Q: As the buyer broker, can I accept compensation from the seller that exceeds the amount agreed upon with the buyer?
A: No, buyer brokers cannot accept compensation from any source that exceeds the amount agreed upon between the buyer broker and the buyer.
If the parties wish to change the terms, they can create a new or amended buyer agreement, in which both the buyer and the buyer broker agree to the updated terms for a new rate. If no amendment is made, any excess payment will be returned to the source.
Q: If my seller client is a full-time resident of Massachusetts, do they still have to complete the Transferor’s Certification form?
A: Yes, for every sale or exchange of Massachusetts real estate when the gross sales price is $1,000,000 or more, each seller must complete a Transferor’s Certification (PDF) and give it to the withholding agent on or before closing. The withholding agent will use this information to file a return. This form and the return must be completed even if no amount of withholding is collected. The certification must be completed even if the seller is a full-time resident of Massachusetts.
Full-time residents will be able to indicate on the form that they are exempt from withholding, and no withholding will be required.
Q: Can a landlord access an apartment without permission if notice is given?
A: A tenant has the right to occupy their apartment, and a landlord can only enter under specific circumstances. Per the State Sanitary Code, landlords must provide 48 hours’ notice before accessing the property to ensure compliance with the Code.
The landlord must coordinate with the tenant in advance to enter the apartment for purposes such as making repairs, inspecting the condition of the apartment, or showing it to prospective tenants, buyers, or real estate agents.
However, a landlord may enter an apartment without the tenant’s approval in cases of a mechanical or repair emergency that could potentially damage the entire building, or if it appears that the tenant has abandoned the apartment.
Lastly, we recommend reviewing the lease agreement to understand the scope of the landlord and tenants’ rights regarding accessing the premises and the notice requirements that must be followed.
****************************************************************************
Services provided through the Massachusetts Association of REALTORS® is intended for informational purposes and does not constitute legal advice, nor does it establish an attorney-client relationship. The Massachusetts Association of REALTORS®, by providing this service, assumes no actual or implied responsibility for any improper use of responses to questions through this service. The Massachusetts Association of REALTORS® will not be legally responsible for any potential misrepresentations or errors made by providing this service. For more information regarding these topics authorized callers should contact the MAR legal hotline at 800-370-5342 or e-mail at legal@marealtor.com.