Windhill Realty Blog » Seller Info http://blog.windhillrealty.com News and helpful insight from the real estate advisors at Windhill Realty Wed, 01 Feb 2012 15:06:35 +0000 en hourly 1 http://wordpress.org/?v=3.1.2 Something ALL Homeowners Should Know! http://blog.windhillrealty.com/2011/09/20/something-all-homeowners-should-know/ http://blog.windhillrealty.com/2011/09/20/something-all-homeowners-should-know/#comments Tue, 20 Sep 2011 14:11:55 +0000 jmeuse http://blog.windhillrealty.com/?p=2525

New Home Heating Oil Law goes into effect
Sepetember 30th, 2011. 

The new law requires that by September 30, 2011, owners of one- to four-unit residences that are heated with oil must already have or will need to install an oil safety valve or an oil supply line with a protective sleeve on their heating equipment. Installation of these devices must be performed by a licensed oil burner technician. Technicians are employed by companies that deliver home heating oil, or they are self-employed. It is important to note that heating oil systems installed on or after January 1, 1990 are most likely already in compliance because state fire codes implemented these requirements on new installations at that time.
 
For those who need to install this equipment, state officials estimate that the typical cost of installing either an oil safety valve or oil supply line with a protective sleeve ranges from $150 to $350 (including labor, parts, and local permit fees). While it is an expense that is not insignificant, the costs to clean up a leak can be thousands of dollars.

It is important for home owners to remember that this rule applies to all home owners, regardless of whether they are selling their home or not. The Massachusetts Department of Environmental Protection (DEP) has an excellent, easy-to-understand document that explains this new rule.  Click here to get the comprehensive details on the Home Heating Oil Law from the Massachusetts Department of Environmental Protection

]]> http://blog.windhillrealty.com/2011/09/20/something-all-homeowners-should-know/feed/ 0 Ipswich Real Estate-What Sold in June & July 2011? http://blog.windhillrealty.com/2011/07/14/ipswich-real-estate-what-sold-in-june-2011/ http://blog.windhillrealty.com/2011/07/14/ipswich-real-estate-what-sold-in-june-2011/#comments Thu, 14 Jul 2011 15:39:48 +0000 jmeuse http://blog.windhillrealty.com/?p=2386

 

Address #BR #BA List $ Sale $
Single Family        
213 High St, Ipswich, MA 3 2.5 $159,900 $171,000
46 Howe St, Ipswich, MA 3 1 $323,000 $319,200
17 High St, Ipswich, MA 3 2 $450,000 $392,500
26 Turkey Shore Rd, Ipswich, MA 4 2 $469,900 $438,136
5 Emery Ln, Ipswich, MA 4 2.5 $654,000 $648,000
27 Northgate Rd, Ipswich, MA 3 2 $725,000 $715,000
1 Heatherside Ln, Ipswich, MA 3 1 $285,000 $278,000
5 Bush Hill, Ipswich, MA 4 2 $369,000 $360,000
6 Lakemans Lane, Ipswich, MA 3 1 $389,900 $384,000
76 East Street, Ipswich, MA 5 4.5 $465,000 $421,000
217 Argilla Rd, Ipswich, MA 4 3 $579,000 $601,000
17 Longmeadow Dr, Ipswich, MA 4 3.5 $649,000 $625,000
18 Oakwood Knoll, Ipswich, MA 4 3.5 $725,000 $710,000
         
Condominium        
5 Lanes End, Ipswich, MA 2 1.5 $309,900 $286,100
3 New Mill Pl, Ipswich, MA 2 2.5 $354,900 $345,000
65 River Pt Dr #26, Ipswich, MA 2 2.5 $359,900 $357,400
61 River Pt Dr #27, Ipswich, MA 3 2.5 $396,900 $396,900
16 Appleton Pk F1, Ipswich, MA 2 1 $96,900 $84,000
500 Colonial Dr #308, Ipswich, MA 2 2 $169,900 $161,400
500 Colonial Dr #104, Ipswich, MA 2 2 $179,000 $165,000
12 New Mill Place, Ipswich, MA 2 2.5 $335,000 $330,000
         
Multi-Family        
6 River Court, Ipswich, MA 2 Unit $349,000 $326,500

 

This representation is based in whole or in part on data supplied by our MLS partners. These entities neither guarantee nor are responsible for data accuracy. Data maintained by MLS may not reflect all real estate activity in the market.

