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Home Buying in Bellmore : Real Estate Advice

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  • Home Buying5
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Activity 11
Wed Aug 26, 2015
Oleg Volfman answered:
Hi Persaud.

From what you wrote, I did not see if you were buying this with mortgage or cash? If cash, you pretty much stuck, if mortgage, there might be a way.

Good Luck.
0 votes 3 answers Share Flag
Fri Aug 7, 2015
mpersaud74 asked:
My mother signed on to purchase a pre-construction house that had an open floor plan that would be perfect for my father who is paraplegic. We asked for upgrade cost before contract…
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Tue Apr 8, 2014
robert kipnis answered:
First - None of my neighbors homes are being razed - I have lived here for the last 40+ years - On the Water with no Sandy damage - the only razing is for renovation and improvement. Some older homes that were built at a much lower elevation were hard hit in some cases.
As for 10,000 Sq.Ft. of gross living area (GLA) there is only one home I can thinkof. It is not on the market but would probably sell for upwards of 2 million.
The market here is extremely strong. The media depiction of this area out of this area will only show that which is going to sell views or papers.
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Tue Apr 8, 2014
robert kipnis answered:
First - None of my neighbors homes are being razed - I have lived here for the last 40+ years - On the Water with no Sandy damage - the only razing is for renovation and improvement. Some older homes that were built at a much lower elevation were hard hit in some cases.
As for 10,000 Sq.Ft. of gross living area (GLA) there is only one home I can thinkof. It is not on the market but would probably sell for upwards of 2 million.
... more
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Thu Apr 25, 2013
answered:
Good afternoon Robert,

I've been helping First Time Buyers for 23 years as a mortgage professional and I will tell you what I have always told my clients here in New York: If you are a First Time Buyer, steer clear of foreclosures and short sales.

Foreclosures are someone else's headache. The home probably has not been well-maintained and you're a First Time Buyer adjusting to paying a mortgage. Do you really want to walk in the door to someone else's deferred maintenance that YOU will have to pay for? Also, if you're thinking there are deals to be had in terms of lower prices, mostly those "deals" go to professional investors who can pay cash, negotiate hard with a Lender, and close fast.

For Short Sales, my attitude of late is that First Time Buyers should steer clear. Short Sales tend to be a better deal for the homeowner than for the Buyer. You'll wait MONTHS for the homeowner's Lender to approve the short sale; maybe as long as Six or Seven Months. Meanwhile, you're stuck in a contract to buy that home. I closed a short sale recently with a Buyer who, after seven months said this at the closing table, "I don't even want this house anymore."

And he didn't even get the "deal" on price he thought he was getting! The house appraised for only slightly more than he paid for it at the short sale price. He walked into this deal thinking he was buying a home for $100,000 less than it's value. In the end that wasn't the case.

There are plenty of motivated Sellers with their homes listed on your local MLS. Go find a good Local Mortgage Banker, get prequalified, then find a great, experienced Realtor, and buy the home you want at the price you're willing to pay.

Trevor Curran
NMLS #40140
Mobile: 516-582-9181
Office: 516-829-2900
Fax: 516-829-2944
PowerHouse Solutions, Inc.
1010 Northern Blvd. Suite 234
Great Neck NY 11021
Licensed Mortgage Banker – NYS Dept. of Financial Services
NMLS#3528

*If you thought my answer was helpful, please give me a “Thumbs Up” or “Best Answer.” Thanks!
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0 votes 18 answers Share Flag
Tue Dec 18, 2012
John Sacktig answered:
Emily,

If the Bank number is 100k more than you offered, then it sounds to me that your offer was extremely low. I do short sales, they are not that bad. But, most buyers think that just because it is a short sale the bank will take anything to get the house off their books. Not true, not true at all.

There are numbers involved here.. and if it is 100k more that number had to come from someplace and most likely an appraisal, which was probably low for the area as bank appraisals have been coming in pretty low... I have seen people come into an area that has 800-900k homes..now really valued in this market at 700k and wanting to offer 400k stating, well it is a short sale and "the bank should just take it" This is not realistic and does not work.

Hopefully you did not waste money on an attorney and inspections without an approval.. as none of that is necessary until the bank says they will accept your offer. Agents push to do this and people get a false sense of security that their offer will be accepted. The only people that get what they want is the attorney and the inspector.

Email me, I am curious, what is the house listed for and what did you offer? What is owed on the home? Did the agent pull the comps for you before you made an offer? Did you just go with your number hoping that you would get it? Important details on that offer that you made.
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Wed Dec 12, 2012
Team Mork answered:
anything is possible but if the property is a short sale and the bank came back at 335k you will most likely not be able to work to much under that price.
0 votes 3 answers Share Flag
Sat Jun 9, 2012
Fajardo Delacruz answered:
We wolud have to check with the town of Bellmore.
Please just give me a call as soon as you can.

Thank you.
Fajardo Delacruz
Licensed Real Estate Agent
Century Homes Realty Group llc
Direct Line: 347-932-0609
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Wed Apr 28, 2010
Geri Sonkin answered:
I would say no. I've been selling real estate in Bellmore for over 24 years and I've never seen a mobile home in town. I don't know if you've attempted to purchase land in the Bellmores but lots here, or tear downs are not that inexpensive as to make it economically feasible anyway. If a mobile home is your choice I would find out where existing communities are and go that route.

Wishing you luck in your search.
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Sat Nov 15, 2008
Allen Bauman answered:
Did the seller fill out a property disclosure form? If they did and indicated there was nothing wrong with the house then they may bare some responsibility. The seller (in NY) however can refuse to fill out the form but then you would have been credited for $500 as required by law. Either way it should have been disclosed in the title report which should have been reviewed by your attorney. If it was in the title report then you should get a new real estate attorney and have him/her look into who is legally responsible. If it is not in the title report then the title company may also be liable. Either way you should get a new real estate attorney to review all your closing documents to find out who bears responsibility. Since I am not an attorney I must tell you that everything I have just told you is not a legal opinion. (Ain't NY grand?) ... more
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Sun Nov 4, 2007
Gail Gladstone answered:
According to "My Nassau Properties", the Adjusted Market Values by which they assess school taxes, is showing $419,600 for 07-08 and $444,400 for 08-09. Please understand, this has NOTHING to do with market value some would be willing to pay for this house. Assessed value is always the highest appraisal so the town can charge more tax. No relation with reality. ... more
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