business, political unrest, or some other factors, the…
Read MoreThe real estate industry has certainly been through a lot during the COVID-19 pandemic. At the start of the pandemic, many real estate agents and brokerage firms faced the real concern that the entire real estate market was on the brink of collapse. The panic that had set in quickly subsided and, surprisingly, the real…
Read MoreBack in 2019, the New York legislature enacted a broad new law that provided sweeping housing reforms and protections for tenants relating to permanent residential housing. Among these rent regulations was one that caught many landlords and real estate agents by surprise and I am still asked, nearly two years later, to confirm or explain…
Read MoreThe eviction moratorium has gone on for longer than it should have. While the pandemic is still with us, New York has been opening up. The virus is now likely to become “endemic” meaning that it is a condition we have to live with and adjust to. Legislation to provide rental aid has been passed,…
Read MoreOn Sept. 1, 2021, our area was hit particularly hard from the remnants of Hurricane Ida. Record-setting levels of rain fell in just a few hours causing unprecedented flash flooding leaving horrific death and destruction in its wake. Our thoughts and prayers go out to all of those who lost their lives and to their…
Read MoreA Realtor must act in the best interests of his/her client (Code of Ethics, Article 1). A good agent will do everything in their power to get their client the best deal or consummate a transaction. However, sometimes, an agent will overreach in order to manipulate parties or negotiations. While good-intentioned, it may get the…
Read MoreRealtors won a victory at the federal level when the Supreme Court struck down a CDC eviction moratorium by a 6-3 margin reasoning that the CDC exceeded its authority to issue the moratorium absent Congressional legislation. Forty-two billion dollars in rental assistance was passed by Congress in March. To date, nationally, only $11 billion has…
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