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Home Buying in 11561 : Real Estate Advice

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  • Local Info2
  • Home Buying25
  • Home Selling2
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Activity 24
Fri Apr 22, 2016
Louis answered:
Everything is negotiable.

An easy way to handle this is to make the deal contingent on the seller rebating 3% to you at settlement.

Just remember that no matter what a real estate agent tells you, they are putting their own interests first. It's up to you to put your interests first. ... more
1 vote 25 answers Share Flag
Fri Aug 7, 2015
Kathy Burgreen answered:
This is a public forum answered by homeowners, real estate agents & other people interested in real estate. Its not answered by Trulia employees. Therefore, unless somebody lives in the area of Lido Towers, nobody on this forum will have an answer for you.

As for a reverse mortgage, you must be 62 yrs. or older to qualify + you must have equity in your home.
... more
1 vote 1 answer Share Flag
Tue May 19, 2015
Gayle Sabol, Sabol Associates answered:
Hi Alan,

As everyone has already mentioned, a Realtor who specializes in condos is your best bet. As a Realtor who has run an on-site sales office for over 30 years in Clinton, MA (central MA), I know that it is very important to have up-to-date information on the association, condo fees, etc. before selling. Also, you might have a specific style of unit that is particularly unique or desirable (upgrades, number of bedrooms, location in the association, etc.). This is also an important factor to take into consideration.

If you have any questions, please do not hesitate to ask.

Thanks,
Gayle Sabol
978-407-8656
gaylesabol@kw.com
... more
0 votes 5 answers Share Flag
Tue May 19, 2015
Gayle Sabol, Sabol Associates answered:
Hi Ashley, great question!! To find condos that are FHA approved, please visit this website: https://entp.hud.gov/idapp/html/condlook.cfm

This is the federal government's website which lists condo associations up to date on their FHA approvals. If you have any specific questions about condos, I would be happy to answer your questions. I have run an onsite sales office in Clinton, MA (central MA) for 30 years and I am very knowledgeable about condos. I hope I can help!

Thanks,
Gayle Sabol
gaylesabol@kw.com
978-407-8656
... more
0 votes 1 answer Share Flag
Thu May 29, 2014
Richard L Bradshaw, Jr answered:
The Listing agent has a duty to represent the Seller and get the best value for the Seller. If you are working directly with the Listing agent, the agent cannot give advice and counsel to you that would hurt the Seller's position. It is best to ask for and Intermediary agent to represent you in the transaction or hire your own Buyer agent from another Brokerage. Commissions are generally paid by the Seller in the transaction. If you need a referral, please contact me as our company works with a nationwide Brokerage referral network. Richard.bradshaw@garygreene.com ... more
0 votes 25 answers Share Flag
Thu May 8, 2014
Malgorzata Ringston answered:
Whether you apply to a bank or use mortgage broker there are advantages and disadvantages with each strategy. Compered to mortgage broker, bank might have less mortgage options available and also banks they are more conservative and selective when lending. The biggest advantage of mortgage brokers is that they know the business. Broker save you time they handle paperwork,this is for you saving of time ,work and stress. Also the can frequently reduce the processing time of an application. Each person must take this important decision based on the individual situation, you should speak with friends, family members and professionals who have been through the process. ... more
1 vote 9 answers Share Flag
Tue May 6, 2014
Gil Shemtov answered:
Sat Jan 18, 2014
Sanjeev Ahuja answered:
If you have received 1099 for 2012 and 2013 I may be able to help. My contact information is given below.
Thanks,

Sanjeev Ahuja, NMLS #148731
Mortgage Broker
Home Funding LLC
110 Jericho Turnpike Ste 214
Floral Park, NY 11001
Direct Phone 917-517-2552
NYS Registered Mortgage Broker, Dept of Financial Services, Loans arranged through third parties (NMLS # 885573)
... more
0 votes 5 answers Share Flag
Fri Apr 19, 2013
John Roberts answered:
I just bought a home in a similar circumstance. I went to contract, my bank would not lend to a damaged place. I then went back to seller asked for money off house to do a cash deal and waive mortgage contingency clause.

Which he did, so now I am closing very soon at a great price.

Most people don't realize you can get a mortgage after you close within a set time period and still be treated as a normal loan that is fully deductible. Or you can do a HELOC vs your primary, a margin loan, 401k loan, bridge loan or bank of Mom and Dad. Or maybe you just have money sitting in bank earning zero.

The amount you can get off to do a "cash" deal even if you are getting a mortgage after closing is worth it.

I got six years worth of the mortgage deduction in a discount for cash plus saved around 4k in closing costs. With Stocks and bonds at highs and banks paying near zero cash is becoming popular.
... more
0 votes 6 answers Share Flag
Fri Sep 21, 2012
De Vonte Williamson answered:
Hello Mor1179. I commend you for your interest in selling your home. We are seeing home prices rise here on Long Island, as well as Queens. Your question is very common. However, I cannot give you a solid answer. All Brokers have their own way of doing things, and thus--their commission rates will reflect their services. Commission is always negotiable between Broker, and you; the client. Please remember, that you get what you pay for, and I strongly suggest that you choose someone to represent you who is in Real Estate full-time. Set up a no obligation consultation with a few agents, and see what they can offer you, in addition to their fees. Pick the one that you feel will work hardest for you, and has your best interest at heart.

