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- Agent with Realty on the Greene, LLC
Specialties: Property Management, Relocation, and Landlord
License Number(s): #49L10906875
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sres: Seniors Real Estate Specialist
The SRES® Designation program educates REALTORS® on how to profitably and ethically serve the real estate needs of the fastest growing market in real estate, clients age 50+. By earning the SRES® designation, you gain access to valuable member benefits, useful resources, and networking opportunities across the U.S. and Canada to help you in your business.
gri: Graduate, REALTOR® Institute
REALTORS® with the GRI designation have in-depth training in legal and regulatory issues, technology, professional standards, and the sales process. Earning the designation is a way to stand out to prospective buyers and sellers as a professional with expertise in these areas.
abr: Accredited Buyer’s Representative
The Accredited Buyer’s Representative (ABR®) designation is designed for real estate buyer agents who focus on working directly with buyer-clients at every stage of the home-buying process.
sfr: Short Sales and Foreclosure Resource
The SFR® certification teaches real estate professionals to work with distressed sellers and the finance, tax, and legal professionals who can help them, qualify sellers for short sales, develop a short sale package, negotiate with lenders, safeguard your commission, limit risk, and protect buyers.
Through NAR's Green Designation, the Green Resource Council provides ongoing education, resources and tools so that real estate practitioners can successfully seek out, understand, and market properties with green features.
crb: Certified Real Estate Brokerage Manager
The Certified Real Estate Brokerage Manager (CRB) is one of the most respected and relevant designations offered in real estate business management and is awarded to REALTORS® who have completed advanced educational and professional requirements. CRB Designees are better positioned to streamline operations, integrate new technology and apply new trends and business strategies. Join today and discover a new approach to enhancing knowledge and leveraging opportunity.
cpm: Certified Property Manager
CPM designees are recognized as experts in real estate management. Holding this designation demonstrates expertise and integrity to employers, owners, and investors.
crs: Certified Residential Specialist
The CRS designation is the highest credential awarded to residential sales agents, managers, and brokers. On average, CRS designees earn nearly three times more in income, transactions, and gross sales than non-designee REALTORS®.
alc: Accredited Land Consultants
The esteemed Accredited Land Consultants (ALCs) are the most trusted, knowledgeable, experienced, and highest-producing experts in all segments of land. Conferred by the REALTORS® Land Institute, the designation requires successful completion of a rigorous LANDU education program, a specific, high-volume and experience level, and adherence to an honorable Code of Conduct.
cips: Certified International Property Specialist
Instantly align yourself with the best in international real estate by earning the CIPS designation. The program includes five full days of study focusing on the critical aspects of international real estate transactions, and an influential network of 2,000 professionals who turn to each other first when looking for referral partners.
epro: Certified Internet Professional
NAR's e-PRO® certification teaches you to use cutting-edge technologies and digital initiatives to link up with today's savvy real estate consumer.
bpor: Brokers Price Opinion
The BPOR certification provides REALTORS® with knowledge and skills to perform accurate and professional broker price opinions (BPOs) and comparative market analyses (CMAs), while reducing risk and increasing opportunities.
pmn: Performance Management Network
This designation is unique to the REALTOR® family designations, emphasizing that in order to enhance your business, you must enhance yourself. It focuses on negotiating strategies and tactics, networking and referrals, business planning and systems, personal performance management and leadership development.
ccim: Certified Commercial Investment Member
The Certified Commercial Investment Member (CCIM) designation is commercial real estate’s global standard for professional achievement, earned through an extensive curriculum of 200 classroom hours and professional experiential requirements. CCIMs are active in 1,000 U.S. markets and 31 other countries and comprise a 13,000-member network that includes brokers, leasing professionals, asset managers, appraisers, corporate real estate executives, investors, lenders, and other allied professionals.
cre: Counselors of Real Estate
The Counselors of Real Estate® is an international group of recognized professionals who provide seasoned, expert, objective advice on real property and land-related matters. Only 1,100 practitioners throughout the world carry the CRE® designation. Membership is by invitation only.
