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11236 : Real Estate Advice

  • All39
  • Local Info3
  • Home Buying22
  • Home Selling0
  • Market Conditions0

Activity 36
Fri May 27, 2016
findanewjob2010 asked:
Hello Trulia,
I love Trulia because it gives great detail when trying to make a decision wher to move. Why did you remove the feature of CRIME: Low, High, Highest. It is a very good detail…
0 votes 0 Answers Share Flag
Sun Mar 20, 2016
lk asked:
Tue Nov 24, 2015
Bill Burress answered:
Seek the advice of a credit repair specialist. Do not go it alone. The algorithms used by the credit agencies are too complex and forever moving. Loan officers don't always have the answers either because they are typically not paid to do credit repair. Logic does not always prevail when trying to establish credit. For instance paying off old collections, closing credit card you aren't using or paying off some old judgments all may actually lower your credit scores. Seek the advice from professionals who assist in helping people improve their credit every day. ... more
0 votes 3 answers Share Flag
Wed Nov 4, 2015
Ruth and Perry Mistry answered:
Get the name from county records.

Then Get a PI or an attorney.
0 votes 1 answer Share Flag
Thu Apr 2, 2015
Kathy Burgreen answered:
I can think of several issues:
1. Your broker wants cash to avoid reporting the fee as income and avoid paying taxes on it or reporting it to the brokerage firm and having to split the fee with another broker.
2. Did you sign a broker agreement and did your broker explain the fee to you and form of payment? Did your broker suddenly tell you to pay in cash after the agreement was signed?

In either case, you have the right to pay your broker with a bank or certified check or money order. Never pay in cash. If your broker refuses, you deserve a truthful explanation why you need to pay in cash. Explain to your broker that you have the authority to notify New York State Department of Licensing and your local Board of Realtors that your broker took an oath to obey the Code of Ethics and to uphold his/her fudicuiary responsibility. Professional licensed brokers don't accept cash as a form of payment unless its for a service outside a transaction. All broker's fees to close a transaction are paid by bank or certified check.

I am a retired real estate salesperson.
... more
0 votes 1 answer Share Flag
Wed Mar 25, 2015
Brian Sadighpour answered:
It basically means they didn't record the mortgage which is in your benefit. The deed must have been recorded by your attorney. do not give your loan documents to anyone... Means there is you collateral on your property. You can sell your property and bypass paying the bank a dime. ... more
0 votes 4 answers Share Flag
Wed Mar 25, 2015
Luke Constantino answered:
My friend/real estate lawyer can answer that, free of charge:

Joseph R. Sorrentino, Esq.
6317 Avenue N
Brooklyn, New York 11234

If you need anything real estate related afterwards, feel free to call or text me:

Luke Constantino
(212) 300-3919

Good luck.
... more
0 votes 4 answers Share Flag
Tue Dec 9, 2014
Williamlariluswl asked:
Can I buy a 490000 home I make 52000 a year if I put 20% down the home is a 2 family my score is 645 I had a bankruptcy 4 years ago
0 votes 0 Answers Share Flag
Wed Oct 1, 2014
Paul Marzolla answered:
You are certainly eligible to refinance right now; all property types would be fine. Since it's the beginning of the month it's absolutely possible to close before your next payment is due; wouldn't that be nice?

I recommend that speak so we can weigh-out all of your options and determine which loan offers the greatest financial benefit for your lifestyle. Additionally, we will go over how the refinance process works from start to finish, expectations, and most importantly the amount of money you can expect to save on a monthly and yearly basis.

Please contact me at your earliest convenience so we can begin exploring your options, I may be reached directly at (201) 957-6768, or via email at I look forward to hearing from you.

Kind regards,

Paul Marzolla
Vice President
Direct: (201) 957-6768

Licensed by New York Department of Financial Services
Member of NAMB - The Association of Mortgage Professionals
Member of New York Real Estate Investors Association
... more
0 votes 1 answer Share Flag
Tue Apr 22, 2014
Rudy Batista Graham answered:
I am currently working with a client who is relocating to Manhattan, in I New York City.

