All Forum Posts by: Tinah Canda

Hi BP community, my name is Tinah and I'm a newbie investor in Worcester County, MA. I need some direction on how to handle a deal that has gone insanely wrong.

I made an offer on a 100-year old house for rental. My realtor and lawyer advised me that I don't need to inspect for lead and I believed them. Until I found online what the lead laws state in MA - no child under six is allowed to live in an apartment without a deleading certificate. 

After fruitless renegotiation, I decided to back out of the deal knowing I can lose my deposit. The lender was able to provide me a denial letter. Seller's attorney called my lender and bullied them into redacting the denial letter they provided. And now, seller's attorney is intimidating me into working with his client to close the deal or settle by agreeing that the deposit is now non-refundable or litigate and collect liquidated damages.

I don't have any support from my existing realtor and lawyer, they are just regurgitating whatever the seller's team says. 

Is this intimidation typical?

What happens in litigation? What are the potential consequences a buyer faces during a litigation? I thought in MA realtors can not force a buyer to buy but they can lose their deposit. What liquidated damages are they referring to?

Need some help, thank you in advance.

@Derreck Wells, Trump style. : )

I did a little research about firing an agent and it turns out, you're right you can fire them anytime. However, in my case if I do, he is still going to get paid. It seems it's not going to help me at this point.

Yes @Jonathan R McLaughlin he is the closing attorney and the realtor chose him for me.

The place is in good condition, it still needs work though, the seller's realtor offered to take off a few more thousand dollars to close the deal. Who performs the interim control? Would it be the lead abatement specialist too? What's the estimated cost of the project?

Going forward on this transaction, my current realtor and lawyer are useless. They just let the seller's team walk all over me. Somebody suggested I should fire them both. Can I? How does one go about firing the realtor and lawyer?

Thank you @Derreck Wells for sharing your expertise and educating us.

Thank you @Jonathan R McLaughlin. Yes, I need to get a decent lawyer and realtor who will do what they are supposed to do, watch out for their client's interest.

@Account Closed

Derreck Wells would have the better answer to that question. From my readings, I think you mean encapsulation, there is a specific paint that can encapsulate lead paint. State does not consider it encapsulated unless that specific type of paint was used.

I also read (memory might fail me) that properties built before 1978 have to get lead inspection before starting renovations. From a medical standpoint that makes sense because when you agitate those surfaces, it would release the lead in the air and expose people around the site. That's my understanding of the laws and regulations so far.

@Jonathan R McLaughlin

Thank you for that link. I may have inadvertently signed that disclosure but my agent did not tell me that clause about deleading or controlled within 90 days when a child is involved. Seller's agent said it was covered and he showed a lead disclosure signed by tenant. That's it.

In fact, when I asked him after the P&S when I learned about that law, he told me deleading would be the dumb move because there are smart ways of going about it by doing some work before getting lead inspection (this can lead to a violation). I should not worry about deleading.

@Lynn McGeein

MA lead laws require lead disclosure to tenants which the seller provided. However, also with children under six, law states that no child shall live in apartment without deleading certificate. So, essentially as a landlord in MA - you are required to delead when child resides in the apartment.

@Matt Devincenzo

I think I am still in DD, my lender was able to give me a denial letter. Seller's lawyer was threatening lender and saying that the denial letter was not really a denial. It's apparent that they do not want to give my deposit and earnest money back.

My next option it seems is to litigate.

@Jonathan R McLaughlin

I can see why the sellers are doing what they are. My mistake is I did not have all the information I needed regarding lead laws in MA. Yes, definitely everyone - the seller and my team are looking at me as if I am overreacting and blaming me for missing this.

Another thing I have learned though is this - buyers in MA are entitled to 10 days to complete inspections. Another attorney pointed out to me that I was only given 4 days. Realtors and lawyers are supposed to ensure that their client gets this.

It would have been helpful if I were informed of this additional cost so I could have factored it into my analysis. This property is not going to cash flow with the lead expenses.