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Home Buying in 11572 : Real Estate Advice

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  • Local Info0
  • Home Buying8
  • Home Selling2
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Activity 7
Thu Mar 3, 2016
Ben Link answered:
I don't even understand your question.
Did the sale close?
If so, did you get a mortgage?
If you did, you got title insurance.

The title insurance will probably absolve you of any responsibility of previous liens, but I am not a legal expert. Contact the title insurance company. The mortgage lender would not allow the transaction to close without a clear title - clear of any liens on title. ... more
0 votes 10 answers Share Flag
Sun Nov 24, 2013
Brenda Feria answered:
That is a good question. My guess is that the seller has no idea how difficult it is to set up an appointment to see the property they have entrusted him/her to sell. That being said, you would think that they would want a sale and the only way to do that is to allo it to be shown! it is a frustrating situation for everyone involved. ... more
0 votes 18 answers Share Flag
Tue Sep 24, 2013
Laura Feghali answered:
Hi Jim,
You can change your password yourself in your profile. Hover your mouse over your name in the upper right corner of the screen and a drop down menu will appear with a tab "Profile". Click the edit button on the left and a new window appears to edit your profile which includes a tab to change your password.

Hope that helps!

Laura Feghali
Prudential Connecticut Realty
An Affiliate of Berkshire Hathaway HomeServices of New England
... more
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Mon Aug 5, 2013
John Roberts answered:
Did the ad say Legal Two Family? Do you have anywhere in writing it is a Legal Two family.

Half the two families in LI are not conforming, are mother daughters etc.
0 votes 7 answers Share Flag
Tue Jun 19, 2012
John Williams answered:
Good morning Louise,

First thing first, you wouldn’t do a home inspection prior to the owner accepting your offer, because you would be sending money on home inspection without knowing if the owner “will” accept your offer.

So, first you get an accepted offer, then do your inspection, and then if there were no major issues to be discussed after the home inspection, you would proceed to formal contracts.

Now as far as your deposit goes, (down payment for formal contacts), that is negotiable.

Generally speaking, it would be somewhere between $10,000.00 and $25,000.00 up to about $500,000.00 purchase.

This is due to the fact that in a cash purchase, there IS NOT a mortgage contingency in the formal contracts, this means you WILL NOT get your deposit moneys back if you do not close on the sale - discuss this with your Realtor and attorney, they will advise you as well.

I don’t know if you have chosen a Realtor to work with as of yet, but make sure that they can answer these questions before you work with them and also be sure to chose an attorney who specializes in Real Estate transactions.

If you like, I could refer a couple excellent Real Estate attorneys to you.

As for Realtors, there is only ONE Realtor I would refer to you, LoL!

I hope this info was helpful to you and good luck!!
... more
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Wed Feb 8, 2012
Gregory Verity answered:
Bank owned properties / REO (real estate owned) properties can be usually be bought at or below market value, thus being a good buy. Some of these properties are renovated as the banks understand that this will enhance the timeline of the sale. However, it is not the norm and you should be prepared to do renovations on your own. Still they are very much worth looking into. The second part of your question is regarding condo verse two family purchase. Apples and oranges, my friend. The risk factor with the two family home is that your mortgage payment does not change when your apartment goes vacant. You must be able to carry the payment even if the unit remains empty for several months. The condo is more of a care free lifestyle with a turn key effect. The square footage for the two family apartment and a condo might even be the same depending on the buildings. Both are "real property" with real ownership qualities. Happy House Hunting! ... more
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