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11229 : Real Estate Advice

  • All31
  • Local Info0
  • Home Buying11
  • Home Selling12
  • Market Conditions0

Activity 28
Sat Nov 5, 2016
Kathy Burgreen answered:
Technically no, but it is common in NYC because investors and owners know they can cut corners and get away with it. Rents are very expensive, so as a way to have cheaper rents, bathrooms will have a shower stall instead of a bathtub; there will be a kitchenette instead of a full size kitchen; there will be a living room/dining room combination; etc. Every inch of space comes at a price, so the smaller apartment will be cheaper than a larger size apartment.

Have you tried looking in Nassau County? Apartments are larger and cheaper.
... more
0 votes 1 answer Share Flag
Thu Mar 31, 2016
County95 asked:
My mother in law recently passed and was sick all throughout 2015. She wanted to sell her home quickly and did so without a broker. The lawyer made the contract with it listed as a two…
0 votes 0 Answers Share Flag
Thu Mar 31, 2016
County95 asked:
My mother in law recently passed and was sick all throughout 2015. She wanted to sell her home quickly and did so without a broker. The lawyer made the contract with it listed as a two…
0 votes 0 Answers Share Flag
Thu Dec 3, 2015
Jackie R answered:
The seller is required by law to pay the transfer tax (it's terrible I know) ... only if it's a new development do the sponsors now (with the hot market) flip it around and make the buyer pay the transfer tax. Took me a while to figure this out ... the most comprehensive article I've found while googling was this one www.hauseit.com/co-op-vs-condo-nyc/ ... more
0 votes 11 answers Share Flag
Sat Jul 11, 2015
Kathy Burgreen answered:
The reason you're having difficulty is landlords want tenants who pay full market prices and Section 8 pays about 75% of the rent. If you can pay the 25% difference out of your paycheck every month, you will find every landlord willing to give you an apartment.
If you can't afford the 25% difference, you will have to go thru NYC housing.
... more
1 vote 2 answers Share Flag
Fri Aug 15, 2014
Jose Rodriguez answered:
Providing the sales price is $499,999.99 and below, the New York City Transfer Tax is 1% of the gross sales. If the property sales price is greater than $500,000.00 then the transfer tax will be calculated at 1.425% ... more
0 votes 13 answers Share Flag
Thu Feb 13, 2014
Mark Geller answered:
Please fill free to call Broker for free consultation at 718-265-0066 or 917-588-0099.
0 votes 8 answers Share Flag
Thu Feb 13, 2014
Mark Geller answered:
You have to give more details and experience Broker know how to sell for highest price.

call any time for free estimate 718-265-0066
or 917-558-0099.

Sincerely Mark Geller.
0 votes 10 answers Share Flag
Thu Feb 13, 2014
Mark Geller answered:
Tue Aug 20, 2013
Joan Gronnert answered:
how do I retrieve my listing I have recently posted
0 votes 13 answers Share Flag
Thu Jun 13, 2013
Mitchell Feldman answered:
Dear MARIOLA5555:

If you are the purchaser you will incur closing costs associated with the sale which typically would be about 5% of the mortgage amount (not the sales price per say). These closing costs for the purchaser include mortgage tax which is close to 2% plus title report fees, survey, appraisal, etc, etc. Sometimes you may even have to pay points (a point is 1% of the loan amount) to secure a better interest rate. Keep in mind that if the purchase price is greater than $1,000,000, you will also have to pay mansion tax which is an additional 1% of the sales price.

If you are a home seller, traditionally you will pay the real estate agents commission, New York City transfer tax (1.425%), New York State transfer tax (0.4%), a property condition disclosure fee ($500.00) and your attorney fee.

There are other nominal fees that can come into play, but for the most part that is it. If I can be o further assistance please contact me direct. Good luck!

Sincerely,
Mitchell S. Feldman
Associate Broker/ Director of Sales
Madison Estates & Properties, Inc.
Office: (718) 645-1665/ Cell: (917) 805-0783
Email: MitchellSFeldman@aol.com
... more
0 votes 4 answers Share Flag
Thu Jul 19, 2012
Trevor Curran answered:
Dear Hey,

Don't hold out for "Rent to Own" Properties: It may seem like a good idea at first, but there is much more to consider.