If you can tell me more about your Plans I may be able to help, depending on your particular

Best Regards

My contact in is; Ruddy A. Batista Graham
Sommerlyn Associates
247 W 30th Street Suite 7R
New York NY 10001
... more
0 votes 2 answers Share Flag
Mon Mar 24, 2014
Joseph Runfola answered:
Rent to buy may also be called Lease to Buy; Renters pay a certain amount each month to live in the house, and at the end of an agreed upon period they have the option to buy the house. Each month of rent they pay is income for the seller, while a portion of it goes toward a down payment to eventually buy the home. Be aware that many contracts in rent-to-buy situations disallow late rental payments from counting toward an eventual sale. People with on time payment issues might lose equity when making late payments. Before you enter into this sort of arrangement talk long and hard with your real estate attorney, consider all the liabilities, and have a complete understanding of what's involved. Rent to buy can be helpful, but shouldn't be entered into by anyone who isn't serious about eventually buying the home. Seek legal advice from a licensed NY Attorney because this could end up costing you more money in fees, and above-market rent payments, and a complete loss of all up front fees. ... more
0 votes 1 answer Share Flag
Mon Mar 24, 2014
Kathryn Lilly answered:
Coming up with the down payment money is like wanting to loose weight! It takes work and discipline as well as realistic expectations.
1.) do not be in high rent apartment, compromise, save your money.
2.) Do not expect to buy your dream home in your first purchase.
3.) Cut your budgets on everything and keep your mind on your goal.
4.) Pool all your savings and retirement funds; that can be used for the purchase of a primary residence without penalty.
5.) Your first purchase is a co-op; closings costs are cheaper and will be easier to resell if you buy into the right building. A condo if it becomes full of investors, owners renting them out, will not be saleable.
6.) If you bought the right apartment in the right neighborhood, make some improvements and sell at a profit. That is TAX FREE money towards your bigger down payment.

I have client who bought & sold three apartments before she settled into her dream house. She bought filthy, dirty apartments that did not show well, but they were in great buildings in good locations. All she did was clean, scrub and wash the windows in her first apartment. That was in 2007, she made $50,000 profit, the next apartment she made over $100,000 profit,.... by 2012 she had $400,000 for a down payment on a two family in Lefferts Gardens....she is staying put for a while now.

Kathryn Lilly, Broker'
Realty on the Greene, LLC
... more
0 votes 5 answers Share Flag
Thu Nov 14, 2013
Aubrey answered:
I know of the condo you are talking about. My company has the info you need. Please call 718 272 8988. Ask for WALKER
0 votes 2 answers Share Flag
Wed Oct 30, 2013
Phillip Benn answered:
Hi Beaucharme05,
I have units available in Canarsie.
Please contact me at your convenience?

Phillip Benn
Kings Realty Professionals
7219 Ave N
Brooklyn NY 11234
Cell: 347-526-3501 ... more
0 votes 2 answers Share Flag
Mon Jun 17, 2013
Mitchell Feldman answered:
Dear Ramon:

A deal is not completely solidified until you have a legally binding contract. In order to have a fully executed legally binding contract you would need to have signed the contract of sale and returned said contract and down payment check to the seller's attorney. The the seller has to sign the contract, deposit your down payment check and the fully executed contract must then be received by your attorney. At that point there is no turning back by either the buyer or the seller.

At that point there is still not a 100% guarantee that you will close, especially if you are getting a mortgage. However, at that point the seller would be obligated to you in a legal fashion. Prior to that point in time, either party can back out of the deal on a whim. I will add that usually it is the buyer who backs out and not the seller, but if the seller gets a higher or better offer than your, he or she is within their legal rights to go with another deal if you are not in contract.

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

Mitchell S. Feldman
Associate Broker/ Director of Sales
Madison Estates & Properties, Inc.
Office: (718) 645-1665/ Cell: (917) 805-0783
... more
0 votes 7 answers Share Flag
Mon Jun 17, 2013
Michael Richman answered:
Hi Vanessa,

The only to put ownership of the house in your name is to do a deed from your sister to you. This involves having a lawyer prepare the deed and have it recorded in the public record. While this is not free, the cost is relative ly minor.

Michael Richman
Licensed Real Estate Associate Broker
KIAN Realty
450 7th Avenue Suite 1501
New York, NY 10123
212-757-8268 x220
... more
1 vote 8 answers Share Flag
Sun Jun 2, 2013
Makeda Paul answered:
I have a newly renovated private home fully furnished (With bed, appliances, furniture & more)1 bedroom apartment for rent! Newly renovated a showplace! Heat & electric included! Will not last! For Rent ONLY $1,000.00 per month! Call for details! ... more
0 votes 1 answer Share Flag
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