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We Salute You

We have so much respect and gratitude for our veterans and active military. As a small offering of gratitude, we will be offering a 10% discount to veterans and active military who purchase a title insurance policy written by us through Old Republic Title Insurance. This offer only applies to new policies and we can not retroactively reimburse you for previous transactions.

Some of our lenders and realtors offer discounts for veterans and active military also; please let us know if we can help you put together a team for your next home or refinance!

Warm regards,
John & Faye

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You Had the Power All Along

We are going to let you in on a little secret. Sellers do not need to attend the closing when they sell a property. In fact, many attorneys would prefer that sellers do not. Here’s why:

1. Small talk between the parties can be downright scary. We recently worked with a buyer who, mid-closing, asked the seller why there were coffins in the basement. Yes, you read that correctly. COFFINS.

It’s safe to say that it was a pretty scary few seconds until the seller gave a “reasonable” response. While this question is a once in a lifetime, small talk between the parties always has the potential to derail a transaction and nobody wants that to happen.

2. In most cases, the seller leaves the closing table without a check in their hands (unless the closing happens at the Registry of Deeds). The transfer of ownership needs to be “on record” before the seller receives a check or wire for their proceeds. Recording may take a couple of hours, especially where some lenders require authorization prior to filing documents at the Registry and (electronic) recording takes a little while to process.

3. Your attorney can sign documents on your behalf with a Limited Power of Attorney. By having your attorney sign for you, your time can be spent signing documents for your next home, working or having coffee with a friend.

A Limited Power of Attorney allows someone to act on your behalf for a specific transaction or purpose. By contrast, a Durable Power of Attorney allows someone to assist you more broadly with legal and financial matters.

As always, please let us know if you have questions about this topic, need representation in the sale or purchase of a home, as well as any other legal matters.

If you are interested in this topic, you may enjoy this article :
https://www.realtor.com/advice/sell/5-tips-se lling-a-home-from-out-of-state.

Regards,
John and Faye

Caveat Emptor

Caveat Emptor

Buying a house is a huge investment. Unless you build the house for your family, there may always be some things that you don’t know about your house before you buy it or for years thereafter.
 
Imagine that of one of the previous owners had died years earlier. The Seller may or may not have actual knowledge of anything that occurred prior to their ownership. Nonetheless, the Seller has no obligation to
tell the Buyer if the person died in the home unless the Buyer asks a direct, specific question about it (ie. Has anyone ever died in this house?).
 
Massachusetts law puts the burden on the Buyer to ask the “right”
questions of the Seller. The most significant way that most Buyers do their due diligence is by getting a very thorough inspection; however, there are two exceptions to this rule:
 
1. Lead paint: Under Section 197a, prior to signing a Purchase and Sales, the Seller must provide a signed copy of a lead paint disclosure. 
The Property Transfer Notification Certification advises the Buyer about
the general dangers of lead paint and provides any information that the Seller might have about its presence in the property. This is one of the few documents that the real estate agents must sign during the entire
transaction, but they are only confirming that they presented the
information to the Buyer; and
 
2. Septic: Sellers must disclose whether there is a septic system on the property. Prior to closing, the Sellers must also provide a Title V which confirms that the system is working properly.  Many Sellers will have the Title V inspection done prior to listing their home to avoid any potential issues that might be raised.
 
Some Buyer questions may also be answered by a simple Google search.  Most sellers would not disclose if the house had some friendly (or unfriendly) ghosts; however, a simple online search might provide an answer to a curious Buyer.
 
Is there anything that you would want or not want to know about
your house?
 
As always, please let us know if you have any questions about this
or any other legal matters.

Regards,
John & Faye      

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You’ve Got to Know When to Hold ‘Em.

“You’ve got to know when to hold ’em
Know when to fold ’em
Know when to walk away
And know when to run
You never count your money
When you’re sittin’ at the table
There’ll be time enough for countin’
When the dealin’s done.”
– Kenny Rogers

Mortgages are a bit like gambling. You never know when the “perfect time” to initiate a new mortgage is, because there is always a risk that interest rates could go down slightly right after you sign the documents; however, there is always a risk that rates could also rise. The good news is that you can always refinance if rates drop, so unlike gambling, you can “fix” a bad hand.

Right now is a great time to buy (or refinance if you haven’t already done so). Mortgage rates are still really low and  housing prices have stabilized. Of course, nobody wants to pay more than they have to for their home. Here is how to “win” the mortgage game:

1. Connect with a really good loan officer.* He or she will help you to obtain the best mortgage rate available based on your income, liabilities, assets and credit score;
2. Correct your credit score, if needed;
3. Consider a 15 year mortgage instead of a 30 year. The monthly payments are often only slightly higher, but you can save a ton of money by minimizing how many years you are paying interest;
4. Take your pre-approval and start looking for a new home with a realtor; and
4. Retain an awesome attorney to close your mortgage!

Curious about the current mortgage rates? Check out this website:
https://themortgagereports.com/47095/mortgage-rates-today-january-21-2019-plus-lock-recommendations

Wondering about how much a mortgage might cost? For a ball park range only, peek at this one:
www.mortgagecalculator.org

If you just want to listen to Kenny Rogers:
https://www.youtube.com/watch?v=UyARoGIzmKk

As always, please let us know if we can help with a real estate or any other legal matter.

Regards,
John & Faye
* If you are in need, we are happy to recommend a really good loan officer. 

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Television Lawyers

If you follow us on Facebook*, you probably know that we love to reference movies and television shows. We bet you know some of these names: Vinny Gambini. Rachel Zane. Saul Goodman.  Fletcher Reede,   Sol & Robert. Rebecca Bunch.  Lionel Hutz.  Elle Woods.

What do all of these names have in common? They are all attorneys created by Hollywood and take creative liberties about what it like to practice law in the real world.

1. Attorneys are more like chess players than dramatic actors If you walk into a court house, you won’t see lawyers slamming their fists on the table or hear dramatic music. What you will find is lawyers huddled in a corner or in a conference room, trying to position their client in the most favorable way. There are, however, those Elle Woods toe tapping moments, where a new realization changes our next move.

2. Attorneys are actually decent people. Being an attorney means that you get to help people in your community with real solutions. We are generally nice people, just trying to perform a service, not the nasty, self serving jerks that Hollywood often makes us out to be.

3. Attorneys are pretty honest.  We present evidence that is favorable to support our client’s position. We can be creative in arguments and questioning.  We can present alternative explanations.  Much to the surprise of some clients and as Fletcher Reede once said, we “cannot lie.”

4.  Attorneys put a lot of work into an argument.  Good attorneys can make a strong argument and make it appear effortless.  One of our best friends participated scholarship pageants when we were in college. Did she wake up every morning looking like a Disney princess?  Nope, but she wanted to win, so she practiced her singing and spent a lot of time fine tuning her interview skills.  Similarly, attorneys spend hours, days and months looking at evidence and planning to argue our client’s position.

Who is your favorite lawyer on television or in a movie?**

If we can assist you in any legal matters, please call or email us at fayejslgal.com.

Regards,
John & Faye

* If you don’t, you should: https://www.facebook.com/Wjslegal/?ref=bookmarks
** Ours is currently Saul Goodman!