gaa: General Accredited Appraiser
For general appraisers, this designation is awarded to those whose education and experience exceed state appraisal certification requirements and is supported by the National Association of REALTORS®.
mrp: Military Relocation Professional
NAR's Military Relocation Professional certification focuses on educating real estate professionals about working with current and former military service members to find housing solutions that best suit their needs and take full advantage of military benefits and support.
raa: Residential Accredited Appraiser
For residential appraisers, this designation is awarded to those whose education and experience exceed state appraisal certification requirements and is supported by the National Association of REALTORS®.
rce: REALTOR® Association Certified Executive
RCE is the only professional designation designed specifically for REALTOR® association executives. RCE designees exemplify goal-oriented AEs with drive, experience and commitment to professional growth.
rsps: Resort and Second-Home Specialist
This certification is designed for REALTORS® who facilitate the buying, selling, or management of properties for investment, development, retirement, or second homes in a resort, recreational and/or vacation destination are involved in this market niche.
sior: Society of Industrial and Office REALTORS®
The SIOR designation is held by only the most knowledgeable, experienced, and successful commercial real estate brokerage specialists. To earn it, designees must meet standards of experience, production, education, ethics, and provide recommendations.
srs: Seller Representative Specialist
The Seller Representative Specialist (SRS) designation is the premier credential in seller representation. It is designed to elevate professional standards and enhance personal performance. The designation is awarded to real estate practitioners by the Council of Real Estate Brokerage Managers (CRB) who meet specific educational and practical experience criteria.
awhd: At Home With Diversity
Learn to work effectively with – and within – today’s diverse real estate market. The At Home With Diversity certification teaches you how to conduct your business with sensitivity to all client profiles and build a business plan to successfully serve them.
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test Sold: 12/31/1969 Represented: Buyer and Seller$0
Check out all of Kathryn Lilly's activity on the Trulia community, Trulia Voices. If you have a real estate question, get answers from professionals by posting there.
Q:A:Your Aunt being on the mortgage does not give her ownership of the building. Being a co-signer on the mortgage is just that; a co-signer to a debt. Probably done as a favor to her sister to help her buy a home, but that does not give her rights to the ownership of the property. Kathryn Lilly Realty on the Greene, LLC KLilly@RealtyontheGreene.com 718-614-5542
- Answered by Kathryn Lilly
- 0 votes
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Q:A:This is unfortunately one of the many problems with the legal structure of a Condo. Condos are better if they collect reserve funds to take care of all common repairs and capital improvements as they become due, but because the condo gets taken over by investors that do not have the same understanding of maintaining a building as a "Landlord" does they do not want to increase the monthly common charges to pay for maintenance and repairs in the future. They are just interested in their monthly cash flow. It is of course short sighted, because it ends up that no one can sell their individual units because there are too many "investors" and not enough owner occupants, so the building will not qualify for home owners mortgages, and even tenants do not want to pay top rents in buildings that are not taken care of. Eventually these buildings can and often do get taken over by what I call vulture investors, they start buying up all the desperate sellers units cheap for cash and eventually take over the whole building. But it often takes years of the building falling into dis-repair, because there is no money from the common charges to cover basics let alone hire lawyers to go after the owners that stop paying their assessments and common charges. The vultures then clean up and eventually foreclose on all that debt the board of (miss) managers could not collect. This is one of those things that I believe the States Attorney General should step in and make the common charges a priority lien before the Bank mortgages, like it is in a co-op. At least if the Banks had to pay the common charges, many of these floundering condos could stand on their own and maintain themselves, it would also make individual owners pay their common charges if they knew that the Bank would pay them and start foreclosure proceedings if the individual owner did not. As it is now, the board of manages of many buildings have to spend money on legal fees and collection agents to collect the common charges in many cases, and many buildings just do not have the money to repair the boiler let alone hire Layers to collect dead beat owners common charges. As an owner, you are entitled to go to the managing agents office and review the books, you will probably need to make an appointment and I would suggest that you go with an accountant or at least a book keeper that can quickly understand them. But, yes assessments on top of assessments are quite common in a building that is sinking. Because the chances are many owners are not paying their common charges or assessments. Sorry for the gloom and doom, but I am seeing this more and more and more. A well managed co-op is much better entity to buy a home.
