Otis Duffy

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Real Estate Broker/Owner - Centum Real Estate Group - Lic #10401249650
RECENT BLOG POSTS
I recently went to a seminar on Deleware Statuatory Trusts. This is a great alternative to the standard 1031 transaction where you have 45 days to identify the property and 180 days to close.With a Deleware Statuatory Trust (DST) not to be confused with my other blog about Deferred Sales Trust (D...
10/22/2015
The "Truth in Renting" The landlord is required to give a copy of the current statement to each tenant when a lease is entered into, and to make available the current statement in the building where the tenants can easily find it.  The landlord should keep documentation or receipts verifying dist...
10/18/2015
Just watched the movie "99 Homes" by Director: Ramin Bahrani. Excellent movie showing how foreclosure affected so many people and some of the fraud that it caused.  I had some experience with the "cash for keys" with the banks that were involved with property preservation.   This 2008 foreclosure...
10/18/2015
This is a very interesting topic of discussion that can go into several other legal areas.  I write this blog pertaining to the state of New Jersey as laws are different from state to state.  I would be interested to hear other member’s thoughts about the subject matter.It is well documented that...
10/18/2015
All real estate salespersons are familiar with the infamous Error & Omission Insurance (E&O).  Some real estate brokerages charge us for the benefit of having this insurance than is very important to have in this litigious world we live in.How many real estate agents have actually visually saw th...
10/18/2015
A lot of real estate professionals look to raise capital to invest in real estate.  I have personally witnessed this so many times where individuals try to raise money without using a PPM which is legally required.  I went to a meetup in NYC where the real estate broker said his attorney had advi...
10/18/2015
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Centum Real Estate Group100% Commissions/Real Estate Agents-Commercial & Residential Platform. Centum Real Estate Group, a NY and NJ State commercial & residential investment real estate brokerage company, currently offerring licensed real estate broker-salespersons and salespersons. We offer our...
10/18/2015
How many times have you heard, these comments as a "broker"?“If I sell my property I am going to get killed with taxes?”Those of us who own highly appreciated assets such as homes, commercialreal estate and businesses, are often reluctant to sell that asset because ofthe capital gain tax and depr...
10/18/2015
It always amazes me how many times I hear from random individuals that they have a "real property" to sell and they are looking for a buyer, and then to be compensated.  When questioned they will respond I am not acting as a real estate broker but a "consultant".   If it were that easy then why h...
10/18/2015
The issues are with commercial real estate as well as residential real estate.  The commissions in commercial can be a lot larger making it easier to justify the circumventing of the broker.  Commercial sellers are usually reluctant to give Exclusive Right to Sell Listings making it very difficul...
10/18/2015
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Otis Duffy

Otis Duffy Centum Broker of Record NY & NJ
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