Real Estate legal matters

Should I Stay or Should I Go Now? Choices Facing Sellers With Crumbling Basements

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Sellers are facing life changing decisions as they navigate the crumbling basement epidemic plaguing their homes and their neighbors.  Many homeowners with homes just 10-15 years old are testing positive for pyrrhotite via a core test or a visual inspection and are undecided about what to do next.  Some owners can stay and hope for more [...]

Crumbling Basements by the Numbers

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The annual report and audit report for Connecticut Foundations Solutions Idemnity Company (CFSIC) was published recently on the CFSIC website and it is chock full of information and some great infographics that convey the information in a concise and easy to read  format.  Here are some takeaways:

40 Number of Northeast CT towns affected

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Animal House. So You're Thinking of Becoming a Landlord!

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Multi-family or single family investment real estate can bring in nice returns to your investment portfolio.  Some investors make it look easy.  Others claim that they will never do it again.   Investment real estate comes with inherent risk that you should be aware of and it’s not the easiest way to make money.   What should your consider [...]

Concrete Aggregate: The Latest in Crumbling Basement News

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This is a Cliff Notes version of concrete news.  I encourage everyone to read up on this subject as it will eventually affect all homeowners in at least central and eastern CT and MA.  The best sources are [...]

Crumbling Concrete Catch Up: Tolland School Foundation Failing And A Plethora of Proposed Bills

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Tolland needs to replace the crumbling foundation at the Birch Grove Elementary School sooner rather than later and hope to start construction in 2020.   The section built in 1999 is showing much more deterioration than the section built in 2003 so they hope to complete the repair in two phases, using temporary or portable classrooms during [...]

When Size Matters. Your Credit Score and How To Improve It

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Your credit score can range between 200 and 850.  The higher number here the better.  If you want to apply for a mortgage you should shoot for 620 or above.  You could pay up to 1% more for a lower [...]

Crumbling Credit Scores: Proposed Bills Seek to Alleviate Credit Hit to Underwater Homeowners

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Testimony was accepted in the public hearing held February 7th on bills proposed to aid victims of crumbling foundations.  Two of the bills involve the protection of homeowners with crumbling basements who are at risk of having their credit negatively impacted via a deficiency judgment under many scenarios.  There was no surprise in who [...]

Concrete Heat: CFSIC Launch Date, Recent Court Cases, Amended Real Estate Disclosures, Traveler's Insurance Steps Up

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The Connecticut Foundation Solutions Indemnity Company (CFSIC) has announced a new launch date of January 10, 2019 for claim applications for Type 1 and Type 2 repairs.  After a robust comment period there were changes made to the original underwriting and claims management [...]

Crumbling Basement Captive Insurance Launch Delayed Due to Volume of Public Comments

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The launch date of the CT Foundation Solutions Idemnity Corporation Inc (CFSIC) website will not occur as expected on November 15.   According to the update the postponement is expected to be about thirty days and the new launch date will be announced on the CFSIC website.  [...]

The FSBO: For Sale But Overwhelmed

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The FSBO- For Sale But Overwhelmed

Sell your home yourself, it makes perfect sense.  How hard can it be and it will save you at least the commission to the listing agent.  Depending on your sales price, that could save you a nice chunk of your net proceeds.  I mean how hard can it be?  My neighbor moonlights as a real estate [...]