]]> http://blog.windhillrealty.com/2011/07/14/ipswich-real-estate-what-sold-in-june-2011/feed/ 0 Topsfield Real Estate-What Sold in June & July 2011? http://blog.windhillrealty.com/2011/07/14/topsfield-real-estate-what-sold-in-june-2011/ http://blog.windhillrealty.com/2011/07/14/topsfield-real-estate-what-sold-in-june-2011/#comments Thu, 14 Jul 2011 15:38:13 +0000 jmeuse http://blog.windhillrealty.com/?p=2372

 

Address #BR #BA List $ Sale $
Single Family        
18 Gail St, Topsfield, MA 3 1 $189,900 $200,000
83 Wenham Rd, Topsfield, MA 3 2 $459,900 $427,000
150 Perkins Row, Topsfield, MA 4 2.5 $549,000 $530,000
3 Johns Ln, Topsfield, MA 4 3 $665,000 $610,000
129 Hill St, Topsfield, MA 4 3.5 $779,000 $755,000
64 Wenham Rd, Topsfield, MA 3 2 $242,550 $242,500
14 Sleepy Hollow Rd, Topsfield, MA 4 2.5 $549,000 $540,000
37 Parsonage Ln, Topsfield, MA 4 2.5 $599,000 $578,000
30 Ipswich Rd, Topsfield, MA 4 3.5 $599,000 $450,000
         
Condominium        
47 Great Hill Rd, Topsfield, MA 1 2 $330,000 $296,500
1 English Commons, Topsfield, MA 2 2.5 $698,000 $690,000

 

This representation is based in whole or in part on data supplied by our MLS partners. These entities neither guarantee nor are responsible for data accuracy. Data maintained by MLS may not reflect all real estate activity in the market.

]]> http://blog.windhillrealty.com/2011/07/14/topsfield-real-estate-what-sold-in-june-2011/feed/ 0 Beverly Real Estate-What Sold in June & July 2011? http://blog.windhillrealty.com/2011/07/14/beverly-real-estate-what-sold-in-june-2011/ http://blog.windhillrealty.com/2011/07/14/beverly-real-estate-what-sold-in-june-2011/#comments Thu, 14 Jul 2011 15:36:14 +0000 jmeuse http://blog.windhillrealty.com/?p=2384

 

