David reiss professor of law at brooklyn law school

#David reiss professor of law at brooklyn law school how to
#David reiss professor of law at brooklyn law school professional

Professor Reiss is a frequently quoted expert on legal developments in the real estate finance sector.

#David reiss professor of law at brooklyn law school how to

HeВ is the author of the forthcoming book on federal housing policy, Paying for the American Dream: How to Reform the Market for MortgagesВ (Oxford University Press, 2020). His scholarship focuses on the secondary mortgage markets, predatory lending, and housing policy. He is a member of the American Law Institute and is a Fellow of the American College of Real Estate LawyersВ and the American Bar Foundation. Professor Reiss is currently Chair of the New York City Rent Guidelines Board. He is actively involved within the Law School community, currently serving as Research Director of the Center for Urban Business Entrepreneurship (CUBE). He is the founding director of the Community Development ClinicВ and teaches property-related courses. Can you bring it up with the seller? After all, sellers are requiredВ to disclose any known issues about the home.Professor Reiss concentrates on real estate finance and community development. No matter how many precautions you take, the nightmare scenario does happen: You move in and then discover a problem. Uh-oh! YouвЂ™ve closed, but thereвЂ™s a problem

Some home buyersВ evenВ take the process into theirВ own hands and hire drones or robots to view inaccessible areas. Urge the home seller to remove all barriers that might prevent an inspector fromВ doing a thorough job. вЂњThat serves to absolve the inspector of any liability,вЂќ Pellegrini says. Robert Pellegrini Jr., president of PK Boston, a real estate law firm based in Boston, says a typical red flag disclaimer on the inspection report is a statement that there was a problem with вЂњaccessвЂќ to roofs, eaves, and areas behind locked or blocked doors or crawl spaces. What to look out for in a home inspection

A report complete with pictures is provided.

The inspector actually enters attic and crawl spaces.

Major systems (air conditioning, heating, water, etc.) are tested.

The inspector is working off a checklist of items that was in the contract.

Here are some things to watch for during the inspection: вЂњItвЂ™s a buyerвЂ™s job to make the most of the home inspection,вЂќ says Bryant Dunivan Jr., a real estate and consumer protection attorney in Brandon, FL. Why buyers should attend the home inspection At the very least, make sure the limit exceeds the costВ of theВ inspection alone. вЂњIdeally, you would not want there to be any limit on the inspectorвЂ™s liability in case he or she was negligent in doing the inspection,вЂќ says Reiss. David Reiss, professor of law at Brooklyn Law School, says some contracts will state that the company is liable only for the cost of the inspection, which wonвЂ™t be much solace if you find yourself on the hook for repairs that couldВ cost hundreds of thousands of dollars. You also want to closely examine the terms of theВ liability insurance. If you want to be extra safe, you can call the insurance agency of the inspection company to confirm the coverage on the certificate is still valid. This is what would potentially coverВ you as a buyer if there was a major вЂњmissвЂќ on the part of the inspection.

#David reiss professor of law at brooklyn law school professional

Keith Balsiger, president of Balsiger Insurance in Las Vegas, says buyers should ask for a current certificate of insurance that shows the inspection company has both general liability insurance and professional liability insurance (also known as errors and omissions insurance). Make sure you chooseВ a firm that has been in the residential inspection business for a while andВ has a strongВ reputation (real estate agents and lenders often have recommendations).Д«ut most important, your home inspector should have adequate insurance. As such, the most important step home buyers can take to prevent that scenario is to select a reputable inspection company.

Sadly, thereвЂ™s no insurance home buyers can take out to protect themselves from a faulty inspection.