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11205 : Real Estate Advice

  • All21
  • Local Info3
  • Home Buying7
  • Home Selling2
  • Market Conditions1

Activity 16
Fri Nov 21, 2014
Anna M Brocco answered:
Other expenses may include homeowner's insurance, utilities, any association dues if applicable, your personal expenses, any maintenance costs, etc. Be mindful you will also incur inspection costs, title fees, survey, etc. For more details ask your agent and or attorney the question. ... more
2 votes 2 answers Share Flag
Sun Mar 2, 2014
Daria Kolomiiets answered:
Good afternoon, Zane!
Fort Greene neighborhood is great! But you should check also a Clinton Hill area. There are pretty good areas. First of all you should find some answers on main questions: what is your desirable sq ft of the apartment; which subway lines you need to be near to or whether you need it in general; do you need to be near a school area etc.
Wish you good luck!
... more
0 votes 13 answers Share Flag
Sun Jan 5, 2014
Rhonda Holt answered:
Selling co-ops are my niche for over 8 years in Brooklyn and I have never heard of any shareholder only having 1 share, never heard of a 50% resale fee usually its only 1-2% in fees closing, contribution and move out fees and there maybe an additional flip tax fee (this fee does not exist for all co-op buildings) that is usually 1-2% of the resale price.You need to get your hands on the offering plan which you should have and it will contain the by-laws any amendments to the bylaws and the proprietary lease. Either you or a real estate attorney can look it over for you for a small fee to tell you if the board has the right to make such extreme changes.


Better yet, The Business Corporation Law (BCL) is the main New York State law which governs how co-op corporations must operate. The decisions made by courts in cases involving BCL provisions are the case law which interprets the statute. You can find the BCL in libraries which is a great place to start to finding out if your co-op board is following legal procedures.

I hope this answer helped you and if you would like to speak to me more about it feel free to email me or call me directly.
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0 votes 3 answers Share Flag
Fri Dec 13, 2013
Mitchell Feldman answered:
Dear Cummingski:

What your describing does not sound right, fair or logical. I suspect you may be leaving out important details or mistaken. Quite often a co-op will have a flip tax or transfer fee that a seller typically pays when they sell their co-op. However, if these fees are too high, it diminishes the value and desirability of the co-op and hence will lower the sales prices in that particular co-op.

Such policies do benefit the co-op and the co-op owners because they bring in more money to the co-op which comes at the expense of people leaving as opposed to people staying. But if those fees are too high it can render your co-op unsalable down the road! You need to investigate further.

Tread cautiously. If you have more questions or want to discuss this further, please 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
1 vote 3 answers Share Flag
Thu Oct 10, 2013
Annette Lawrence answered:
As Bill pointed,
YOUR PURCHASE OFFER AMOUNT may be what determines if it will be a short sale.
If your offer was at FULL LIST PRICE, then 'third party approval' should have been stated.
Furthermore, the instrument of onwership WILL also influnece how and what is disclosed.
Probate and trustee sales are also third party approval sales.
There is WAY TOO MUCH we do not know!
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Please resist attempting to place blame.
Conslult your real estate professional, Your agent has access to all the real information, not the fragments you have provided.
If you want to buiy the house...do what you need to do.
If you don't want to buy the house...move on.
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Your purchase offer did specify a 'closing date.' Be prepared to walk if the closing date can not be met or the justification is nebulas.
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Surely we don't have the details to provide 'actionable' direction.
However, your agent does. What does your agent say?
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0 votes 6 answers Share Flag
Wed Sep 18, 2013
Jonathan Robert answered:
Hi Laura please email or call me with anyquestions or concerns..
0 votes 4 answers Share Flag
Mon Jul 8, 2013
Anna M Brocco answered:
Why not simply shop around and ask for free estimates, rather than relying on guesswork....
0 votes 5 answers Share Flag
Tue Jan 8, 2013
Javier Meneses answered:
Yes. But that's something totally different from an FHA loan. If you want some info, take a look at the link here. You can also email me with any questions. There are several things that you want to look out for. SONYMA has their own income requirements and also have requirements for their grants, even for after you close. ... more
1 vote 10 answers Share Flag
Tue Jan 8, 2013
Rhonda Holt answered:
Well it's always better to have your agent with you at the beginning of a deal instead of including one after you already saw the place and did not inform him or her. But having an agent represent both sides is extremely common in New York but you will be presented with dual agency paperwork to sign so you know the agent is working both sides as fairly as possible.

Try and see if the selling agent will go for you including in an agent and see how it goes.
... more
0 votes 6 answers Share Flag
Tue Jan 8, 2013
Rhonda Holt answered:
Hello, right now we have seen prices go upwards in the last few months and especially since the Stadium has been completed. Prices do not drop in every location equally, in Brooklyn we have seen a increase and less low price deals like before. If you can get a deal now while the interest rates are still low as well then you may want to go for it.

Remember, nothing this good lasts forever so don't miss the boat, jump on and ride the wave while you still can.
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0 votes 4 answers Share Flag
Tue Nov 2, 2010
Anna M Brocco answered:
Although it appears that the monthly rent may be a misprint, if interested in the unit click on the contact the agent tab, under it's description-- or any local agent can help you, contact any realty office and inquire. ... more
0 votes 1 answer Share Flag
Thu Aug 13, 2009
Michael Dvorkin answered:
After doing research I thought I would inform everyone what I have learned-- in NYC (Brooklyn), it costs between $15,000 to $20,000 and can take 3 or 4 weeks.
0 votes 1 answer Share Flag
Sat Apr 5, 2008
M answered:
Zack,
Point very well taken and very well presented!. All realty estate has always been "not the best investment". As you point out, the data averages out the % decease. The data however does not identify by specific area which will be more or less. New York is a prime example of the entire country. Some areas are doing fine and right down the street you see major problems. From example I just received an article stating that the Treasure Coast of FL may be leveling off...wouldn't this be nice!
Thanks again
... more
0 votes 3 answers Share Flag
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