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10033 : Real Estate Advice

  • All21
  • Local Info2
  • Home Buying9
  • Home Selling3
  • Market Conditions0

Activity 19
Sat Jan 14, 2017
CKnyc answered:
For condo's you will get a mortgage. For co-op's you will get a shareholder loan or note. Regardless, payments for both loans are completely separate from maintenance.

In a condo you will have to pay common charges and taxes separately. For co-op's they are bundled together under "maintenance."

See the article below for a much more comprehensive guide to your question and the differences between condo's and co-op's. Must read before you decide to buy!
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1 vote 9 answers Share Flag
Sat Jan 14, 2017
CKnyc answered:
The easiest first step is to choose a broker who can offer you great advice plus provide you a split of their commission (i.e. buyer's broker commission rebate).

Having a buyer's agent is free to begin with, and they're a great point person to direct you to other experts like mortgage bankers who will tell you how big of a mortgage you will be pre-approved for.

Work with a trusted local commission rebate provider like Hauseit etc. to pair up with a top rated local broker who has already agreed to provide you with a rebate.

Start there and good luck!
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Sat Jan 14, 2017
CKnyc answered:
I think Ben's answer is very comprehensive and highlights many of the differences and dangers of buying a co-op. Moreover, a co-op will be a more time intensive process to purchase as you'll need to do a length purchase app (see link below) and pass a board interview.

The only benefits besides being more affordable is you can have a more closed environment. After all, the co-op board screens buyers and only allows in people they effectively like. This can lead to some screening and there are no laws that dictate what a board can do. They do not have to give a reason for rejection for example.

So perhaps if you are a close minded person, it can be helpful to you and you only want to live segregated with a certain type of people. Not for me .. but that's the only other benefit I can think of!
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Sat Jan 14, 2017
CKnyc answered:
A good rule of thumb is 25-35% available even if you plan on only putting 20% down. This will help cover closing costs (see link below) and give you post closing liquidity (sometimes required by co-ops).

You should get a buyer's broker commission rebate through a local FSBO/rebate provider like Hauseit if you want additional cushion / liquidity post closing.
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1 vote 2 answers Share Flag
Sun Aug 14, 2016
Stephanie Greenberg asked:
Mon Jul 11, 2016
Neil Roxas answered:
Hi Richard,

Thank you for taking the time to contact us. I apologize you are experiencing errors on our site regarding saved homes or searches and I am happy to help in anyway I can. My recommendation would be to follow these troubleshooting steps. First, please note Trulia works best on either Google Chrome or Firefox. Secondly, please ensure the web browser is up to date. Finally, please clear your cache and cookies. One thing to consider is that Trulia is not compatible with Windows 10 at this time. If the issue persists after these troubleshooting attempts, please send a screenshot and I will be able to further assist.

Thank you for using Trulia!

Consumer Care Advocate
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0 votes 1 answer Share Flag
Thu Dec 24, 2015
Christopher Pagli answered:
Hi, You can call Brett Lando of Gahagan & Lando - 914.251.0010

She is one of the most diligent, pro-active, and responsive individuals I have ever worked with.

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Thu Dec 24, 2015
Christopher Pagli answered:
Truly is an agent only platform at this time, all listings must be through a broker.

0 votes 2 answers Share Flag
Tue May 5, 2015
Kirsten Prizzi 239-248-1667 answered:
if you want to correct your reviews you need to contact Trulia.
0 votes 1 answer Share Flag
Tue Jan 6, 2015
The Stephen FitzMaurice Team answered:
Mon Feb 10, 2014
Nardeen Billan answered:
Hi Jovanna! I understand your situation. I was in or shoes not too long ago as well. I would need to chat with you for a little to find out what your goals are and your plans to have them line up with your real estate goals. There is also something that can qualify you to get an awesome deal being you are young with not much saved up I am guessing. Shoot me an email if you would like