Address #BR #BA List $ Sale $
Single Family        
47 Hathaway Ave, Beverly, MA 3 1 $199,000 $190,000
53 Chase St, Beverly, MA 2 1 $209,900 $207,000
3 South Hardy St, Beverly, MA 3 1 $215,000 $215,000
213 Brimball Ave, Beverly, MA 2 1 $224,900 $209,000
2 Lincoln St, Beverly, MA 3 1 $247,900 $244,000
23 Bridge St, Beverly, MA 3 2 $259,900 $253,000
195 Brimbal Ave, Beverly, MA 4 1 $279,900 $275,000
20 Bass River Rd, Beverly, MA 4 2 $280,000 $270,000
22 Millbrook Rd, Beverly, MA 3 1 $284,900 $284,500
30 Amherst Rd, Beverly, MA 3 2 $284,900 $284,900
10 Cornell Rd, Beverly, MA 3 1.5 $289,900 $272,500
57 Ellsworth Ave, Beverly, MA 3 1 $295,000 $284,000
18 Garfield Ave, Beverly, MA 3 1.5 $309,900 $305,000
12 Wellesley Rd, Beverly, MA 3 2 $338,900 $325,500
40 Pratt Ave, Beverly, MA 4 2 $339,900 $324,000
24 Lexington Dr, Beverly, MA 5 1.5 $339,900 $315,000
5 Sylvan Rd, Beverly, MA 4 2 $359,000 $355,000
16 Colonial Rd, Beverly, MA 3 1.5 $359,000 $350,000
7 Scenna Rd, Beverly, MA 4 2 $359,900 $331,500
56 Putnam St, Beverly, MA 3 2 $365,000 $371,000
17 Columbia Rd, Beverly, MA 3 1.5 $369,900 $362,000
2 Bayberry Ln, Beverly, MA 3 2 $409,000 $398,000
30 Dartmouth St, Beverly, MA 4 1.5 $439,900 $415,000
31 Iverson Rd, Beverly, MA 4 2.5 $454,000 $460,000
8 James St, Beverly, MA 5 2.5 $518,000 $509,500
102 Hart St, Beverly, MA 4 3 $575,000 $540,000
100 Lothrop St, Bevelry, MA 3 1.5 $625,000 $626,000
1 Canterbury Cir, Beverly, MA 5 3.5 $629,000 $599,000
10 Fern St, Beverly, MA 4 2.5 $639,900 $610,000
4 Emerson Cir, Beverly, MA 4 2.5 $659,000 $625,000
4 Everett St, Beverly, MA 3 3.5 $699,999 $670,000
5 Lawnbank Rd, Beverly, MA 3 3 $759,000 $730,000
23 Whitehall Cir, Beverly, MA 4 3.5 $899,000 $885,000
19 Whitehall Cir, Beverly, MA 4 3.5 $899,000 $860,000
788 Hale St, Beverly, MA 6 3.5 $985,000 $930,000
64 Paine Ave, Beverly, MA 6 4.5 $1,495,000 $1,325,000
675E Hale St, Beverly, MA 7 7.5 $5,800,000 $5,540,000
4 Lyman St, Beverly, MA 3 2 $179,000 $190,000
3 Andover Rd, Beverly, MA 3 1.5 $199,900 $211,000
6 Opal Ave, Beverly, MA 2 1 $249,900 $240,000
18 Radcliff Rd, Beverly, MA 3 2 $249,900 $240,000
87 Baker Ave, Beverly, MA 2 1 $250,000 $225,000
16 Nursery St, Beverly, MA 2 1 $255,000 $240,000
17 Echo Ave, Beverly, MA 3 2 $265,000 $265,000
4 Lakeview Ave, Beverly, MA 3 2 $289,000 $289,900
21 Andover Rd, Beverly, MA 3 1.5 $289,900 $284,000
17 Robinson Rd, Beverly, MA 3 1.5 $369,000 $352,500
17 Williams St, Beverly, MA 4 2 $379,900 $363,750
432 Essex St, Beverly, MA 3 1.5 $379,900 $365,000
19 Sylvan Rd, Beverly, MA 4 1.5 $385,000 $393,000
12 Rezza Rd, Beverly, MA 3 2 $389,000 $377,000
7 Paradise Rd, Beverly, MA 4 1.5 $397,500 $390,000
4 Elnew Ave, Beverly, MA 3 2.5 $475,000 $463,000
44 Ober St, Beverly, MA 4 2.5 $625,000 $575,000
         
