Home Buying in Howard Beach>Question Details

Janet Iadanza, Home Buyer in Queens, NY

I am purchasing a co-op in Howard Beach for $150,000 (2 bedrooms, 1 bath, terrace) with 10% down. I will be

Asked by Janet Iadanza, Queens, NY Fri Jul 25, 2008

meeting with my attorney in a few days, and I have a question. I was told to be prepared to give the downpayment ($15,000) at this first meeting. I thought that I would review the contract, add anything that I felt needed to be added (i.e., a contingency clause), it would at that point go back to the seller, and, once approved by them, I would at that point give the downpayment. Am I totally misunderstanding the process? Please advise.

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Dallas Agent: Attorneys are used for real estate transactions in NY.
2 votes Thank Flag Link Fri Jul 25, 2008
The Hagley G…, Real Estate Pro in Pleasanton, CA
you don't have to put the whole down payment at contract signing...We bought our co-op in HB as well las year, at first we put 10% down, but then we couldn't get the mortgage insurance and had to pay another 10%, which we paid at closing...
0 votes Thank Flag Link Sun Mar 21, 2010
I am a broker in Howard Beach, what co-op is 10% down? You do not need the entire down payment until closing, usually you would put down 5k 0r 10k " at contract signing" the balance is due at closing. yuo can call me at 718-208-7011
0 votes Thank Flag Link Thu Dec 17, 2009
Never purchase a home without a real estate agent. It will prevent problems. . If you work positively with a real estate agent I am assured solutions to all of your questions could be resolved. http://www.lynn911.com http://www.homes-for-sale-dallas.com
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0 votes Thank Flag Link Fri Jul 25, 2008
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