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Home Buying in 11211 : Real Estate Advice

  • All68
  • Local Info4
  • Home Buying42
  • Home Selling2
  • Market Conditions1

Activity 40
Medtech18, Home Buyer in Brooklyn, NY
Tue Nov 24, 2015
Medtech18 answered:
BUYING A HOME FOR 85 K IN PHILA PA WHAT WOULD COST OF TITLE SEARCH BE?
0 votes 15 answers Share Flag
mistyshadow5…, Home Buyer in Hayes, NC
Mon Mar 9, 2015
mistyshadow5360 asked:
yansijimenez, Home Buyer in Brooklyn, NY
Sat Jan 31, 2015
yansijimenez asked:
ruben rayside, Real Estate Pro in New York, NY
Fri Aug 8, 2014
ruben rayside answered:
Joseph Runfo…, Real Estate Pro in Staten Island, NY
Tue Mar 11, 2014
Joseph Runfola answered:
You, your attorney, would need to check on the particular condo/co-op. Parking in new developments is selling for twice what it was five years ago.The deed may also include other rights or restrictions, such as requiring ownership of a unit in an particular building. Some deeded parking spots may also restrict the type of vehicle (no trucks, boats or RVs), coordination of maintenance with adjacent owners, and may require right of first refusal to go to an association or other entity if the deeded owner decides to sell (thus keeping ownership of the spaces within the local community). ... more
0 votes 1 answer Share Flag
isabella med…, Home Owner in Brooklyn, NY
Thu Apr 18, 2013
isabella mederi answered:
Anthony Busa…, Real Estate Pro in Piscataway Township,...
Thu Apr 4, 2013
Anthony Busanich answered:
I would be happy to work with you and your daughter in finding the right financing for her and you. Please call or e-mail me to discuss this at greater length. We offer programs with 20 % down with a co-signer or we may be able to view the option of a second home.
TD Bank Group is a US base bank owned by The Toronto-Dominion Bank is a Canadian multinational banking and financial services corporation headquartered in Toronto. It is the second-largest bank in Canada by market capitalization and based on assets, and is the sixth largest bank branch network in North America.

We offer programs single to multi family mortgage visit my website at http://www.tdbank.com/tonybusanich for rates and programs and fees.

Or contact me by email at anthony.busanich@td.com

Tony Busanich
TD Bank
phone: 732-521-4699
Cell: 908-300-6660
... more
0 votes 9 answers Share Flag
Michael Rich…, Real Estate Pro in NY,
Sun Mar 17, 2013
Michael Richman answered:
Hi,

In New York, paying for the title search is the buyer's expense. Often, the buyer's attorney waits until all contingencies are met before ordering the title search to be sure the transaction will close. Some attorneys do order the title search as soon as the contract is signed to be sure that no time is lost in waiting for the search and resolving any issues it reveals.

Michael Richman
Associate Broker
Kian Realty NYC
450 7th Avenue
New York, NY 10123
917-991-2528
mrichman@kianrealtynyc.com
... more
0 votes 6 answers Share Flag
Josh Barnett, Real Estate Pro in Chandler, OK
Wed Feb 27, 2013
Josh Barnett answered:
Your loan officer will be the best person to answer this for you, what have they told you?
0 votes 4 answers Share Flag
Jean Paul Ho, Real Estate Pro in Brooklyn, NY
Wed Feb 27, 2013
Jean Paul Ho answered:
Thank you for your questions! We can definitely help you! Please call us at the office @ 1-718-875-8899 so we can schedule an appointment ASAP. We are open 7 days a week Monday Through Friday 9:00 AM to 9;00 PM Sat & Sun 10:00 AM to 7:00 PM We are member of Brooklyn New York MLS & Manhattan REBNY MLS
For more listing visit:
www.BrooklynRealProperty.com,


Office 1-718-875-8899
Brooklyn Real Property, Inc.
Downtown Brooklyn Office
389 Atlantic Avenue (Bet: Bond & Hoyt Street)
Brooklyn New York 11217
1-718-875-8899
Canarsie Office
9201 Flatlands Avenue (Corner of East 92 Street)
Brooklyn New York 11236
1-718-272-8988
... more
0 votes 4 answers Share Flag
Anna M Brocco, Real Estate Pro in Williston Park, NY
Wed Feb 6, 2013
Anna M Brocco answered:
If you are not in contract consider walking away...
1 vote 5 answers Share Flag
Alan May, Real Estate Pro in Evanston, IL
Fri Oct 5, 2012
Alan May answered:
You're probably not purchasing title... you're purchasing title insurance...