Condominium        
31 Elliott St #4A, Beverly, MA 2 1 $149,900 $140,000
9 Summer St #3, Beverly, MA 3 2 $189,950 $189,950
121 Water St #3, Beverly, MA 1 1 $194,900 $191,000
9 Fossa Terr #2, Beverly, MA 3 1 $229,000 $209,000
15 Stone St #I, Beverly, MA 2 1.5 $289,900 $278,000
9 Quincy Pk #2, Beverly, MA 2 1 $420,000 $401,500
30 Mason St #1, Beverly, MA 2 1 $140,000 $137,000
48 Federal St #203, Beverly, MA 1 1 $164,900 $160,000
30 Conant St 1C, Beverly, MA 2 2 $190,000 $180,500
12 Summit Ave #19, Beverly, MA 2 1.5 $194,900 $188,000
116-128 Rantoul St#10, Beverly, MA 1 1 $219,900 $216,000
9 Ames St #2, Beverly, MA 3 1.5 $229,000 $221,500
32 Prospect St #1, Beverly, MA 2 1 $239,900 $226,000
16 School St #1, Beverly, MA 4 2 $259,000 $235,000
9 Bay St #2, Beverly, MA 3 1.5 $285,000 $275,500
116-128 Rantoul St#409, Beverly, MA 2 2 $328,000 $294,000
         
Multi Family        
42 Grant St, Beverly, MA 3 Unit $335,000 $335,000
22 Pleasant St, Beverly, MA 2 Unit $365,000 $345,500
38 Federal St, Beverly, MA 2 Unit $469,900 $457,900
28 Dane St, Beverly, MA 2 Unit $340,000 $320,000

 

This representation is based in whole or in part on data supplied by our MLS partners. These entities neither guarantee nor are responsible for data accuracy. Data maintained by MLS may not reflect all real estate activity in the market.

]]> http://blog.windhillrealty.com/2011/07/14/beverly-real-estate-what-sold-in-june-2011/feed/ 0 Danvers Real Estate-What Sold in June & July 2011? http://blog.windhillrealty.com/2011/07/14/danvers-real-estate-what-sold-in-june-2011/ http://blog.windhillrealty.com/2011/07/14/danvers-real-estate-what-sold-in-june-2011/#comments Thu, 14 Jul 2011 15:34:22 +0000 jmeuse http://blog.windhillrealty.com/?p=2381

 

Address #BR #BA List $ Sale $
         
Single Family        
6 Washington St Ext, Danvers, MA 2 1 $219,900 $223,900
11 Baldwin Rd, Danvers, MA 3 1 $240,000 $206,500
9 Cottage Ave, Danvers, MA 3 1 $254,900 $244,000
28 Carolyn Dr., Danvers, MA 3 1.5 $315,000 $290,000
10 Princeton St, Danvers, MA 3 1.5 $338,500 $335,000
18 Stafford St, Danvers, MA 2 1 $339,000 $361,000
17 Shetland Rd, Danvers, MA 4 1.5 $339,000 $322,500
15 Ray St, Danvers, MA 3 2 $339,900 $332,000
41 Brookside Ave, Danvers, MA 3 2 $349,900 $340,000
10 Regent Dr, Danvers, MA 3 2 $389,000 $383,500
10 Peach Tree Ln, Danvers, MA 3 2 $419,500 $425,000
14 Chester St, Danvers, MA 4 2.5 $439,900 $412,000
40 Ledgewood Rd, Danvers, MA 4 1+2 $529,900 $500,000
186 Dayton St, Danvers, MA 3 3.5 $659,900 $620,000
86 Collins St, Danvers, MA 3 2 $199,500 $200,000
11 Cottage Ave, Danvers, MA 4 1 $209,900 $204,000
42 Garden St, Danvers, MA 3 1 $239,900 $239,900
89 Elliott St, Danvers, MA 3 1.5 $269,000 $260,000
17 Andrews St, Danvers, MA 3 2 $274,900 $265,000
4 Abbott St, Danvers, MA 4 1 $289,000 $280,000
49 Central St, Danvers, MA 3 1 $312,500 $306,000
65R Collins St, Danvers, MA 3 2 $319,900 $319,000
8 Larrabee Ave, Danvers MA 5 2 $330,000 $320,000
37 Winthrop St Ext, Danvers, MA 3 1.5 $335,000 $329,000
15 Lindall St, Danvers, MA 3 1.5 $349,000 $349,000
14 Putnam Ln, Danvers, MA 3 2 $358,400 $354,900
283 Locust St, Danvers, MA 3 1.5 $369,900 $363,000
8 Rowell Rd, Danvers, MA 4 2.5 $429,900 $423,000
22 Overlook Dr, Danvers, MA 4 2.5 $469,900 $430,000
15 Thomas Rd, Danvers, MA 3 2.5 $475,000 $469,000
4 Thomas Rd, Danvers MA 4 3.5 $519,900 $510,000
9 Delaware Ave, Danvers, MA 4 2.5 $529,900 $529,900
         
