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What Laws Are Impacting Grand Rapids Area Residents

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Tag: Real Estate

A loophole got him a free New York hotel stay for five years.

February 19, 2024

A loophole got him a free New York hotel stay for five years. Then he claimed to own the building

A man who succeeded in using a New York City housing law to live rent-free in the iconic hotel has been charged with fraud after he claimed to own it.

Read more at AP News

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Home brokerage Keller Williams to pay $70 mln in antitrust settlement

February 1, 2024

Home brokerage Keller Williams has agreed to pay $70 million as part of a settlement to resolve claims that it conspired to overcharge U.S. home sellers by billions of dollars on the commissions they pay to agents for buyers.

Read more at Reuters

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Housing-related zoning amendments recommended

January 26, 2024

Housing-related zoning amendments recommended by GR Planning Commission

The amendments— parsed into five categories— primarily serve to increase housing supply, in accordance with a recent update to the city's Housing Needs Assessment, which states a need for 14,106 new housing units by 2027 (an average of 2,831 per year, a pace not currently being met).

Read more at Fox17

US flags early 2024 for new rule targeting real estate money laundering

December 12, 2023

The proposal, which FinCEN was previously slated to unveil this year, is expected to require real estate professionals report the identities of the beneficial owners of companies buying real estate in cash to the regulator. Anti-corruption advocates have been pushing for years for regulators to close a loophole they say allows criminals to hide money in U.S. real estate.

Read more at yahoo! Finance

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Real estate industry facing pushback to agent commissions on home sales

November 7, 2023
Real estate industry facing pushback to longstanding rules setting agent commissions on home sales
A series of court challenges seek to upend longstanding real estate industry practices that determine the commissions agents receive on the sale of a home — and who foots the bill.
A federal jury in one of those cases ordered the National Association of Realtors along with some of the nation's biggest real estate brokerages to pay almost $1.8 billion in damages, after finding they artificially inflated commissions paid to real estate agents.
Read more at Click On Detroit
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MSHDA Expands Access to $10,000 Down Payment Assistance Program

May 23, 2023

The Michigan State Housing Development Authority will expand its MI 10K DPA program statewide, helping low and middle-income homebuyers overcome the biggest barrier to home ownership: the down payment. The program was previously offered exclusively to 236 zip codes, but is now available throughout the state.

Read more at Michigan.gov

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Turning Low Stock Prices Into a Plus for Estate Planning

March 15, 2023

Future Returns: Turning Low Stock Prices Into a Plus for Estate Planning

A bear market in stocks may be painful, but it can create the right circumstances for estate planning.

Read more at Barrons

WhyShould Visit A Real Estate Lawyer Before Buying An Office

October 12, 2022

5 Reasons You Should Visit A Real Estate Lawyer Before Buying An Office

Whether you’re buying or selling an office, you should think about hiring an attorney for your next real estate transaction.

Read more at Legal Desire

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What Does A Real Estate Attorney Do?

August 8, 2022

You might need a real estate attorney for certain transactions, or a real estate lawyer, to navigate all the necessary legal requirements. They can also help you avoid potential landmines, so that you can protect your real estate investment.

Read more at: Forbes.com

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Homeowners offered cash for 40-year right-to-sell contract

July 29, 2022

It’s not illegal - It’s a 40-year contract, and even if you die, whomever inherits your home is also locked in with MV Realty.

Read More at: WoodTV Target8

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