Q:A:The Buyers pre-qualification letter ( a Pre-Approval is better) comes from the buyers mortgage Banker or Bank that the buyer has chosen to get their financing from. The buyer them submits it to the sellers agent along with their offer; price, terms of offer etc. The sellers agent will then generally meet with their client; the seller to go over the offers along with the pre-approval letters from the buyer or buyers. I hope this answers your question. Kathryn Lilly, Broker Realty on the Greene, LLC KLilly@RealtyontheGreene.com 718-614-5542
Q:A:Title Searches, Title Insurance and recording fees along with your attorney will probably all add up to about 2-3% of purchase price. Plus of course you should still buy a home owners Fire & Liability Insurance Policy. Yours, Kathryn Lilly, Broker Realty on the Greene, LLC KLilly@RealtyontheGreene.com 718-858-7600
Q:A:When presenting all offers to the seller; the sellers agent should make sure that all offers are qualified. And if an offer is subject to the potential buyer obtaining a mortgage, then absolutely the offer needs to be submitted with a pre-approval letter from a reputable Mortgage Banker or local Bank for a mortgage program that the property will qualify for. The pre-approval letter should state that the potential buyers income, assets and credit have all been verified. If it is approved based on information received by the Banker from the buyer, the seller should not accept that offer, until it has been properly verified. In this market when there are more buyers than there are good houses (Property) available it is crucial that any buying hoping to submit a good offer is already working with a Banker, as well as have a Real Estate attorney and home inspector lined up on their team. If not the buyer will get out bid, just because they are not ready. A buyer needs to be Ready, willing and able to make the offer that they are submitting. Kathryn Lilly, Broker Realty on the Greene, LLC 718-614-5542 KLilly@RealtyontheGreene.com
Q:A:I have been living a little further up Eastern Parkway ( East) for more than ten years and touch wood have never had an issue. I have visitors from London staying coming home at all hours of the night after clubbing in Manhattan and never had a problem. That said I do think if you do not feel safe in an area, you will be the one that gets picked on. Crime does happen everywhere. No neighborhood is immune from it.
- Answered by Kathryn Lilly
- 1 votes
- Best Answer
Q:A:Keep a very open mind and do a lot of looking, and check the records of every house that you are taken to before anyone gets your money. I am afraid their are not that many, especially for anything bigger than a studio. Those that you may find are often not legal apartments, or cons, so be carful who you give your money to. On the search engines just log in for your search Brooklyn, NY and for rent up to $1,000. Or Queens and again up to $1,000 or Bronx etc Then only look at or call the apartments that have been listed less than a week and close to subways, if you need the subway. Once you have the address; look it up on www.NYC.Gov/HPD to see who is listed as the managing agent, be sure to speak to someone in their office or their licensed Broker. All Brokers have a license that looks similar to a drivers license with a photo. Most of the better apartments in the price range will be a distance from Manhattan, but can be very nice apartments in great neighborhoods. One of my workers just found a lovely large one bedroom near the Euclid Ave A/C express stop. She thought she would live there to save money to buy a co-op in Fort Greene, now she is thinking she will buy a house out there!
Q:A:It depends on many things. The size and tax class, how many families is it? If there have been a lot of "improvements" building permits pulled on it and a lot of transfers; buying & selling; the taxes will be higher than a similar house, in the same tax class that has been in the same family for many years with no permits and changes of uses etc. The house that you have tagged here is probably about $4-5,000 per year. But it could be a lot higher depending on the number of changes of use and building permits issued. But a lot less than you pay in Oyster Bay, NY! Call me if you need further townhouse questions answered. Kathryn Lilly, Broker Realty on the Greene, LLC 718-858-7600
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