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Home Buying in 11229 : Real Estate Advice

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  • Home Buying11
  • Home Selling12
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Activity 11
Mark Geller, Real Estate Pro in New York, NY
Thu Feb 13, 2014
Mark Geller answered:
Please fill free to call Broker for free consultation at 718-265-0066 or 917-588-0099.
0 votes 8 answers Share Flag
Mark Geller, Real Estate Pro in New York, NY
Thu Feb 13, 2014
Mark Geller answered:
You have to give more details and experience Broker know how to sell for highest price.

call any time for free estimate 718-265-0066
or 917-558-0099.

Sincerely Mark Geller.
0 votes 10 answers Share Flag
Trevor Curran, Real Estate Pro in Great Neck, NY
Thu Jul 19, 2012
Trevor Curran answered:
Dear Hey,

Don't hold out for "Rent to Own" Properties: It may seem like a good idea at first, but there is much more to consider.

If you are dedicated to the idea of buying your own home, you can create your own savings plan to save up enough money for a down payment. And when you have saved up enough for a down payment, if that takes a year or two or more, YOU get to decide on the price you're willing to pay for the house at that time based on current market conditions. You won't be locked in to a price that may be a lot higher than what the house is worth in the future.

With Rent To Own, even if you can find such properties, you'll be locked in both to the house and to the price, even if it takes you 3 years to save enough through the forced savings of the rent payments. What happens if three years from now your life situation has changed? Maybe you need a bigger/smaller home. Maybe your employment has relocated. Maybe your credit or income is insufficient to qualify for a mortgage loan.

Find a way to save up on your own; not with Rent To Own. Rent To Own is a better deal for the Seller than it would ever be for a potential Buyer, because he gets to lock in a purchase price and a buyer today for a future sale.

Sit down with a local Mortgage Banker and get yourself prequalified, too. You may find you're better qualified than you think you are, and, if you're not, at least you'll know how much loan your income and credit qualify you for, and how much you have to save towards down payment and closing costs.

Trevor Curran
NMLS #40140
... more
0 votes 9 answers Share Flag
Trevor Curran, Real Estate Pro in Great Neck, NY
Tue Jun 19, 2012
Trevor Curran answered:
Good Afternoon Ralph,

I'd love to sit down and chat with you to complete a thorough Prequalification. I'm a Local Mortgage Banker and I've been helping HomeBuyers for 22+years here in the NY Metro region.

In the Prequalification meeting we'll review the building blocks of a successful mortgage application: IAC or Income, Assets, and Credit. Then we can determine the loan programs we can offer you and the programs that are the best fit depending on your family's goals and financial lifestyle. I'll also guide you through the entire process of buying a home, from finding a great local Realtor, to making an offer, home inspections, contract signing, loan process and closing. My clients get a personalized "First Time Buyer's Seminar."

I'm accessible seven days a week and I make house calls, so give me a call today and we can get you on your way to homeownership!

Trevor Curran
NMLS #40140
Office: 516-829-2900
Mobile: 516-582-9181
Fax: 516-829-2944
PowerHouse Solutions, Inc.
185 Great Neck Rd, Suite 240
Great Neck NY 11021
Licensed Mortgage Banker – NYS Dept. of Financial Services
NMLS#3528
http://www.phsloans.com
... more
0 votes 5 answers Share Flag
David Rogoff…,  in Brooklyn, NY
Thu Jul 15, 2010
David Rogoff and Bonnie Chernin answered:
Arkady,

What kind of pet do you have? Many building boards will allow a cat whereas it could be more difficult when it comes to dogs. We know of one co-op development on Burnett Street off Avenue U facing the Salt Marsh Creek, which is in the Marine Park/Sheepshead Bay area. This development allows both dogs and cats, and you can have as many dogs as you want in particular development, and any breed. Other buildings will allow you to keep a small dog (such as a Yorkie), but the board may restrict large dogs such as Rottweilers because they are concerned about attacks.

