LIEB BLOG

Legal Analysts

Showing posts with label Dan's Papers. Show all posts
Showing posts with label Dan's Papers. Show all posts

Wednesday, June 21, 2017

Lieb at Law: Top Tips For Strategically Negotiating Real Estate Deals

Negotiating is first and foremost about preparation.

The following is the first half of a negotiating list that is your go to guide for your next real estate transaction. Whether you are buying or selling, renting or just contracting for a home improvement, you will need to negotiate the deal. To get ready, go over this list, tailor it to your situation and then practice, practice, practice with friends and family. Don’t skimp on practice: any weakness in your negotiating game will be exploited by your counterpart.

You must take control to successfully negotiate your next real estate deal. This is the first in a two-part series.

Tuesday, May 23, 2017

Top 10 Questions for Landlords to Ask Themselves Before Leasing to a Friend

Many homeowners on the East End rent out their property for various parts of the summer season in order to recoup their carrying costs on the property and to have an additional source of income. Some even rationalize their initial purchase of their vacation home by calling it an investment property, where they plan to designate a set period of time that the property will be used for investment purposes and another limited time where it’s designated for pleasure. So when a friend asks to rent this vacation property, knowing of its availability, it may sound like a godsend: you can have an easy experience, avoid using a real estate broker, and save on brokerage fees while also helping out a friend who will love your property as you do. However, before letting your friend lease your property, you need to ask yourself: do I want to lose my friendship with this prospective tenant if the rental doesn’t work out?
If your answer to this question is that it’s completely inapplicable to you because your plan is to simply allow your friend to live at your expense and you have no problem with the financial burden resulting from the lost income stream, you should nonetheless consider possible liabilities that your friend can cause you. Beyond the liabilities of town/village code violations for noise violations, parking violations, rental permit violations, and so on, there is property damage and don’t forget feeling unappreciated when you are doing a good deed.
Regardless, all landlords should ask themselves the following questions before just jumping to the conclusion that renting to a friend is a good idea:

Friday, May 12, 2017

Top 5 Estate Planning Considerations for the Effective Transfer of Real Estate Ownership

Wednesday, November 23, 2016

Top Reasons to Be Thankful For East End Real Estate Brokers

The best listing agents sell property based on substance. Before even marketing the property, these agents understand that they are brokering a specific property that requires a tailored approach. 

From Due Diligence, Negotiations and Fair Housing, top Real Estate Agents continue to impress us. Learn what they do to lead the industry. 

Wednesday, October 05, 2016

Summer’s Over: How to Prepare Your Home for Next Year

With the summer season over, East End landlords are in the process of retaking possession of their homes. Beyond perhaps a few beach trips, it’s the time of year when landlords need to assess the extent that their tenants damaged their summer homes and to hire contractors to make the requisite repairs and improvements to those properties in order for them to be ready for next year’s crop of tenants. However, the damage is not the end of the headache.
Instead, incident to getting those repairs done many landlords will end up fighting with contractors over fees, which can be an all-consuming experience because of the ever-present threat of a mechanics’ lien. Pursuant to the New York State Lien Law, a mechanics’ lien is a type of security instrument in real estate available to a “[a] contractor, subcontractor, laborer, materialman, landscape gardener, nurseryman … who performs labor or furnishes materials for the improvement of real property with the consent or at the request of the owner,” which must be filed within 4 months (8 months in commercial) of the last date such labor or materials were provided at a residential project. 
Andrew Lieb, Esq. shares the top 5 facts about mechanics’ liens that every homeowner should understand on Dan's Papers. Click here to read the full article. 

Monday, August 29, 2016

Top Five Questions Most Asked Of A Real Estate Lawyer In The Hamptons

For parties on both sides of the deal, the undertaking of buying and selling property can be…involved, to say the least. An Attorney can help you negotiate the morass of legal requirements and provide insight into the process. Though each property-buying experience is different, there are several questions that real estate lawyers are asked time and again.

Andrew Lieb, Esq. shares the top five more common queries on the Huffington Post. Click here to read the full article. 


Monday, August 15, 2016

Real Estate Law: Developing the East End

Everywhere that you turn in the Hamptons and on the North Fork there are newly constructed homes. Not only is the East End’s landscape filled with residential development, but, throughout the two forks, building spec homes has become a dominant industry. Spec developers first purchase a plot of land and then improve the land with a fabulous construction that they speculate will increase the property’s valuation far more than the composite cost of the land and the construction, individually.

However, such residential construction is speculative because the house is only marketed for sale once it has either been built or is close to a finished product. As a result, spec developers are selling finished products without any guaranteed purchaser, in contrast to offering their construction services to a consumer for a fee, as is done in a custom home job. In recent years, it appears that spec developers have been very successful, as more and more speculative construction is popping up throughout our East End neighborhoods. 

