Unfortunately, real estate agents are only as good as the information with which they are provided. Because information is missing or inaccurate doesn't necessarily mean the agent is at fault. This is why the bottom of each MLS page there is a disclaimer stating, " Information deemed reliable but may not be correct. Buyer should verify."
Additionally, buyers can find themselves in a position that leaves them so close to being "upside down" that the listed price does not merit "short sale" disclosure. It is fairly common for some homes to begin as regular sales but through negotiations, end up being "short sales".
The issues you have pointed out could be accidental or harmless but indeed should be checked out further by you and other potential buyers. Known short sale transactions do need to be disclosed on the MLS but being in "default" does not.
Hope this is helpful.
The link below takes you to HUD, where you can see all approved condos in New York. I'm wondering why you can't go Conventional? FHA is a bit more lenient than Conventional when it comes to down payment and reserves. But if you can swing a 5% down payment and manage to have a couple months reserves, you have a possibility of getting in a Conventional loan. I have closed several clients in recent months who have purchased condos with a 5% down payment Conventional loan.
Would need to look at the credit and see if that works as well, among other things. But it's def possible. Speak to the loan officer who pre-approved you and see what they can do. Good luck!
Senior Loan Officer
Sterling National Bank
Necessary, no. You certainly could work with the selling agent yourself.
Ideally, you'd start out with a buyer's agent, but to bring one in now is probably a wash. Unless they have some experience with that particular co-op, in which case they may be quite useful and helpful.... more
I don't have a crystal ball. Nobody knows what's going to happen exactly. There could be a better price. Or maybe not. Here are some additional questions to help you: How many similar units are in the area? How often do they come on the market? At what price? Bottom line - Do you want to buy, or do you want to look? Now is a good time to buy in most markets, assuming you will stay for a while. Anytime is a good time to look. Real Estate goes in cycles. What is the local cycle? 5 years? 10 years? Get a good buyer's agent to help you look at the local trends.... more
Although it appears that the monthly rent may be a misprint, if interested in the unit click on the contact the agent tab, under it's description-- or any local agent can help you, contact any realty office and inquire.... more
20% w/i next 5 years!!! When did Zack say this?? I think most people in our profession would strongly disagree with this. A 20% drop over a 5 year period would be devastating for NY and surrounding areas. 7-8% maybe and a few of these %'s have already been given up.
The Schaffer Realty Group