Condominium        
4 Mcdewell Ave #18, Danvers, MA 2 1 $129,900 $125,000
11 Riverside Ave #6, Danvers, MA 2 1 $164,900 $160,000
33 Water St #28, Danvers, MA 2 2.5 $309,888 $309,888
134 Village Post, #134, Danvers, MA 2 3.5 $310,000 $297,000
42 Abington Rd, Danvers, MA 3 2.5 $319,900 $310,000
152 Water St. #10, Danvers, MA 2 2 $359,900 $359,900
152 Water St. #9, Danvers, MA 2 2.5 $432,000 $432,000
4 McDewell Ave #15, Danvers, MA 1 1 $99,000 $96,500
6 McDewell Ave #7, Danvers, MA 2 1 $165,000 $150,000
6 Abington Rd #6, Danvers, MA 2 2 $239,900 $235,000
13 Carriage Way, Danvers, MA 2 2.5 $259,500 $225,000
4 Oak St #1, Danvers, MA 4 1.5 $279,900 $279,900
116 Village Post Rd, Danvers, MA 2 2.5 $289,900 $275,000
152 Water St #11, Danvers, MA 2 2 $500,000 $504,800
         
Multi-Family        
123 Pine St, Danvers, MA 2 Unit $318,888 $270,000
21 Clark St, Danvers, MA 2 Unit $329,000 $299,000
5-5R Pickering Ct, Danvers, MA 2 Unit $340,000 $320,000

 

This representation is based in whole or in part on data supplied by our MLS partners. These entities neither guarantee nor are responsible for data accuracy. Data maintained by MLS may not reflect all real estate activity in the market.

]]> http://blog.windhillrealty.com/2011/07/14/danvers-real-estate-what-sold-in-june-2011/feed/ 0 Wenham Real Estate-What Sold in June & July 2011? http://blog.windhillrealty.com/2011/07/14/wenham-real-estate-what-sold-in-june-2011/ http://blog.windhillrealty.com/2011/07/14/wenham-real-estate-what-sold-in-june-2011/#comments Thu, 14 Jul 2011 15:32:56 +0000 jmeuse http://blog.windhillrealty.com/?p=2378

 

Address #BR #BA List $ Sale $
Single Family        
101 Maple St, Wenham, MA 3 1 $299,000 $299,000
194 Topsfield Rd, Wenham, MA 3 1 $384,900 $370,000
67 Walnut Rd, Wenham, MA 6 4.5 $1,100,000 $1,050,000
7 Longfellow, Wenham, MA 2 1 $239,000 $235,000
1 Monument St, Wenham, MA 4 3.5 $819,900 $805,000
         
Condominium        
204 Old Country Rd, Wenham, MA 2 1.5 $229,900 $210,000
810 Old Country Rd, Wenham, MA 2 2 $379,000 $380,000
         
Multi-Family        
27 Burley St, Wenham, MA 2 Unit $299,900 $292,000
         
Land        
150 Cherry St, Wenham, MA 4.48ac Res $299,000 $285,000

 

This representation is based in whole or in part on data supplied by our MLS partners. These entities neither guarantee nor are responsible for data accuracy. Data maintained by MLS may not reflect all real estate activity in the market.

