Generally as a buyer representation is at no cost to you; the seller pays commission at closing out of the proceeds of the sale; if two agents are involved the fee is shared; unless you have an agreement with your agent to pay above what the seller is already offering.... more
Hi Ana, Just closed on a 2 br 1.5 ba in Southridge Section 2- no problems...as long as you qualify you are a shoo- in. If you are looking for a 1 bedroom- I have totally gut renovated gorgeous apartment facing front of the building, recessed lighting, granite counter and SS appliances, new tiled bath, hardwd flrs. Income req cash $53K 2 people, financing $60K. Great area 4 blocks to #7 train, 1 blk to Northern Blvd for buses. It iis located at 33-45 90th St, if you would like more info Terry K 718-614-3167 or email TKorahais@elliman.com... more
Your first step should be to meet a local and trusted loan officer who can prequailify you at no cost and let you know if you quailify for a program to purchase this. They can break down the pros, cons and costs... more
Jackson Heights has a wide variety of housing stock including post and pre-war buildings and historic properties such as row homes, English style garden homes, garden co-ops and condominiums. The prices vary greatly depending on what type of property you are looking for and what your needs are. Please feel free to look at my website for more information about Jackson Heights. If you have any questions please feel free to contact me.... more
Keep in mind that most co-op boards do have their own financial and debt criteria, etc., that must be met in order to purchase, therefore make sure you would qualify board's requirements, if interested in a particular complex, before looking for a loan--unless you are interested in a sponsor unit, therefore no board approval necessary; did the loan officers suggest what needed to be done in order to qualify for a loan, was it a credit problem....if you would like a recommendation for other loan officers that may be able to help, feel free to contact me directly...... more
I think you will probably find that you'll have better luck outside of the city at this price point. So your goal should be to align yourself with agents if the areas you identify as possibilities. NYC has so many "feeder" areas, across 3 states really, New York, New Jersey and CT - all of merging into the city every morning ;-) I would start by trying to finetune the area of interest and go from there.
Keep your eye on all expense lines - monthly mortgage payments, taxes, monthly maintenance, insurance etc so you understand your expenses and can evaluate whether you can recoup rental to cover. Be sure to have a process to evaluate credit of potential tenants, whether you rent with an agent or on your own, don't overlook this step. Most agents can/will help you with both sales and rentals. If you decide to hire a property manager you may find it costly.
I've got a few homeowners who have been transferred with work and decided to rent while they are away, they've learned that it is work to be a landlord. So do think about what you are taking on and be sure you are comfortable with it.
Unwavering Commitment to Service... more
Consider working with an agent, as he/she can notify you with information, schedule showings, etc., or contact management and check with them for any upcoming available units--or for a current list of all available units in the area check out www.mlsli.com MLS is showing as available one bedroom unit listed at
$285,000, the maintenance is $724.03 and a 20% downpayment is required.... more
Here is the link that has the listings. Hope this works. All I did was do a search for FHA approved condos, and came up with the site to go to. If this doesn't work, you can do the same. Then, of course, to thank me for providing this information, you can contact me when you are looking to apply for a mortgage. We are direct lenders who underwrite and fund FHA loans as well as all conventional loans, and broker anything else.
Unfortunately when it comes to co-ops there is never a guarantee a buyer(s) will be approved by the Board, even though he/she qualified for the mortgage and Board requirements are fulfilled. If you need to sell first, before purchasing--list your co-op now and start house hunting on a light scale--when in contract you can pick up some speed--again no guarantees the Board will approve your buyer(s), but if you see something you like and have a downpayment you could go into contract--your attorney and agent will advise on contingencies--If you want to play it safe and sell first-- consider a short term rental or staying with family/friends. On the other hand if your co-op has no mortgage, and you have downpayment/closing money available you can sell anytime and buy anytime. Visit a finacial officer(s) first and see exactly where your budget stands.... more
Hi Elaine- there are very few buildings that allow rentals. I can email you listings with that in mind. Some allow rental but only after 1-2 years of living in the unit. Give me call a Terry K 718-614-3167 cell or email me email@example.com... more
Depends on where exactly the coop is! Unfortunately the area is going a little down hill, especially since Eric Gioia (D) allowed new licenses for street vendors - now the place is over run by kebab stands and halal meat vendors - that's not too bad during the day - but at night between the deliveries of off the truck meat, the amount of street garbage and the noise is not what I'd call ideal! If she's going ahead with buying - ensure that the co-op is in the back of the building (if she buys in the front of the building on the top floor or the 1st floor - the noise will be the same - back is better!) , off any main road/street. I used to love Jackson Heights - but the noise pollution has become too intense - that's my 2 cents - good luck with the search!... more