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Home Buying in Dyker Heights : Real Estate Advice

  • All49
  • Local Info6
  • Home Buying18
  • Home Selling1
  • Market Conditions2

Activity 18
Fri May 19, 2017
Kathy Burgreen answered:
What house? You did not provide a link or address. Buying a foreclosure is the same as buying a regular house. The difference is most foreclosures in NYC require 100% cash because lenders will not give you a loan. Also most foreclosures require major renovations and repairs. You will need to pay for this and in NYC, contractors are expensive.
You need to work with a realtor BUT most realtors in NYC refuse to work with foreclosures because the time involved is not worth it. The commissions earned is much smaller than buying a regular home.
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Thu Feb 11, 2016
Zachary Gangemi answered:
I am currently waiting on a call back for the 1268 83rd street foreclosure you have expressed interest in. I do have some other foreclosure purchase opportunities available as well. Please feel free to contact me.

Zachary Gangemi
201 400 0703
zacharygangemi@gmail.com
Rapid Realty
Brooklyn, NY
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Mon Aug 4, 2014
Madeline Padovano answered:
Hi Kevinmail17 - no parking
0 votes 1 answer Share Flag
Wed Jul 16, 2014
Kathryn Lilly answered:
The market has changed so quickly, there are just not that many "foreclosures" or short sales available.
A house that may be in foreclosure; if the seller wants to sell it, can put it on the open market and get a market price for it. They are no longer discounted.
The only way to get a true foreclosure is to go to the auctions, on the Court House steps.
If a seller does go to an agent and say I want/need to sell this quick, the chances are that the Broker will have at least 10 buyers that they can call to pay all cash for it for a quick sale.
Unless of course the mortgage and judgments are more than the house is worth, those are the houses that eventually end up on the Court House steps.
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Wed Apr 9, 2014
Scott Godzyk answered:
If a buyer closes on it, then it can become their problem. Your lawyer will advise you how serious it is and what the town/city wants to fix the violation and any cost with it. Only the buyer can judge if it is worth the risk. ... more
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Wed Apr 9, 2014
Kathryn Lilly answered:
It depends on who is holding the escrow. Is it the sellers attorney, your attorney or the Bank?
If it is either attorney, it will be explained in the escrow agreement between the Attorneys. If the issue is resolved within a specified time, the seller gets the money. If it is not, then the buyer gets the money.
If the Bank is holding the escrow; depending on the Bank and again how the escrow agreement is written. If the problem is not resolved, it will go towards the principal of the mortgage. If the problem is resolved it will be released to which ever party put up the escrow.
But all of this should be explained by your attorney.

Best wishes,
Kathryn Lilly, Broker
Realty on the Greene, LLC
718-858-7600
KLilly@RealtyontheGreene.com
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Wed Oct 16, 2013
Michael Germanovsky answered:
You can find current map of vacant houses and buildings with other violations at http://www.buildingviolation.com/
0 votes 5 answers Share Flag
Mon Jul 15, 2013
Mitchell Feldman answered:
Dear CT1988:

In the end it is like 6 of one and half a dozen of the other. For the most part is doesn't make a big difference. Some people prefer a garage and others will prefer a bigger backyard. If you want the garage you can always try to get a permit and rebuild the garage. Most people use their garage for storage these days and besides, if you have a shared driveway you would still be able to park in your backyard even if the garage is not there.

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
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0 votes 5 answers Share Flag
Fri Jul 12, 2013
Michael Richman answered:
Hi,

An educated buyer needs to know how much similar properties in close proximity to the one you are considering have recently sold for. If you do not know how to get this information, you should be working with a real estate agent who knows the area and documents to you why they recommend the prices they suggest that you offer.