]]> http://blog.windhillrealty.com/2011/07/14/wenham-real-estate-what-sold-in-june-2011/feed/ 0 Hamilton Real Estate-What Sold in June & July 2011? http://blog.windhillrealty.com/2011/07/14/hamilton-real-estate-what-sold-in-june-2011/ http://blog.windhillrealty.com/2011/07/14/hamilton-real-estate-what-sold-in-june-2011/#comments Thu, 14 Jul 2011 15:31:32 +0000 jmeuse http://blog.windhillrealty.com/?p=2376

 

Address #BR #BA List $ Sale $
Single Family        
126 Highland St, Hamilton, MA 3 2 $149,000 $150,200
147 Highland St, Hamilton, MA 2 1.5 $219,000 $193,500
1 Paddock Ln, Hamilton, MA 4 2 $359,000 $349,000
9 Pine St, Hamilton, MA 5 3.5 $689,000 $663,000
58 Rust St, Hamilton, MA 4 1 $219,900 $210,000
8 Bradford Rd, Hamilton, MA 3 2 $360,000 $345,000
331 Essex St, Hamilton, MA 3 2 $395,000 $367,500
60 Hamilton Ave, Hamilton, MA 3 2 $425,000 $405,000
74 Blueberry Ln, Hamilton, MA 5 2.5 $475,000 $435,000
54 Alan Rd, Hamilton, MA 4 2 $499,000 $465,000
5 Madonna Dr, Hamilton, MA 4 3.5 $508,000 $506,000
23 Meyer Rd, Hamilton, MA 4 2 $649,000 $640,000
14 Griffith Rd, Hamilton, MA 3 3 $749,000 $729,000
4 Tally Ho Dr, Hamilton, MA 4 3.5 $765,000 $740,000
36 Moulton St, Hamilton, MA 4 3.5 $798,000 $730,000

 

This representation is based in whole or in part on data supplied by our MLS partners. These entities neither guarantee nor are responsible for data accuracy. Data maintained by MLS may not reflect all real estate activity in the market.

]]> http://blog.windhillrealty.com/2011/07/14/hamilton-real-estate-what-sold-in-june-2011/feed/ 0 Rowley Real Estate-What Sold in June & July 2011? http://blog.windhillrealty.com/2011/07/14/rowley-real-estate-what-sold-in-june-2011/ http://blog.windhillrealty.com/2011/07/14/rowley-real-estate-what-sold-in-june-2011/#comments Thu, 14 Jul 2011 15:29:24 +0000 jmeuse http://blog.windhillrealty.com/?p=2374

 

Address #BR #BA List $ Sale $
Single Family        
503 Haverhill St, Rowley, MA 3 1 $184,950 $157,000
31 Christopher Rd, Rowley, MA 3 1 $329,900 $329,900
177 Boxford Rd, Rowley, MA 3 2.5 $449,900 $442,000
17 Arrowhead Cir, Rowley, MA 4 2.5 $504,900 $499,000
194 Leslie Rd, Rowley, MA 3 1 $129,000 $100,000
7 Circuit Dr, Rowley, MA 3 2.5 $334,900 $324,900
64 Pleasant St, Rowley, MA 4 2 $399,900 $388,500
125 Daniels Rd, Rowley, MA 4 3.5 $579,900 $550,000
23 Homestead Ln, Rowley, MA 3 2.5 $589,900 $560,000

 

This representation is based in whole or in part on data supplied by our MLS partners. These entities neither guarantee nor are responsible for data accuracy. Data maintained by MLS may not reflect all real estate activity in the market.

]]> http://blog.windhillrealty.com/2011/07/14/rowley-real-estate-what-sold-in-june-2011/feed/ 0 Are You Getting Your Money’s Worth? http://blog.windhillrealty.com/2011/06/30/are-you-getting-your-moneys-worth/ http://blog.windhillrealty.com/2011/06/30/are-you-getting-your-moneys-worth/#comments Thu, 30 Jun 2011 17:16:53 +0000 jmeuse http://blog.windhillrealty.com/?p=2350

Buying or selling a home is one of the most complicated, expensive transactions most people will ever have to go through. Many go to the closing table without an advocate by their side. Having a professional represent your interests is critical.  A good place to start is to hire a REALTOR®. Not all real estate professionals are created equally. Selling real estate for a living doesn’t make you a REALTOR®.  Only members of the National Association of Realtors can call themselves REALTORS®.