It's insurance for that your lender requires, the the title company insures is clear... if a cloud (problem) should show up on your title at some later date... the title company is taking responsibility for clearing it up.

The seller also offers YOU a title insurance policy (for which they paid more than you're paying) insuring YOU that your title is clear.
... more
0 votes 5 answers Share Flag
Anna M Brocco, Real Estate Pro in Williston Park, NY
Wed Sep 19, 2012
Anna M Brocco answered:
If looking to buy any such properties consider working with an agent of your own; if purchasing with a mortgage, be aware that a mortgage pre-approval letter is required in order to determine your price range and for any offers to be taken seriously. ... more
0 votes 3 answers Share Flag
Trevor Curran, Real Estate Pro in Great Neck, NY
Tue Jun 19, 2012
Trevor Curran answered:
Dear Jeff,

I've been helping First Time Buyers for 22 years as a mortgage professional and I will tell you what I have always told my clients here in New York: If you are a First Time Buyer, steer clear of foreclosures and short sales.

Foreclosures are someone else's headache. The home probably has not been well-maintained and you're a First Time Buyer adjusting to paying a mortgage. Do you really want to walk in the door to someone else's deferred maintenance that YOU will have to pay for? Also, if you're thinking there are deals to be had in terms of lower prices, mostly those "deals" go to professional investors who can pay cash, negotiate hard with a Lender, and close fast.

For Short Sales, my attitude of late is that First Time Buyers should steer clear. Short Sales tend to be a better deal for the homeowner than for the Buyer. You'll wait MONTHS for the homeowner's Lender to approve the short sale; maybe as long as Six or Seven Months. Meanwhile, you're stuck in a contract to buy that home. I closed a short sale recently with a Buyer who, after seven months said this at the closing table, "I don't even want this house anymore."

And he didn't even get the "deal" on price he thought he was getting! The house appraised for only slightly more than he paid for it at the short sale price. He walked into this deal thinking he was buying a home for $100,000 less than it's value. In the end that wasn't the case.

There are plenty of motivated Sellers with their homes listed on your local MLS. Go find a good Local Mortgage Banker, get prequalified, then find a great, experienced Realtor, and buy the home you want at the price you're willing to pay. It's a Buyer's Market, after all!

Trevor Curran
NMLS #40140
... more
0 votes 6 answers Share Flag
Trevor Curran, Real Estate Pro in Great Neck, NY
Mon Jun 4, 2012
Trevor Curran answered:
NYC Dept. of Finance provides online access to property taxes:

http://www.nyc.gov/html/dof/html/property/property.shtml

You'll need to locate the Block and Lot number first, which you can do on the same site. Once you have that you can look up the property and view the most recent tax bill.

Trevor Curran
NMLS #40140
... more
0 votes 3 answers Share Flag
Trevor Curran, Real Estate Pro in Great Neck, NY
Sat Apr 28, 2012
Trevor Curran answered:
First steps:

1. Meet 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.


2. 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.

3. 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.

4. 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!

Good luck!
Trevor Curran
NMLS #40140
... more
0 votes 15 answers Share Flag
First Last, Other/Just Looking in 90002
Thu Mar 1, 2012
First Last answered:
Hard money lenders provide short-term, high interest loans for the purposes of construction, they do not provide financing for conventional purchasers like you.

Even if you are purchasing as an investor, you would not be able to access a hard money lender. (I could say a lot more about this, from my own experience, but it's beyond the scope of this question.)

Regarding your question, yes, it is absolutely possible to obtain such a loan, but the question is at what cost, and whether such a loan can be obtained by you, given your credit history, salary, savings, real assets, debt, etc. etc.

Also, if you plan on purchasing as an investment, not to live there, then it's a different story and you would need significant financial resources indeed to obtain such a loan, if it is even possible for you.

Bear in mind that private mortgage insurance is no longer tax deductible as of Jan. 1, 2012. PMI is the insurance that covers your lender for the risk of your low equity investment. PMI is not cheap.

Mitchell makes a great point when he asks whether it is worth it for you to obtain such a loan, or not. That is potentially a very complex question. However, for most people I encounter day to day, you are better off purchasing something smaller and putting 20% as your down payment.

Karla Harby
Lic RE Salesperson
Charles Rutenberg LLC
212 688 1000 x146
kharby@crrnyc.com
... more
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