Archive for July, 2008

Buyer’s broker

Tuesday, July 29th, 2008

I often speak with new home buyers who think they have to pay for their own broker. A conversation today prompts me to write this post.

If a property is listed for sale with a broker, the seller and the listing broker agree in advance on a commission (usually around 5% of the sale price). If you view a house without a broker and obtain an accepted offer, the listing broker stands to get the full 5% commission at the closing. Additionally, the listing broker has no fiduciary duty to you as buyer. In fact, it’s quite the opposite: the listing broker is working for the seller and his or her obligation is solely to the seller.

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Condo issues

Monday, July 28th, 2008

We’re going to talk a lot about condominiums on this blog, but this article from Boston.com will be a good starter in any event.

Why is this blog different from other real estate blogs?

Monday, July 28th, 2008

Why is this blog different from other real estate blogs?

It is very important to distinguish why this blog will be different from other real estate blogs. Unlike other real estate-related blogs, I’m not a real estate broker trying to get listings. Rather, I want to provide an online forum for people in the Greater Boston area to learn and share their knowledge about all aspects of real estate law. My experience as a real estate attorney helps me understand all facets of a real estate transaction, from selecting a broker and making an offer, to signing the purchase and sale agreement and obtaining a loan. Further, I have access to many people with experience in a wide range of real estate matters, and with any luck, they will be contributing to this site as well.

What’s my motivation?

I truly enjoy helping people learn about real estate (see my bio here). I host various new home buyer workshops throughout Boston, and I relish the opportunity to help first-time home buyers with their purchase. Plus, if you like this blog — and by extension, me — perhaps you’ll keep me in mind for your next real estate transaction.

What can I expect to see on MassRealEstateBlog?

Excellent question. The answer, of course, is anything you want. Just e-mail jcohen@massrealestateblog.com with any questions, or you can post comments and questions to threads, which will either become their own entry or will be answered within the thread.

That being said, here is what I’d like to focus on initially:

  • Selecting a broker and making an offer on a condo or house
  • Getting a signed purchase and sale agreement
  • Working with a lender and locking in rates
  • Closing the loan

Of course, a blog being a blog, there is always room for deviation from this mission statement. I will also post links to newspaper articles that I think are relevant, and I hope to share some anecdotes that occur in my practice to further illustrate many of the topics covered here.

You can read my disclaimer here.

Let’s start blogging!

Welcome!

Sunday, July 20th, 2008

Welcome to the newest and best source of real estate news and advice in Eastern Massachusetts, with an emphasis on legal issues, home-buying tips, and important information every buyer and seller should know before hitting the ground running in the Greater Boston real estate market.

Stay tuned in the coming days, weeks, and months for many new posts, including guest commentators, on a variety of real estate issues.