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Home Buying in Warwick : Real Estate Advice

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  • Local Info1
  • Home Buying11
  • Home Selling0
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Activity 15
Wed Apr 6, 2016
Jan-luc Vandamme asked:
0 votes 0 Answers Share Flag
Thu Mar 3, 2016
Ellievdavis55 answered:
Anything that helps the home be more energy efficient is going to be a good option. The added value is mostly derived from the fact that it will save the owner a significant amount of money on utility costs. Solar is one of the more costly options in that group though. The panels aren't cheap to install, and they likely don't increase the value of the home enough unless you'll be living there for a few years before selling. I would definitely suggest doing some things to make the home more energy efficient, solar panels just might not be that thing.
http://www.armstrong1234.com/roofing/foam_roofing/
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0 votes 16 answers Share Flag
Sun Apr 19, 2015
Kathy Burgreen answered:
I'm a retired real estate salesperson and the answer is yes, the seller should continue showing the home & make every effort to sell it. As for the buyer, if the buyer is working with a licensed realtor, the 1st question during the vetting process should have been "How are you paying for your new home?" Any buyer planning to buy a home is either financing it with a mortgage OR paying cash or a combination of the two. The buyer must provide proof with either a pre-approval or proof of funds (cash sale). If the buyer has to sell their home prior to purchasing a new home, then the buyer MUST wait until the contract is signed by both parties BEFORE submitting an offer on a new home. Realtors are well aware that contracts can fall thru for a variety of reasons and a contingent offer should only be for a home inspection or appraisal.

The issue in this situation is if the buyer puts a contingent offer before his house is sold and the deal falls apart, then the seller of the new home could sue because that seller lost valuable marketing by removing the listing from sale.

During the preparation of the contract, it can be written that the closing date will be dependent on the closing of the buyer's home. This will give the seller a guarantee that the sale will go thru.
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Thu Apr 9, 2015
Ceara Jaggi answered:
You will most likely take out a lot loan for just the land. But if youre building right away then you will need a construction loan. Contact a local agent or your bank and they can get you headed in the right direction. ... more
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Sun Mar 8, 2015
Josh Barnett answered:
Fri Jan 24, 2014
renee_doolittle answered:
Wed Nov 13, 2013
Denise Schmidt answered:
As long as the owners obtained a permit to make the changes to the basement, there would be a Certificat of Occupancy (C of O) in the Village Records to prove that. If there is no permit, then there would not be a C of O for the work done. Whenever you look to purchase a home and you see improvements to it, either the buyer or their Agent should call the Village Building Department to verify the work that was done as apposed to the Permits taken out to do the work.

Lots of times, sellers do take out a permit but do not get the final inspections( ie electric, plumbing, etc.) needed to close out the permits. If that is the case, just ask the Building Department what the figures and procedure are to properly close out the open permit(s).

Please feel free to contact me should you need any further information.

Best,

Denise Schmidt, Licensed Real Estate Agent
Green Team Home Selling System
845-986-7730
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0 votes 1 answer Share Flag
Sun Aug 18, 2013
Victoria Aloia answered:
My feeling is that it is the seller 's responsibility to provide the Certificate of Occupancy for the basement. Many times, a basement is finished to cover water issues, mold issues, foundation issues, electrical, and the list goes on.
Most likely, the Town will be happy to work with the seller to achieve the C.O. in order to close.
There may be a few bumps in the road that both the seller and the buyer may have to address, but if the the house is ideal for you and you really like what the basement is offering....
I would dedicate the time to see what the town's perspective is....
Perhaps, the town will pass the basement with some simple documentation from the original contractor.
The fees involved are rather nominal in the whole scheme of things.
The main objective in a situation like this is obtain a C.O. to ensure that there are no defects , no hazards that may be life threatening and equally important is to have the ability to sell the home in the future with a 100% marketability status.
Hope that this helps!
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0 votes 8 answers Share Flag
Thu Jan 10, 2013
John Olivero answered:
Great question! First I am not a mortgage lender/broker etc.

As a Realtor I have knowledge of your question. Lender underwriting criteria is constantly changing. In short I believe you can find a lender who will look at "landlord" experience differently than a two year waiting period.

An example would be if you have at least 25% equity in your current home. If so and you can provide lender with a copy of a lease and a security deposit from tenant and can naturally meet credit/income/debt criteria, you can qualify for a mortgage without being a land lord for two years.

If you like I can put you in touch with a mortgage broker who can help you.
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0 votes 3 answers Share Flag
Thu Jun 28, 2012
Heide K Moeller answered:
Luann,

I know the community well, having both listed and sold in that community. I also know the house you are interested in. If you would like to contact me, you may do so at heidekmoeller@yahoo.com. ... more
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Wed Apr 18, 2012
Julie Piazza answered:
It is always a very good idea to research any area you plan on buying property in. The best place to start are the town websites. They offer so much information including local phone numbers for police departments and school districts if you have specific questions.

There are many great towns in Orange County!
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Wed Jul 7, 2010
Sandy Giff answered:
Taxes are $9500 and the property is mostly level
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Wed Jul 7, 2010
Timbo asked:
Tue Nov 24, 2009
Katheryn DeClerck answered:
Michelle,

9 Campbell is vacant land. lot size 65x125 for $229,000.

I am a local agent just a couple blocks away from this location. If you would like more information about the area, I would be happy to assist you.

Katheryn DeClerck
Broker Associate
Better Homes and Gardens Rand Realty
25 Railroad Ave,
Warwick, NY 10990

Mobile 845-629-3504

P.S. Feel free to visit my website and see what my past clients have said about working with me!
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0 votes 3 answers Share Flag
Mon Sep 28, 2009
Cecilia Umhey answered:
You should contact your mortgage broker or an accountant. It is my understanding that to qualify for the tax credit ,ONLY individuals who have not owned a home in 3 years can be on the deed. ... more
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