Michael Richman
Licensed Real Estate Associate Broker
KIAN Realty
450 7th Avenue Suite 1501
New York, NY 10123
212-757-8268 x220
917-991-2528
mrichman@kianrealtynyc.com
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Thu Jul 11, 2013
Ron Thomas answered:
If you want to get the "specifics" from the owner,
then you should go talk to the Owner, not us.
1 vote 5 answers Share Flag
Thu Jul 11, 2013
Diana Franks answered:
When asking if a house is available be sure to give enough information to the agent so they can find the property and give the right answer. Also make sure you give accurate information about yourself so the agent can get back to you. A good agent isn't going to hound you but get's frustration when they can answer a consumer question. ... more
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Wed Jul 10, 2013
Jose Garcia answered:
Not all property that are in the MLS are the best prices, the property that are NOT are. You as a buyer have to have a good agent such as me that will guide throw the process of locating the best house in the area. Thank you
718-300-3449
RE Broker Brooklyn
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0 votes 4 answers Share Flag
Thu Jan 3, 2013
Joseph AGHELIAN--PSAPROPERTIES answered:
I BUY SHORT SALES AND REO ALL CASH. IF YOU HAVE ANY PROPERTIES IN BROOKLYN OR QUEENS PLEASE CONTACT ME. THANK YOU
516-849-1406
0 votes 8 answers Share Flag
Fri Jul 13, 2012
answered:
Dear Ringring,

Be sure your Realtor has experience with short sales. The more experience the better. A short sale is different than the normal real estate purchase: you will essentially have to wait while the Seller negotiates with their Lender(s) for approval to sell you the house at a price lower than what is owed to the Lender(s). This process can be lengthy, even stretching out to many months before you have a final answer.

You'll need two things during that time:

1. Patience. While you've submitted all your documents to your Lender for your mortgage approval, and you keep your documents current and updated, you'll grow frustrated with the lack of any communication from the Seller about the status of the short sale. This is common, both the poor communication and the Buyer's frustration. Prepare for it.

2. Maintain your credit scores. Be sure not to make any dramatic changes to your credit report that could affect your credit scores. Pay all bills on time. Don't CLOSE any accounts. Don't open any new accounts. Don't run up your outstanding balances to max your revolving debt.

Once the short sale is approved, you may find the price you offered is not acceptable to the Seller's Lender. They may come back and counter-offer your price, so you will have to reconsider at that time if you wish to pay more than your original offered price.


The three rules of real estate: Location, Location, Location.
The three rules of short sales: Patience, Patience, Patience.

I hope that helps!
Trevor Curran
NMLS #40140
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1 vote 6 answers Share Flag
Wed Jul 4, 2012
Luke Constantino answered:
I have a variety of rentals you might be interested in... Giive me a call anytime.

Cell 212 300-3919

Luke Constantino
Commercial | Residential
REMAX PARK SLOPE
Direct: (212) 300-3919
Lukeconstantino@remax.net
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0 votes 3 answers Share Flag
Tue Jun 21, 2011
David Rogoff and Bonnie Chernin answered:
Dear Suzie:

Communication between your Realtor, attorneys and lenders is key.

Keep looking in Dyker while the sale proceeds. Have a backup plan in case the transaction fails and keep everyone in the loop each day.

Best of luck.

Bonnie Chernin and David Rogoff
Fillmore Real Estate Branch #19
2926 Avenue J
Brooklyn NY 11210
917-593-4068 – David mobile
646-318-5031 – Bonnie mobile
davidrogoff@fillmore.com – E-mail
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Fri Feb 26, 2010
Ralph Windschuh answered:
Hey Kathleen,
Happy house hunting first of all! There are three different types of properties that fall under this category: coops, condos and HOA's. Coop stands for cooperative which means that instead of actually owning the unit you live in, you own shares of a coop corporation that allows you to live in a particular unit. The "maintenance charges" include property taxes, insurance, property upkeep, etc. In a condo, you actually own the unit you live in - basically from the walls inward. You usually don't own the land underneath or around the unit. The "common charges" are usually merely for the insurance for the entire development, maintenance charges such as snow removal, grass cutting. If there are any major renovations/repairs such as new roofs and the like, they will have a separate assessment that the members of the development will split. In an HOA (homeowners association), you actually own the unit, the ground under the unit and many times some of the property around the unit. The common charges usually are only for things like snow removal, grass cutting, etc. and you are responsible for repairs on your own unit. Good luck.

Ralph Windschuh
Associate Broker
Certified Buyer Representative
Senior Real Estate Specialist
Century 21 Princeton Properties
631-467-0009
rwindschuh@c21princetonproperties.com
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Fri Nov 23, 2007
Gail Gladstone answered:
Make sure they are a PE and if you can get a reference from someone who recently used the inspector and was happy with their work, that's a good source.
0 votes 2 answers Share Flag
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