Being a REALTOR® means you subscribe to a very specific code of conduct.  The preamble to our National Association of Realtors Code of Ethics sets a high standard for brokers and agents: “The term REALTOR® has come to connote competency, fairness, and high integrity resulting from adherence to a lofty ideal of moral conduct in business relations. No inducement of profit and no instruction from clients ever can justify departure from this ideal.”

The industry manifests these principles in the articles of the Code of Ethics and Standards of Practice and the promotion of educational standards–each evolving with changes in the marketplace. More importantly, it also encompasses the personal responsibility accepted by individual REALTORS® to adhere to these ideals.
Choose your real estate professional wisely. Make sure the office hires only REALTORS® and definitely make sure the agent you hire is a REALTOR®. Here at Windhill, every advisor is a REALTOR® and we all take the REALTOR® Code of Ethics very seriously.
]]> http://blog.windhillrealty.com/2011/06/30/are-you-getting-your-moneys-worth/feed/ 0 Legal Insider – Foreclosure? Are You Sure? http://blog.windhillrealty.com/2011/02/15/legal-insider-foreclosure-are-you-sure/ http://blog.windhillrealty.com/2011/02/15/legal-insider-foreclosure-are-you-sure/#comments Tue, 15 Feb 2011 16:41:02 +0000 jmeuse http://blog.windhillrealty.com/?p=2049

Atty. Richard M. Kallman

While most prospective purchasers of foreclosed properties or current owners of properties that were foreclosed upon in the last few years may be aware that the federal government has pressured lenders to slow down their pending foreclosures to be sure they are following the legal requirements of the states where the properties are located, most people don’t realize the severity of the foreclosure crisis that is currently developing.  A ruling by the Massachusetts Supreme Judicial Court (Ibanez vs. USBancorp.) just a few weeks ago will result in the complete invalidation of many of the 44,000 foreclosures conducted in Massachusetts since 2005.  Boston Globe reports. The Supreme Court upheld a decision by the Massachusetts Land Court that invalidated two foreclosures because neither Wells Fargo nor US Bank were the record holders of the mortgages at the time they conducted foreclosures on residential homes in Springfield, Massachusetts. OOPS!   The effect of this decision is that the homeowners who subsequently purchased those properties from Wells and US Bank do not have good and marketable title to those properties.  Unfortunately, the procedures followed by US Bank and Wells Fargo were commonplace by many foreclosing lenders over the last several years. YIKES! In those cases similar to Ibanez, homeowners will be unable to sell or refinance their homes until there is a resolution proposed by the judicial system or the legislature. Secretary of State William Galvin seeks to ease the uncertainty following the SJC ruling.

For those of you who own a home that was foreclosed upon since 2005, I urge you to consult with an experienced real estate attorney to determine if you have good title to your home.  And for those of you considering making an offer to purchase a home that was foreclosed upon, you should consider seeking the advice of legal counsel before you even make an offer.  At a minimum, your offer should contain the right to conduct a title examination prior to signing a purchase and sale agreement just as you would obtain a home inspection.  Prospective buyers and sellers need to determine at the start of the home buying process whether the current owner has the ability to sell the home.  Failure to conduct a thorough title examination and have it reviewed by an experienced real estate attorney could result in wasted time and money being spent by both parties before a defect in the foreclosure process is discovered just prior to closing.

The effects of the Ibanez decision are far reaching and title to any home foreclosed in the last several years is suspect.  Do your due diligence before making an offer or listing a home that was foreclosed.

Legal Insider Content Contributed by Attorney Richard M. Kallman. Contact Atty. Kallman at 978-356-2934 or rich@kallmanlaw.com.

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