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Home Buying in Coram : Real Estate Advice

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  • Home Buying10
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Activity 18
Mon Jan 18, 2016
Javier Meneses answered:
When did you sign contracts? Most short sale contracts give buyers an out 3 months after they are signed. Speak to your attorney and ask what options you have. Unfortunately, there are still a lot of agents and attorneys who do not know how to properly process short sales and this makes the process much longer than they should be. If there is any questions I can answer, please feel free to call me. I never mind giving out advice even if we do not do business. I happen to know the area well. Good luck!

If my response was helpful, consider clicking BEST ANSWER!

Javier Meneses
Senior Loan Officer
STERLING NATIONAL BANK
98 Cuttermill Road
Great Neck, NY 11021
jmeneses@snb.com
(516) 606-9648 cell
(516) 708-2351 office
(516) 918-5383 efax
... more
0 votes 2 answers Share Flag
Mon Jan 18, 2016
Javier Meneses answered:
We offer the SONYMA as well. You are only allowed to get a 3% seller concession, which will cover part of your closing costs. If you need a full 6% seller concession (max allowed by law), and your down-payment is less than 10%, your ONLY option will be FHA. How realistic is it that even if you went FHA for you to get the 6% seller concession? Well that depends on what property you're talking about. Sellers have to agree to the seller concession, and obviously some will and some will not. Call me if you have any questions, I never mind a conversation even if you already have a lender. Good luck.

If my response was helpful, consider clicking BEST ANSWER!

Javier Meneses
Senior Loan Officer
STERLING NATIONAL BANK
98 Cuttermill Road
Great Neck, NY 11021
jmeneses@snb.com
(516) 606-9648 cell
(516) 708-2351 office
(516) 918-5383 efax
... more
0 votes 4 answers Share Flag
Fri Jul 24, 2015
Javier Meneses answered:
The odd thing is that if your rate increases your lender, BY LAW must notify you in writing of these changes and you must sign documents acknowledging that you received the changes and intend to proceed with the changes. This must happen 3 days before your closing. How is it possible that you did not hear of this to the day of the closing? On another note, there are several factors that dictate your interest rate. Before you decide to cancel you should make sure that the rates and terms are going to be better somewhere else, otherwise it might not be worth your time cancelling this refinance. Good luck! ... more
0 votes 2 answers Share Flag
Fri Feb 27, 2015
Ali Qureshi answered:
It depends on other factors such as purchase price of the house, your eligibility to take a mortgage out and etc. Best is you sit with a loan officer and have them evaluate your file.
0 votes 6 answers Share Flag
Sun Oct 20, 2013
Dawn Noak answered:
Hi Wendy-

I can understand your frustration and I would like to offer you a free service that will help you catalog homes that you you are looking for and flag ones that you are interested in.

This is called ListingBook. I can sign you up with the PRO Editon which has a few more bells and whistle the the non PRO. It is very easy to use and a dashbord on the site allows you to quickly find what you have already shown interest in.

Simply send me an email, call, or text if you would like to take advantage of this free service. All of my clients have LOVED it.

Thank you-

Dawn Noak
Gladstone Group
Dawn Sells@verizon.net
631-827-7373
... more
0 votes 3 answers Share Flag
Mon Jul 8, 2013
Anna M Brocco answered:
Each co-op is different, therefore fees vary. Consider working with an agent of your own who can provide any necessary information, or contact management directly.
0 votes 4 answers Share Flag
Sun Mar 17, 2013
Frances Montera answered:
I am not an expert in mortgages. Rules and regulations are continually changing in the mortgage industry as with real estate. I can answer any real estate questions and be sure I am up to date with answer. I would recommend that you ask these question to a reliable mortgage broker. If you are not working with one yet, let me know and I will make a couple of suggestions to whom I recommend to my clients that are purchasing. Hope this is helpful to you. ... more
0 votes 9 answers Share Flag
Tue Mar 5, 2013
Russ Ravary answered:
Sometimes they aren't. Sometimes all the banks see is black and white. Sometimes they are down right dumb
0 votes 2 answers Share Flag
Tue Feb 5, 2013
Thomas Brady answered:
Hi Treesahr. The most important factor is getting an agent that you can trust and is honest with you. Next ask about how your home will be marketed, have the agent give you specifics on what types of marketing they will be doing. Go over the pricing of your home with the agent, have them show you sold comparable homes preferably within the last 6 months if possible. You want to have the pricing correct, too high and you won't get offers, too low and your leaving money on the table. Make sure the agent listens as well as they speak, your voice must be heard, not ignored. Have the agent give you a written guarantee that you may cancel the listing without cost or obligation if you are not satisfied with their service. Don't assume that the highest commission is the best service, or that the lowest is the worst, ask questions and make sure you understand what you are getting in regards to service. Good luck and please feel free to call or e-mail me if you have any questions or comments. And of course I would be more than happy to meet with you and interview for the listing, no cost or obligation, I live right in Centereach.
Tom Brady SFR, e-PRO, SRES, GREEN, BPOR
Licensed Real Estate Salesperson
Notary Public, Retired N.Y.P.D. Lt.
631-682-8660
Tom@BradyFamilyRealty.com
www.BradyFamilyRealty.com
#1 Listing & Selling Brokerage in NY
Charles Rutenberg Realty, Inc.
255 Executive Drive - Suite 104
Plainview, New York 11803
... more
0 votes 5 answers Share Flag
Wed Jan 16, 2013
Gail Gladstone answered:
Your attorney should be advising the seller's attorney of the open permit. The sellers should be required to close it out to your satisfaction or leave sufficient money in escrow with which you can close it out.

