Author Archives: Paul H. Begemann

WIRING FUNDS? – BEWARE OF WIRE FRAUD SCHEMES

The use of wired funds for real estate closings is extremely common. Wired funds are immediately available, with no concerns regarding checks being forged, not clearing or being dishonored by the originating bank.  Unfortunately, there has been a recent surge in wire fraud schemes, many of which involve funds being sent for real estate closings. … Read More »

DO I NEED A MUNICIPAL SEARCH OR A BUILDING DEPARTMENT SEARCH WHEN PURCHASING A HOME?

When purchasing a home, it is always necessary to have a title search performed of the town land records to verify ownership, and to insure that any existing mortgages, liens or taxes are paid, so that you receive clear title. One of the tasks of the buyer’s attorney in a residential home purchase transaction is… Read More »

Q & A – NEW CONNECTICUT POWER OF ATTORNEY LAW

Effective October 1, 2016, the Connecticut Legislature revised the law applicable to Powers of Attorney. The new law affects both the process for creating a valid Power of Attorney (“POA”) and the process for using a POA. This blog post will focus on some common questions regarding the creation of a valid POA in Connecticut…. Read More »

FHA LOWERS REQUIRED OWNER-OCCUPANCY RATE FOR CONDOMINIUMS

Earlier this year, Congress passed, and the President signed into law, legislation which directed the Department of Housing and Urban Development (“HUD”) through the Federal Housing Administration (“FHA”) to consider a reduction in the required percentage of owner-occupied units in an FHA approved condominium complex. The current FHA rules require a minimum of 51% owner-occupied… Read More »

ANOTHER BLOW AGAINST MANDATORY CONSUMER ARBITRATION

As we have previously discussed in BE(A)WARE OF CONSUMER ARBITRATION CLAUSES consumer arbitration is coming under increasing attack as a dispute resolution mechanism. The federal agency that controls Medicare and Medicaid funding recently banned the use of mandatory arbitration for the resolution of disputes between nursing homes and their residents, further calling into question the… Read More »

PURCHASING OR SELLING A HOUSE IN CONNECTICUT – PART 3: YOU HAVE A PURCHASE AND SALE AGREEMENT – WHAT’S NEXT?

Parts 1 (Overview of Offer) and 2 (Provisions in your offer & contract) in this blog series discussed the offer to purchase and important contract provisions. Now that you have a signed contract, what’s next? Once you have a signed agreement, a buyer has some important jobs. As explained in Part 2, your contract will… Read More »

SELLING A MULTI-FAMILY PROPERTY IN CONNECTICUT? BUYER MUST SIGN NEW FAIR HOUSING FORM

Effective September 1, 2016, there is a new form a prospective buyer of a residential multi-family property in Connecticut must sign. The form advises the potential buyer of certain fair housing laws that are applicable when offering property for rent in Connecticut. The form must be provided by the seller, signed by the prospective purchaser,… Read More »

OBTAINING A PROPER TENANT APPLICATION

  As a landlord, selecting a tenant is often a difficult process.  It is important that a landlord screen prospective tenants to get the best tenant possible, while following proper procedures in that process.  One of the main tools a landlord can use is a tenant application form. A tenant application form is beneficial in… Read More »

PURCHASING OR SELLING A HOUSE IN CONNECTICUT – Part 2: Important Provisions in your Offer and Contract

As explained in Part 1, an offer to purchase real estate is often made on a contract form, with much of the standard ‘boilerplate’ contract language already completed. However, there are certain provisions that are unique to each transaction. In most of Connecticut outside of Fairfield County, a real estate agent assists the buyer in… Read More »

PURCHASING OR SELLING A HOUSE IN CT – Part 1: Overview of Offer

Buying or selling a home is usually the single largest transaction a person will make, and a consumer should be informed and educated about the process.  There are many professionals involved in each real estate closing, including the real estate agent, the loan officer or mortgage broker, the inspector and the closing attorney, among others. … Read More »

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