As long as you don't have a boa constrictor, orangutan, Asian Spotted Leopard or a member of some other exotic wild species you will need to clear any pet with the Board first. If you do happen to have an exotic pet and the Board decides to raise your maintenance and you don't want to pay it, at least you will have a bargaining chip!

An experienced co-op Realtor would know the rules and should be able to obtain them for you when searching the listings and inquiring about board requirements. We sell alot of co-ops in Sheepshead Bay and would be happy to help you, so feel free to call us anytime at the numbers below.

Feel free to visit our Trulia blog at http://www.trulia.com/blog/david_rogoff/ and you will find a number of articles about Co-op Pitfalls (as opposed to Pit Bulls) of owning a co-op.

Best regards,

David Rogoff and Bonnie Chernin
Fillmore Real Estate - Branch 19
Brooklyn, NY
E-mail: davidrogoff@Fillmore.com
917-593-4068 - David mobile
646-318-5031 - Bonnie mobile
... more
1 vote 2 answers Share Flag
David Rogoff…,  in Brooklyn, NY
Thu Feb 18, 2010
David Rogoff and Bonnie Chernin answered:
Dmitriy,

I would expect a draft contract to be in your attorney's office within a week or so, maybe ten days. You need to recognize that sometimes attorneys may have pressing personal or business matters ahead of yours that they may have to address first. Of course, your agent should be able to provide you with the status and specific details of why there is a delay. The other thing is, you can engage your own attorney to try to expedite the process and use some kind of leverage to get the contract prepared. The fact that your agent knows your attorney and that they worked together previously is not unusual and is no reason for concern. However, please express to your attorney your concerns about the delay and its impact on the transaction and that he should make all efforts to get the process expedited.

I know the waiting can be frustrating. I wish you luck and I'm sure it will work out for you.
... more
1 vote 1 answer Share Flag
Thomas McGiv…, Real Estate Pro in Farmingville, NY
Wed Sep 30, 2009
Thomas McGiveron answered:
Dallas Texas, Real Estate Pro in Dallas, TN
Fri Jul 25, 2008
Dallas Texas answered:
You can contact a Trulia agent who can search a specific area of NYC provide you that info. over the psast 6 months. I don't believe OR heard of a website that offers that info. if so I wonder about the accuracy posted.
http://www.lynn911.com http://www.homes-for-sale-dallas.com
... more
1 vote 1 answer Share Flag
Eric Vazquez, Real Estate Pro in Highland Mills, NY
Wed Jul 23, 2008
Eric Vazquez answered:
If a tenant trips and injures themselves and decides to sue, they can sue you and can attach any and all your current assets. Including any other properties you own. Forming an LLC for each is an added expense but it will usually insulate your personal assets from your LLC corporate assets. Each property can stand on its own against liability without attaching any other assets to it.

With each LLC there will be separate insurance policies, bank accounts, etc - all in the name of the LLC and not in your name. It is a great measure of protection for your personal assets.

As of last year, the yearly corporate filing fee imposed by NYS has been discontinued for single member LLC's. Remember, the cost of forming and operating an LLC is also a deductible business expense, along with mileage spent while searching for properties to pruchase - just document everything.
... more
1 vote 5 answers Share Flag
Arlene Trunzo…, Real Estate Pro in Staten Island, NY
Wed May 21, 2008
Arlene Trunzo, CRS,GRI,SRES answered:
Whenever a homeowner plans an addition to a home they should consult with an Architect. The plans should be filed with the building department and building permits should be issued . If the home you are referring to has no permits or C/O. That is a problem. The homeowner can have a very hard time trying to sell it. Even if you did not have to obtain a loan to purchase the house and were planning to buy it all cash problems may very well come up . If you did manage to close on it you would be acquiring a home with a problem. When and if you want to re sell the home again, the burden would then fall back on you to get the addition legalized . Sometimes people do work on their homes that just cannot be legalized do to floor area ratio or lot size restrictions. Always consult with your attorney prior to getting involved with a property that may have illegal additions. ... more
1 vote 3 answers Share Flag
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