Do not purchase with open permits.

gail@gailgladstone.com
845-522-5808
... more
0 votes 4 answers Share Flag
Sat Mar 17, 2012
Jerry Cibulski answered:
You can speak to the building department in Brookhaven and they will be able to pull the file for that location and tell you if there are any open permits. That can be reviewed while you are there. This is an easy task to complete! ... more
0 votes 2 answers Share Flag
Sun Nov 22, 2009
Marilyn Weston answered:
These loans must go through 2 underwritings, the bank & SONYMA. It is not possible to complete in 30 days. 30 days is barely enough under current rules for ANY mortgage to be issued. There are mandatory waiting periods for you to review the paperwork the bank sends to you. They cannot underwrite without the appraisal & title report either.

Some banks will allow you to be late in closing if you agree to pay $100.00 per each day you are late. Some will waive this if you finance with them. Do not count on this.
... more
0 votes 2 answers Share Flag
Sat Oct 3, 2009
Patrick Thies answered:
A lis pendens is a document serving notice upon any other party that is researching the particular property affected by the document. This usually shows up during the title search. In most cases when a homeowner is behind on the mortgage payments, the lender's attorneys will file the initial foreclosure lawsuit with the court and a lis pendens will be sent to the county clerk or recorder's office to indicate that a particular property is in the process of a pending litigation. I would imagine that the papers from the bank are in regards to a foreclosure.

The lis pendens doesn't stop the foreclosure is really just a notice that will show anyone, such as a title company or prospective foreclosure refinance lender, researching the real estate that it is involved in a lawsuit.

You will have to find out from the bank what they plan on doing. Is the house going to be a short sale or was the sale enough to cover the payoff amount? You should talk to an attorney on this if you don't have one already.
... more
0 votes 2 answers Share Flag
Fri Aug 21, 2009
Donna Lomenzo answered:
Prior to the current listing of $205,000 the last thing I see is that it was on the market in 1997 for $89500 but never sold. However it is showing that there is a Lis Pendens for $65,000 that was posted on 4/14/2008. If you are trying to figure out how much to offer go by today's market value...not what someone paid in 2003, you will drive yourself crazy. Good luck to you.

Donna Lomenzo
Coldwell Banker Neyland Realty
Middle Island
... more
1 vote 1 answer Share Flag
Tue Jun 23, 2009
Gail Gladstone answered:
I can't answer for this particular builder, but in general, funds are tight and contractors are taking jobs working for other contractors inbetween constructing new homes. New homes were actually at a real standstill for a while, but are just starting up again. A real good indicator that the industry is starting to take a turn upward (that and the interest rates going up).

So, if you were sitting on the fence about buying...time to climb down.
... more
0 votes 1 answer Share Flag
Thu Jun 4, 2009
Anna M Brocco answered:
This particular property is not showing up on MLS as available.

Anna
917-576-5376
abrocco@laffey.com
0 votes 2 answers Share Flag
Thu Jul 10, 2008
Jaishree..Jane Zilpelwar answered:
In Coram there are some nice Co-Ops, also in Selden, Port Jeff Station area too. It depends on where you want to be. It's a good time to buy, there are lot of properties to choose from.
If you like to find out more details bout Co-Op's in the area, please call me I will be available to help you. I do business in the area and I am very familiar with the surrounding area.
My cell #631-889-2997 or email me jzilpelwar@yahoo.com
... more
0 votes 7 answers Share Flag
Sun Jan 6, 2008
Washington answered:
Thanks for your responses. Yes, we need a lawyer. New York Corp Business Law # 603 is partly about conducting business and not having an annual shareholder meeting in over 13 months. There was an adjournment, however, the sponsor, has sold so many blocks of apartment to investors who do not vote. The people are so fed up - that establishing a quorum is very hard. I came across this NY law # 603, which would allow a quorum with only 10% of the shareholders signatures - and who ever shows up for that meeting would constitute a quorum. Only the lawyer said wait unit I find out the details. He never responded and the board appointed a board member of their choice. Again thank you for your responses. ... more
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