Otis Duffy

Many people are taking advantage of the sharing economy and making money in ways unimaginable a few years ago.  Airbnb launched in 2008 allowing homeowners, renters, property managers etc to offer a place to stay whether on a coach, to a mansion with 15 bedrooms. Globally, cities are implementing...

This law requires sellers to deposit commissions until it has been decided whether the broker is entitled to commissions under the written brokerage contract. This law requires certain language in a contract to make this enforceable and additional requirements to be able to have the commissions d...

I encourage all Real Estate Brokers to read this article and also to reference this article, but THE ARTICLE SHOULD NOT BE RELIED ON AS LEGAL ADVICE AS I AM NOT AN ATTORNEY.  IF YOU ARE READING THIS AND ARE AN ATTORNEY I ENCOURAGE YOU NOT TO RELY ON THIS BLOG AS THIS IS FOR EDUCATIONAL PURPOSES A...

Many landlords and tenants are not aware of the laws that govern there tenancy.New Jersey State Law (N.J. Stat. Ann. 2A:42-10.10, 2A:42-10.12.2) prohibits landlords from retaliating against tenants.It is illegal for a landlord to retaliate against a tenant in NJ who has exercised a legal right, i...

Centum Real Estate Group, a full-service real estate brokerage firm in New York and New Jersey that specializes in commercial and residential properties, has announced a new recruiting platform that revolves around the idea of a 100% commission model for real estate agents. The real estate firm f...

Depending what state you are in capital gains can be a huge burden to selling your primary residence.  While your primary residence does not qualify for a 1031 exchange, a Deferred Sales Trust may be just the thing to avoid large capital gains.  Go to www.CentumDST.com to learn more about how the...

New Jersey is a Statutes of Frauds State. New York is a Procuring Cause State. An oral brokerage agreement is enforceable under New York law and does not violate the Statute of Frauds.  In New Jersey all agreements must be reduced into writing to comply with the Statute of Frauds. The statute of ...

How do you value land or a building that you are thinking about putting a multi-family building, say 30 units.What is the land worth?  How do you appraise it as it has no income?  Many investors will buy real estate subject to approvals, if they can get the land approved for a certain amount of u...

Seller calls you and says he decided not to sell for certain reasons and you have no reason not to believe them and you dont want to call them a liar so what do you do........Get a call a month later saying your million plus dollar deal has closed and you did not get paid the comissions that you ...

I recently went to a seminar on Deleware Statuatory Trusts. This is a great alternative to the standard 1031 transaction where you have 45 days to identify the property and 180 days to close.With a Deleware Statuatory Trust (DST) not to be confused with my other blog about Deferred Sales Trust (D...