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11232 : Real Estate Advice

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  • Local Info1
  • Home Buying4
  • Home Selling1
  • Market Conditions1

Activity 13
Sat Apr 1, 2017
Kathy Burgreen answered:
As a former realtor, it is all pros. There are no negatives renting in a co-op building. Unfortunately you need to beware that most co-op Boards do not allow rentals OR they restrict the number of apartments for rent. Therefore, it will be tough finding a rental in a co-op building. You may have better luck in a condo building because they allow rentals more frequently. ... more
0 votes 1 answer Share Flag
Wed Dec 4, 2013
Mitchell Feldman answered:
Dear Caitlinkerker:

Basically, when the appraisal comes in short, the bank will refuse the loan thus giving the buyer the legal right to cancel the deal and get their down payment back (this is assuming you have a mortgage contingency clause in the contract of sale).

You can try to renegotiate the price after the fact, however, the seller has no obligation to lower their price. In situations like this there are several different remedies. Firstly the seller can lower their price. Secondly, the purchaser can raise their down payment. Thirdly there could be a combination thereof where both the buyer and seller contribute to make it work.

That being said, it all depends on how goods of a deal you are getting. If the property is a hot property, the seller may have several back-up offers whereby he or she would sooner move to a new deal rather than lower their price.

If you want to discuss this further or need further assistance, feel free to contact me direct. Good luck!

Sincerely,
Mitchell S. Feldman
Associate Broker/ Director of Sales/ e-Pro Realtor
Fillmore Real Estate
Office: (718) 252-2000/ Cell: (917) 805-0783
Email: MitchellSFeldman@aol.com
... more
0 votes 6 answers Share Flag
Mon Jul 29, 2013
Jose Garcia answered:
In addition to owner occupied, the maintenance is base on the prices that owner occupied verse tenant occupant because the lower the maintenance also plays a role in the price the building per apartment gets. ... more
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Sat Jul 13, 2013
Melissa Goss answered:
The cash investors won't just be sitting on a waiting list looking to work with you, that is for starters. In fact most investors I have come across tend to stick to the same agent for years on end. The only time I have personally come across any is when said investor and realtor no longer have a good relationship. They sort of break up. Split if you will... and the investor seeks out new agents. It's really a luck of the draw sort of thing.

The best way, in NY for me to gain new cash investors is to just advertise the heck out of your area. I foot farm- place ads on door knobs, etc etc. Holding open houses has also helped me meet new investors.

Good luck- and best wishes to you
... more
0 votes 4 answers Share Flag
Wed Apr 24, 2013
Carol Martin asked:
I live in South Plainfield NJ and am disputing my property taxes. ll, How do I go about making the adjustment retroactive. I purchased the property in 2009?
1 vote 0 Answers Share Flag
Fri May 4, 2012
Robin Silverberg answered:
Small correction Rhonda, that is 1-4 family. 5 or more is commercial. And yes, commercial generally requires at least 25% down.
0 votes 9 answers Share Flag
Tue Apr 26, 2011
David Rogoff and Bonnie Chernin answered:
Have your agent prepare a CMA so you have a general idea of value and approximate gross sales price.

Your accountant / attorney can assist with the estimates of closing costs at various price points so you'll have a better idea of your net proceeds both before and after taxes. ... more
0 votes 24 answers Share Flag
Tue Jan 4, 2011
Rhonda Holt answered:
I'm known as the co-op and condo queen in my office, feel free to check out my website that explains the differences and payment structure.

If you have any questions or you�39;re interested in buying or selling a co-op or condo feel free to call or email me. ... more
0 votes 12 answers Share Flag
Thu Mar 11, 2010
The Appraiser answered:
Get your appraisal out from your purchase. Compare the square feet to what is on the tax card. They may combine the finished basement (If you have one) with the heated living area above grade. (HUD, VA, Fannie Mae and Freddie Mac must have these areas separate for evaluation.) The local Tax Assessor adds this together to get a higher assessment and Tax Rate.

If that information is WRONG by at least 10%, you can get a refund for the past 3 years, (If you Ask)

Then get a local realtor or an Appraiser to pull comparable sales. Not Sales, COMPARABLE SALES. (Homes similar to yours that have sold in the past 2 years). Then do the calculations for a new value estimate.

Follow the rules your County or local tax authority has for your appeal. You can do this yourself, until they want to play hard ball. Then get a qualified Real Estate Appraiser to help. After that you may need to get your Attorney involved. see www.FairTaxAppraiser.com for more information.
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0 votes 9 answers Share Flag
Thu Nov 5, 2009
Alen Moshkovich answered:
Hi Merle,

Are you looking to sell your home in Sunset Park? I am very familiar with the area, currently live on Fort Hamilton Parkway, and before that I used to live on 9th and 47th. My good friend works for Ben Bay Realty, and I would be happy to come down with her and discuss our marketing approach. We could probably do a co-exclusive, which means that two brokers/ two firms would represent you. Double the exposure.

Please let me know if that's something of interest to you and if you would like to get together to discuss further details.

All the best,
Alen
... more
0 votes 3 answers Share Flag
Mon Apr 20, 2009
Thomas McGiveron answered:
So in brookaleen huh - 2 fam foreclosure?
0 votes 3 answers Share Flag
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