Monday, September 28, 2015

Foreclosure & The Economy: The Short Sale Class

We have just opened enrollment for the Free CE on 10/15/15 in Patchogue at Briarcliff College. 

This course is instructed by Andrew Lieb, Esq. Online Registration Only. 

Foreclosure & The Economy: The Short Sale Class.

This course will shock you with the latest developments in New York's judicial foreclosure system from the perspective of a litigating attorney who spends his days in the Courts.
Yes, a short sale is not always arrived at in Court through a Foreclosure Settlement Conference and yes, you must also understand Equator, HAFA and Deficiencies to play in this field. This course will hit home when you gain an appreciation for how a foreclosure will work if a short sale is denied, a Referee is appointed and your listing is Auctioned.
Learn the dos and the don'ts. Become familiar with the terms of art. Know the players. Next, save a friend in need by avoiding foreclosure in this troubled economy.

Friday, September 25, 2015

Real Estate Attorney No-No's

You may have read in the news about attorneys who stole their clients’ money, lost their license and went to jail. Yes, managing escrow money gets attorneys in trouble the most often. However, there are many other red flags that you should watch out for when selecting legal representation for your real estate transaction. Here is a list of the top five real estate attorney no-no’s that go beyond theft, and which every client should be mindful of when seeking representation.

Tuesday, September 15, 2015

We Have Been Nominated For Best Law Firm on Dan's Papers Best Of The Best 2015

Estate Deals - Free Lieb School Continuing Education Course Offered in Southampton

Estate Deals

Instructor: Andrew Lieb, Esq., MPH

Credits: 3

Price: Free

Sponsors: Behind the Hedges, Citizens Bank, Douglas Elliman

Course Summary: Estate sales offer a unique opportunity to help the grieving by doing your job professionally. Starting with speaking the language of the Surrogate’s Court, this course will empower the real estate broker / salesperson to assist the Executor / Administrator in liquidating real property in order to satisfy debts of the estate. Additionally, disputes between beneficiaries and with the fiduciary, sales forced by the court, and foreclosures incident to the probate process will be discussed. Lastly, the student will be exposed to the overlay of brokerage and executor’s commissions where an Executor / Administrator is expressly exempt from the Real Estate License Law for Brokerage.

Register Online Here

Monday, September 07, 2015

Real Estate Brokerage Regulatory Updates - 8/16/15 NYS Board of Real Estate meeting summary

On 8/26/15 the NYS Board of Real Estate continued its mission of optimizing the regulation of real estate brokers in our state by holding its meeting in NYC, Buffalo and Albany. To remind real estate brokers and salespersons, the public is welcome at these meetings where the public can bring comments from the floor. Its encouraged that Lieb School students attend these meetings to have your voices heard.

"[T]he Board has general authority to promulgate rules and regulations affecting real estate brokers and salespersons in order to administer and effectuate the purposes of Article 12-A of the Real Property Law."

A complete video of the meeting is available on youtube.

In summary, the following was discussed:

  1. Enforcement:
    • 5 new investigators are on the enforcement staff;
    • Approximately 70% of DOS enforcement is related to real estate brokerage;
    • The majority of enforcement has recently addressed client funds (a/k/a, escrow) - it was suggested that a brokerage creates a job of escrow accounts supervisor to minimize organizational confusion and it was suggested that such individual needn't be licensed in brokerage;
    • Secondarily enforcement has mostly addressed brokers failing to immediately terminate their salespersons upon request by the salesperson;
    • Enforcement contacts respondents often through the email address provided to DOS, so brokers need to check their email (not just physical mail);
  2. Curriculum:
    • Changes to the broker's curriculum are in the works:
    • Curriculum will maintain 45 hour requirement; 
    • Curriculum is expanding the topic of broker's operations to 16 hours, which includes license law and agency; 
  3. The Real Estate License Law updates from 5/2015 address changes to part 19 NYCRR sections:
    • 175.12 - key change of duplicate original to only require a copy (strangely the title stayed at "Delivering duplicate original of instrument")
    • 175.20
    • 175.24(a)
    • 177.2
    • 179.1
    • 179.2(b)
    • 179.3(a) 
At the end of the meeting there was public comment addressing 19 NYCRR 177.2, which states, in pertinent part, as follows "[n]o real estate course of study seeking approval may be affiliated with or

controlled by a real estate broker, salesperson, firm or company or real estate franchise, or controlled by a subsidiary of any real estate broker or real estate franchise." 

Specifically, it was alleged that online schools are giving referral fees to brokerage offices that recommend such schools on the brokerage's website. The Board suggested that a complaint be made to enforcement and/or an opinion letter be requested from the Department of State to clarify the applicable regulation to the alleged facts.  

The next meeting will be scheduled in November or December 2015. 

Tuesday, September 01, 2015

Top 5 Risks For Airbnb Landlords

It may seem homeowners have a money tree at their house. It’s easy, just rent your house for the weekend and the dollars will shake into your bank account. Better yet, companies like Airbnb can facilitate the process and get landlords timely and secure payments, right? Making money is never so easy. Here are five risks of using Airbnb. In each, you need to decide if an Airbnb host is a residential property landlord or instead a hotel operator, in order to understand your exposure.

Read the full article by Andrew Lieb, Esq. here.