Wednesday, August 10, 2016

Real Estate Law: Mold Remediation

Even the most magnificent homes face a challenge that can have an impact on property value, the beauty of your living space and your very health: Mold. The issue may not sound pretty, but there’s hope. Starting this year, Mold Remediation is a licensed field in New York State. 

Here are five facts that you should know in order to ensure that you are protected by the license law if you’re considering having your home remediated in 2016 or thereafter.

Monday, August 01, 2016

Top Five Real Estate Trusts Used by East Enders

The East End is a legacy community where families summer by the ocean, bay and wineries for continual generations. These families engage in strategic succession planning, whereby a trust, as an essential planning tool, is generally the best vessel to pass one’s Hamptons or North Fork real estate onto the next generation. A trust can address both federal and New York State estate tax issues, which can be crippling if ignored.

New York State taxes estates valued over $4,187,500 in 2016 at a rate that can reach up to 16%. In addition to New York State’s estate tax, the federal government taxes estates over $5,450,000 in 2016 at a rate that can reach up to 40%. So all individuals who don’t want their family’s summer home to fall victim to the tax collector must consider how best to pass their legacy onto the next generation.

Even with lower real estate valuations, trusts remain an essential succession-planning tool because they can prevent creditors from seizing certain properties and can control future generations from engaging in an undesired liquidation of the family’s home. 

Tuesday, July 12, 2016

Top 5: Look No Further Than Lieb

Before making a real estate decision, read these five articles written by Andrew Lieb, Esq.

Tuesday, July 05, 2016

Hamptons Real Estate Law: Never Overlook the Lease

Monday, May 16, 2016

Agency Disclosure Simplified - A Must Read

Finally, an article that simplifies this extremely complicated agency disclosure topic.

Buyer’s Agent. Seller’s Agent. Direct Deal. The terms may sound familiar, but do you or your clients or customers really know what they mean? That knowledge is essential for all sides in real estate dealings, particularly in understanding commissions and not violating license laws.



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 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. 

Monday, August 31, 2015

Five Discrimination Issues in Residential Real Estate Leasing

Landlords have an incredible number of issues to deal with, not the least of which is considering to whom they will open their doors as tenants. Landlords and their agents are restricted by civil rights laws from privately discriminating against prospective and current tenants. In fact, the seminal U.S. Supreme Court case of Reitman v. Mulkey expressly found that a private right to discriminate was unconstitutional. Yet, what does it mean for a landlord to discriminate? Here are the five ways a landlord can get sued under discrimination laws.

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

Wednesday, August 05, 2015

The 5 Most Common Landlord/Tenant Disputes

Long Island is developing its rental inventory in droves with mixed-use downtowns and multi-family construction. We saw development first boom in the emergence of Patchogue. Now it’s Riverhead, with the recent sale of the Sears building and the prospective redevelopment of the site to include 160 apartments in a revitalized downtown. Yet, this is nothing new to the East End, where our summer rental community has supported the economy for decades. While rentals offer a great housing option that supports the community, they also involve many disputes that find their way into our courts.

Read the full article in Dan's Papers, written by Andrew Lieb, Esq. here. 

Friday, May 15, 2015

5 Ways Rich People Save Money on Real Estate Transactions

Even the most affluent buyers and sellers want to save money on their real estate transactions beyond negotiating the sales price. Many find themselves shopping mortgage brokers for best rates, trying to negotiate commissions out of real estate brokers, or finding the attorney who charges the least. There are many other ways that real savings in real estate transactions are realized beyond squeezing your service providers and commoditizing their services. Instead, buyers and sellers should realize true savings by utilizing these five tips in real estate transactions.

Read Andrew Lieb's full article in The Huffington Post or Dan's Papers.


Tuesday, April 14, 2015

10 Secrets to Dealing with Neighborly Disputes

These are the top 10 legal issues that you may face with your neighbor and how they will be resolved, in court, according to the law. Perhaps, this article will show you that a private, non-legal, neighborly, agreed-upon resolution is a better option for your predicament than turning to the courts. Then again, perhaps not.

Read the published article written by Andrew Lieb, Esq. in Dan's Papers by clicking here.

Monday, January 26, 2015

10 Questions to Ask Yourself About a Summer Rental

Andrew Lieb's latest article is now available on Dan's Papers.

Keep these tips handy when planning your seasonal rental search.

Thursday, December 18, 2014

New Show Brings Your Neighbors to "Court" - Andrew Lieb's New Reality TV Show Featured on Dan's Papers

Real estate has long been the star attraction on the East End, and soon it will star in the pilot of a new reality TV show. The brainchild of real estate attorney and Lieb School founder Andrew Lieb, Neighbor Court will hear real estate disputes between neighbors and, with Lieb himself as the Arbitrator, resolve the situations while entertaining and educating the public about the laws that rule the market in which we buy, sell, rent and live.

To read the full article, written by Eric Feil of Dan's Papers click here

Find Full Casting Call for "Neighbor Court" at DansPaper.com