Good luck and I love the young ambition!
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0 votes 5 answers Share Flag
Thu Nov 7, 2013
Adina Greenberg answered:
It's not hard to show you the building, but you are aware there are no rentals at the moment? It's a small building, a walk up, with a laundry on the ground floor. I live in the neighborhood and pass it all the time. Perhaps speak with a local broker who knows the neighborhood. ... more
1 vote 3 answers Share Flag
Wed Oct 16, 2013
Janet Nation, CBR answered:
I don't know where you are looking for purchase, but it doesn't look good right now. Don't let anyone fool you into thinking you can purchase a home with that kind of credit score and expect to get a competitive rate. Your income honestly is low also so unless you have a hefty down payment, your probably not ready at this time, however, you should sit down with a mortgage professional for guidance and mortgage eligibility preparation. ... more
0 votes 6 answers Share Flag
Wed Aug 14, 2013
Trevor Curran answered:
Good morning Botvav,

First steps:

Meet in person with a Local Mortgage Banker to get prequalified for mortgage financing. The Mortgage Banker will review all facets of your loan request to answer your questions with regards to the types of loans and maximum loan amounts you could qualify for. Your Mortgage Banker will discuss the various loan programs, closing costs, and most important of all, monthly payment.

Get a referral to a good, local, real estate attorney. Call the attorney, retain the attorney so you have her information handy when you make an offer. Having that information at time of offer helps you demonstrate to the Seller how serious you are, and they will consider your offer with more interest.

Line up a Home Inspector. A good home inspector will scare the heck out of you: that's what you pay him for! But you'll concentrate on the fundamentals of the property: roof free of leaks, plumbing, heating and electrical up to code and in good working order. Again, when you make an offer and you have your Home Inspector ready to go, your offer will be considered with much more interest by a Seller because you truly have your "ducks in a row" and your preparation demonstrates your serious attitude about conducting the purchase transaction in a timely manner.

Find an experienced Local Realtor who works in your desired shopping area. A serious pro Realtor will refuse to show you homes until you are Prequalified for mortgage financing. Don't take offense! That Realtor doesn't want you to be disappointed and wants you to have a smooth experience as you shop for your new home.

Put together your Team of real estate professionals and shop 'til you drop!

Trevor Curran
NMLS #40140
Mobile: 516-582-9181
Office: 516-829-2900
Fax: 516-829-2944
PowerHouse Solutions, Inc.
1010 Northern Blvd. Suite 234
Great Neck NY 11021
Licensed Mortgage Banker – NYS Dept. of Financial Services

*If you thought my answer was helpful, please give me a “Thumbs Up” or “Best Answer.” Thanks!
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0 votes 21 answers Share Flag
Thu Jan 19, 2012
Nina Harris answered:
Are you asking what makes an agent a good agent?

Need you to clarify.
0 votes 7 answers Share Flag
Sun Jun 12, 2011
First Last answered:
Ask the seller to show you utility records. Square footage is much more important than the number of bedrooms.

If you're trying to budget this--Well, in the winter there's heating and in the summer for most people there's air conditioning! Utility companies will set you up on a same-payment-every-month plan once you've been in the house long enough to establish usage patterns.

Karla Harby VP
Lic Real Estate Salesperson
Charles Rutenberg LLC
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0 votes 2 answers Share Flag
Tue Jan 5, 2010
Navahjo Stoller answered:
Your best bet is to deal with a broker and your management company to get your apartment rented. My suggestion is to be as nice as you could be and push towards getting your apartment reassigned. Legally the landlord CAN NOT charge double rent on a rent stabilized apartment.

good luck.

Navahjo Stoller
navi times real estate
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Fri Feb 6, 2009
Emily Erekuff answered:
Hi 830,

It looks like your question may have been cut-off. I recommend that you post an answer here to clarify what you are asking or that you re-post your question entirely.

Please let us know if you experience any difficulties posting.

Best Wishes,

Emily Gibson
Community Moderator
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