I hope this answered your question! If you have any further questions, please feel free to contact me by the ways below.

Wishing you the best of luck,

De Vonte Williamson
Licensed Real Estate Salesperson
Proudly Serving Long Island
Coldwell Banker Residential
Direct:(631)638-6193
Mobile: (631)384-3695
cbmoves.com/DeVonte.Williamson
http://devontesellsny.wordpress.com/
"I Stand Behind Getting You Results!
... more
0 votes 7 answers Share Flag
Sat May 5, 2012
Mello1978 answered:
I have an attorney. But this lady keeps pulling these stunts on me
0 votes 5 answers Share Flag
Tue Jul 19, 2011
Anna M Brocco answered:
When it comes to any safety concerns, your best source of accurate information is the local police department; therefore consider a visit/call and ask all your questions, hear all there is to hear firsthand; if unfamiliar with the area, do revisit more than once and at different times of day, possibly chat with neighbors/locals; real estate professionals are prohibited from steering, enticing a buyer to purchase, or not, in specific neighborhoods. ... more
0 votes 1 answer Share Flag
Mon Mar 28, 2011
CamilleD answered:
No. If you have the proper credentials that the bank wants, you can do it.
However, today the interest rate on a commercial loan is much higher than a residential
loan. In your search for an investment property you should look for properties that are available
that have assumable mortgages. In the real estate investment world there are
properties like that out there. This way the interest rate is lower than what is being offered today.
I purchased one like this using an LLC about six years ago.

Good Luck and don't get discouraged.
... more
0 votes 3 answers Share Flag
Tue Jul 27, 2010
Janet Nation, CBR answered:
I think it should have been made super clear to you from the start by your agent and attorney that the monies were not refundable if the board rejected your application. One of the reasons why some buyers shy away from coops is because the board doesn't have to explain the rejection and they keep your application fee. I feel your pain, but It's not worth the fight, pay the attorney, you know better next time. ... more
0 votes 7 answers Share Flag
Fri Jun 4, 2010
Anna M Brocco answered:
If you are comfortable not having your own representation, then yes, you can work directly with the listing agent.
0 votes 6 answers Share Flag
Thu Jun 3, 2010
Scott Godzyk answered:
Unless you are an experienced investor with knowledge of real estate and real estate law, you should use a buyers agent, which in most cases costs you nothing extra as they get paid their fee from what the listing agent offers in mls to them.

If you do not want an agent, you will at least need an attorney to review your contract, search the title and conduct your closing for you.

good luck with your purchase
... more
1 vote 4 answers Share Flag
Sat Oct 3, 2009
Gail Gladstone answered:
1) Last time I checked, this was a free country. You can work with any Realtor you wish to, as long as you did not sign an exclusive contract with someone. If you have, cancel the contract as of now and get on with your home search. I do recommend, however, that you find a Realtor who will work for you and represent YOUR interests. The listing agents work for the sellers, not you.
2) the listing you found on your Realtor's website is due to what we call reciprocity; it does not lock that listing to your Realtor.
3) Hopefully the other Realtor presented your offer to the seller (who is the only one permitted to accept an offer). But again, find a Realtor you can trust and who will really work for you...it is in your best interest to have your own representation...someone who has a fiduciary obligation to you and not the seller.

Feel free to call or email me directly for any further explanations. 631-425-6150 Gail@GailGladstone.com
... more
0 votes 7 answers Share Flag
Fri Sep 4, 2009
Sean Hess answered:
Your Realtor can help you determine the best market price for a home based on what has sold (and what has not sold).

The thing you have to seperate in your mind is "list price" and "market price." You can't be concerned about how much you get off the list price if you're looking for a good deal. What you need to be concerned about is where the list price is in relation to the market price. If the home is priced well, especially if it's priced under market--and you know it--then jump on it.

You are going to feel really stupid if you found the house of your dreams--listed below market---and then lost it because you tried to lowball.
... more
0 votes 15 answers Share Flag
Tue Aug 18, 2009
Rosie West answered:
Hi,
If this issue came up on the title report the title company or the bank may not close the loan. if it is not a problem for the bank your lawyer should insist that the seller's attorney hold a specific amount of money in escrow until a certificate of alteration has been issued to you by the seller. This means that the seller has to file for a permit with the building department and have a plumbing and an electrical inspector sign off on it. if everything is up to code they will issue a certificate of alteration.
If you close without the above process you will be required to legalize the bathroom before you sell the house. I hope you have a good attorney.
... more
0 votes 7 answers Share Flag
Thu Aug 13, 2009
Elizabeth Lowery answered:
If the asking price is $345,000.00 and you are qualified for $250,000.00 do you have the difference to purchase the house at the asking price? The Realtor has an agreement with the seller unless you have a buyers broker working for you, ultimately we want to get "a meeting of the minds" ... more
0 votes 8 answers Share Flag
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