Home Buying in 11232 : Questions & Answers

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Mitchell Fel…, Real Estate Pro in Brooklyn, NY
Mitchell Feldman answered:
Appraisal value lower than offer
Dear Caitlinkerker:

Basically, when the appraisal comes in short, the bank will refuse the loan thus giving the buyer the legal right to cancel the deal and get their down payment ba ... more
0 votes Share Flag Wed Dec 4, 2013 Home Buying in 11232
Jose Garcia, Real Estate Pro in Brooklyn, NY
Jose Garcia answered:
Why do banks want to know how many units in a co-op are owner occupied vs. rented out?
In addition to owner occupied, the maintenance is base on the prices that owner occupied verse tenant occupant because the lower the maintenance also plays a role in the price the build ... more
0 votes Share Flag Mon Jul 29, 2013 Home Buying in 11232
Robin Silver…, Real Estate Pro in Garden City, NY
Robin Silverberg answered:
do I need to have a 10% down payment to buy a building in my neighborhood? Do banks ever offer a loan to someone with 5%?
Small correction Rhonda, that is 1-4 family. 5 or more is commercial. And yes, commercial generally requires at least 25% down.
0 votes Share Flag Fri May 4, 2012 Home Buying in 11232
Rhonda Holt, Real Estate Pro in Brooklyn, NY
Rhonda Holt answered:
What is the difference between a Co-Op and a Condo?
I'm known as the co-op and condo queen in my office, feel free to check out my website that explains the differences and payment structure.

If you have any questions or you� ... more
0 votes Share Flag Tue Jan 4, 2011 Home Buying in 11232
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