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All Locations : Nationwide Real Estate Advice

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  • Home Buying265K
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Activity 506,033
A moment ago
Kgashaw asked:
The idea is for a small warehouse to package a food product and sell online as well as distribute to potential clients. I would like to hear from a real estate agent or brokers if there…
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A few minutes ago
Kathleen "Kat" Palmiotti answered:
The best next-step would be to contact a mortgage broker to get more information on the specific requirements. Buyers in NY do use 203K loans, so the area wouldn't be a deterrent to using them.

I hope your purchase went well!

Kat Palmiotti, Licensed Associate Broker, 914-419-0270, kat@thehousekat.com
... more
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A few minutes ago
Kathleen "Kat" Palmiotti answered:
I've found the most interesting thing about working with serious investors, is that the purchase process is all about objective details. There is no emotional attachment to the home or the offers/purchase. The entire deal is just about what will it cost, what will they have to put into it, what are the monthly expenses, and what kind of cap rate is there. Very different process from residential real estate, and quite interesting!

I'm sure there are quite a few agents in the area that can be of assistance to a serious investor. You'd just need to do a little interviewing.

Kat Palmiotti, Licensed Associate Broker, 914-419-0270, kat@thehousekat.com
... more
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A few minutes ago
Jasmine Ginyard answered:
More info- The final contracts on this property have been signed. The closing date agreed upon. The inspection has been completed. Everyone signed off on the contracts and all that's required now is a time table of when the repairs will be completed and confirmation that there IS a schedule and the listing agent has become completely non-responsive. ... more
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A few minutes ago
Kathleen "Kat" Palmiotti answered:
It's interesting to see that three years later and the answer is the same! That home was a short sale when the question was first asked, and now it's a foreclosure sale.

Kat Palmiotti, Licensed Associate Broker, 914-419-0270, kat@thehousekat.com ... more
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A few minutes ago
Kathleen "Kat" Palmiotti answered:
Hello Rruscillo-

Every house requires a unique strategy. The offer depends on the market value, time on market, condition, seller's desire to sell, what kind of sale it is (foreclosure, short sale, regular sale) and more. Your real estate agent can analyze all these factors and help you put together a strong offer that includes not only a good price, but other terms that would work!

And in some markets, it could take a while to find the right house.

Kat Palmiotti, Licensed Associate Broker, 914-419-0270, kat@thehousekat.com
... more
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A few minutes ago
Kathleen "Kat" Palmiotti answered:
I'm not a representative for Zillow-Trulia, but just wanted to let you know that your name won't show as a listing agent, unless you are a real estate salesperson/broker and you submitted the listing through your MLS system. If you are adding a "for sale by owner" listing on any real estate website, your name and contact information would show up in a different place.

I hope that helps,

Kat Palmiotti, Licensed Associate Broker, 914-419-0270, kat@thehousekat.com
... more
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A few minutes ago
Heroywa asked:
A few minutes ago
Kathleen "Kat" Palmiotti answered:
Dianne-

The answer to this question has not changed much over the last few years. There are not a lot of multi-family homes in Monroe NY, although there are other towns in Orange County that have more two-family homes to choose from. In Monroe, at the moment, for example, there are only about four on the market, and they are very different from each other in price and condition. If you want to search out homes yourself, you could investigate public records to find all the two-family homes in the area and contact each owner for more info. If you'd like to do it the easier way, working with an agent who has experience with multi-family purchases is a great idea.

I wish you the best!

Kat Palmiotti, Licensed Associate Broker, 914-419-0270, kat@thehousekat.com
... more
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A few hours ago
Rahulbhatt04 asked:
I have a question about California contract how it works.

I put an offer on the one commercial property. it is a dual representation(same agent for buyer and seller). the seller accepted…
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A few hours ago
Ladymackpimp answered:
In state of louisiana can a spouse buy property without knowledge other spouse
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A few hours ago
Kirsten Sharp asked:
Im interested in the Georgia Dream Homeownership Program but I am a second time homebuyer. I am moving to Georgia and know I will be approved for a FHA loan but are there other grants available…
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A few hours ago
Robert Spinosa answered:
OK, there are a couple of factors we need to isolate. There is both a debt-to-income ratio (DTI) above 43% (thus it would not be a qualified mortgage --- QM --- if it was a jumbo loan amount) and we have a loan-to-value (LTV) above 80%. I will address both challenges separately:

1) For your high DTI, you either need to stick with a conforming loan, which will be $649,750 in 2018, or you need to use a non-QM program that will allow a DTI above 43%. We have a program that will allow a 49.99% DTI up to a loan amount of $1.5MM to an LTV of 80% and to a loan amount of $2MM with an LTV of 75%. While these would not accommodate your 10% down payment, the conforming scenario could get you to a purchase price of $722K with only 10% down, so keep that in mind.

2) Where the down payment is 10%, you are going to find that if the loan type is not conforming (with PMI) then you will most often be held to a DTI of 43%. Our jumbo options that allow 90% LTV adhere to the guidelines of a QM, so this implies 43% there. Where we use a piggyback mortgage (80/10/10), then sometimes the second mortgage can get to a DTI of 45%, but since there's a first mortgage limited to 43% this may or may not be a loophole that helps.

So in sum, combining your two attributes will be very difficult, but either one alone is absolutely possible as we go into 2018. I am only licensed in CA but happy to help on any such scenarios. Thank you.
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A few hours ago
Kirsten Sharp asked:
I am moving from Maryland to Atlanta within the next year and I am looking for a great lender to help assist me. I am not a first time homebuyer however I recently learned I could get another…
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A few hours ago
florina thomassin asked:
just a suggestion it would be helpful for clients to know beforehand which landlords accept vouchers
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A few hours ago
Angelica P answered:
Hi,

Please be advised that the issue where the photos of the properties are not loading has been resolved. We apologize for the inconvenience this has caused.

Thank you for using Trulia,
Angelica
Consumer Care
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