The High Road: Beware of pinball effect

One way to try and hoodwink buyers is for their broker representatives to provide a false reality check.

I hadn’t heard the phrase “pinballing” before reading in account of the tactic by Kenneth R. Harney in the Washington Post.  He defines it this way: Continue reading

Weekly roundup of news you may have missed

Here’s your chance to catch up with news and information included to inform, enlighten and perhaps even entertain you.  To read about The Big Apple, check out another of today’s three posts.


A SPORTS STAR WANTS TO JETTISON HIS CONDO

SHE’S MOVED TO COOPER SQUARE WITH A DOG WHO’S NOT A VAMPIRE

ONE OF TIGER’S PETS LANDS A PARK AVENUE PAD

DID A MEATHEAD BUY THIS APARTMENT?

HIS UNSOLD PROPERTY MUST HAVE HIM SINGING THE BLUES

FASHIONISTA STEPS INTO NEW APARTMENT ON LADIES MILE


JULY SALES OF PREVIOUSLY OWNED HOMES PLUNGE, SUPPLY SOARS Continue reading

Pending rules aim to hold lenders to their word

A form that everyone in the real estate world knows as a HUD-1 details every cost to the seller and buyer at settlement.

The law requires that the lender furnish the form at least a day prior to closing, but there is no penalty for their failure to comply.

In most jurisdictions, lenders struggle to provide the form in time and almost invariably do so.  In Manhattan, however, the law is overwhelmingly more honored in the breach than in the observance of its requirements.

Around a closing table last week, Continue reading