If you are dedicated to the idea of buying your own home, you can create your own savings plan to save up enough money for a down payment. And when you have saved up enough for a down payment, if that takes a year or two or more, YOU get to decide on the price you're willing to pay for the house at that time based on current market conditions. You won't be locked in to a price that may be a lot higher than what the house is worth in the future.

With Rent To Own, even if you can find such properties, you'll be locked in both to the house and to the price, even if it takes you 3 years to save enough through the forced savings of the rent payments. What happens if three years from now your life situation has changed? Maybe you need a bigger/smaller home. Maybe your employment has relocated. Maybe your credit or income is insufficient to qualify for a mortgage loan.

Find a way to save up on your own; not with Rent To Own. Rent To Own is a better deal for the Seller than it would ever be for a potential Buyer, because he gets to lock in a purchase price and a buyer today for a future sale.

Sit down with a local Mortgage Banker and get yourself prequalified, too. You may find you're better qualified than you think you are, and, if you're not, at least you'll know how much loan your income and credit qualify you for, and how much you have to save towards down payment and closing costs.

Trevor Curran
NMLS #40140
... more
0 votes 9 answers Share Flag
Tue Jun 19, 2012
Trevor Curran answered:
Good Afternoon Ralph,

I'd love to sit down and chat with you to complete a thorough Prequalification. I'm a Local Mortgage Banker and I've been helping HomeBuyers for 22+years here in the NY Metro region.

In the Prequalification meeting we'll review the building blocks of a successful mortgage application: IAC or Income, Assets, and Credit. Then we can determine the loan programs we can offer you and the programs that are the best fit depending on your family's goals and financial lifestyle. I'll also guide you through the entire process of buying a home, from finding a great local Realtor, to making an offer, home inspections, contract signing, loan process and closing. My clients get a personalized "First Time Buyer's Seminar."

I'm accessible seven days a week and I make house calls, so give me a call today and we can get you on your way to homeownership!

Trevor Curran
NMLS #40140
Office: 516-829-2900
Mobile: 516-582-9181
Fax: 516-829-2944
PowerHouse Solutions, Inc.
185 Great Neck Rd, Suite 240
Great Neck NY 11021
Licensed Mortgage Banker – NYS Dept. of Financial Services
NMLS#3528
http://www.phsloans.com
... more
0 votes 5 answers Share Flag
Tue Jun 12, 2012
Christopher Pagli answered:
Hi, Typically closing costs are between 3-4% of the putrchase price, under a million.

Chris
0 votes 4 answers Share Flag
Wed Oct 5, 2011
Karen Rasmussen answered:
I work for Coldwell Banker and I service your area. I can show apartments and handle transportation for you. The fee through my agency is one months rent of what ever place you choose to rent.

My name is Karen Rasmussen and I can be reached at karen.rasmussen@cbmoves.com

Hope this helps and have a nice day!


Sincerely,

Karen Rasmussen
... more
0 votes 3 answers Share Flag
Sat Aug 13, 2011
Jerry Cibulski answered:
There is not a standard time for a response. The average seems to be within 24 hours. When a home owner has been counciled on the market it is easier for them to make a decision and respond. ... more
0 votes 6 answers Share Flag
Mon Jul 18, 2011
Besthomesny.com answered:
Nancy,

If this property is still available, I will purchase it AS IS with all the violations & problems that come with the property. I can offer you an ALL CASH offer and close with in a week. If interested, please email me at jmashieh @ gmail.com ... more
0 votes 20 answers Share Flag
Mon Jul 4, 2011
Lyle Wolf answered:
Nancy
You might find this information from the EPA on asbestos helpful.
http://www.epa.gov/asbestos/
0 votes 5 answers Share Flag
Fri Oct 15, 2010
Madeline Padovano answered:
Hi Marc
Just as my co-associates have stated, we would need to know where it is and see inside to give you our best opinions. sometimes it pays to fix it and in today's market it may just pay to sell it as it is. as clean as
possible.
I would love to come look at it feel free to contact me directly so we can set up a convenient appointment
madelinepadovano@fillmore.com
7183328800
... more
0 votes 19 answers Share Flag
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