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Flushing : Real Estate Advice

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  • Local Info5
  • Home Buying31
  • Home Selling1
  • Market Conditions1

Activity 49
Wed May 24, 2017
Kathy Burgreen answered:
I'm a recently retired NYC realtor and life long area resident. I'm assuming you are buying a condo or a house because co-op Boards do not accept FHA. What I'm very confused with is if you have a closing date, how did you get this far? Were you pre approved by a lender already? If you have been pre approved, then your lender should be able to close the loan.
If you were NOT pre approved, how could you sign a contract and have a closing date? Most NYC realtors do not allow buyers to sign contracts unless they have proof of financing (pre approval letter or proof of funds). I'm shocked your realtor allowed this. Perhaps you are working with a new licensed agent who doesn't know what they are doing?
Having permission from a trustee to proceed and buy a home does NOT mean you are qualified to buy a home. It's only proof for the lender that you can proceed. Lenders need to qualify you based on several factors - not just permission from a trustee. The criteria lenders use is: employment and income; savings or investments; credit history and credit score; debt to income ratio and tax returns.

Bottom line - Even IF you find a lender, there is NO GUARANTEE that a lender will approve you to buy a home. If you are under contract, you need to brace yourself that you may need to cancel and back out. Will you lose your deposit? You will not get a refund for fees already paid. You did things backwards.
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Tue Jun 14, 2016
Sally Grenier answered:
Sounds like a legal matter and you should contact an attorney. We are not attorneys and cannot give you legal advice. Or, you can save time, money and headaches by just having a face to face conversation with your agent and explain why you want to terminate. ... more
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Wed Feb 10, 2016
Anna Taylor asked:
Tue Jun 23, 2015
Mary M Bodajlo answered:
How about your parent the life capital gains $250,000 x 2 use in this deal? Longlong
0 votes 7 answers Share Flag
Tue Oct 28, 2014
Celine Crotty answered:
I am a Licensed Realtor with WinZone Realty in New York City, Queens County. We have plenty of Inventory for Homes and Co-Ops and Condos, in Flushing, Elmhurst, Jackson Heights, Corona, and also in Brooklyn. Yes, I am willing to work as a Team. Pls. contact me: my e-mail is : celinecrotty@gmail.com. Tel: (718) 507-2396. ... more
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Fri Apr 25, 2014
Unspecified answered:
can you call me by 646-3227358,i have interest about this house,my name is ben, thank you very much
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Sat Jan 18, 2014
Benny Smith answered:
I see this question a lot. The only correlation between your income and how much you should buy is that your income is one of the limiting factors. If you can get a home to meet your needs for a $150,000 why spend $300,00? Look at your other needs like size, location, and appointments. Use what you qualify for as a limiting factor not as a goal. ... more
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Sun Jan 5, 2014
Anna M Brocco answered:
If you are trying to schedule a showing consider working with an agent of your own....
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Fri Oct 25, 2013
Fajardo Delacruz answered:
We can try or find something for you.
Fajardo Delacruz
347 932-0609
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Thu Oct 10, 2013
Aziza answered:
My sister and I are looking for a 1 bedroom . our budget is 1100 but its really hard to find one..
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Fri Sep 13, 2013
Soley Lucero answered:
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Tue Sep 10, 2013
Jessica Bartholomew answered:
I have an apartment in St. Albans, could be shown on Thursday, it is a second floor apartment.
0 votes 3 answers Share Flag
Mon Sep 9, 2013
Mark Narkis answered:
Hi Denise, One of my agents has 2 3BR Apartments available in the Queens area .

If you are still interested, please feel free to call him at (718) 810 - 1286, his name is Billy.
0 votes 5 answers Share Flag
Thu Sep 5, 2013
John Devenish answered:
I have a 3 bedroom 2bath in Rosedale ... Cash Deposit required ....
Call/text 516-318-8929
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Tue Aug 20, 2013
Trevor Curran answered:
Rent today; Buy tomorrow. How to convert from Tenant to Homeowner.

When I rented my first apartment in Astoria, I did not want to be a Tenant my whole life and pay my Landlordâ€s mortgage. I longed to become a Homeowner.

That’s why I found my way into the mortgage business in 1989 and soon afterward became a Homeowner. Here are the fundamentals any Tenant should know to prepare to become a Homeowner in the future, no matter when that might be.

• Credit: Establish 3 credit accounts, no more than 5. Pay your bills on time. Keep your balances to no more than 50% of your credit limit. Don’t pay off the accounts in full. Keep balances active for 12-24 months. All of the above will provide both a good credit score and adequate credit history to qualify for a mortgage loan.

• Assets: A basic savings budget isn’t hard to do. Pay your rent first in your budget; then set aside 10% of your income before taxes . Make it a budget priority and you’ll still have money left over for entertainment and restaurants and clothing.

How much money do you need to buy a home? Many buyers spend no more than $25,000 to buy their first homes. There are loan programs with low down payment requirements and many real estate agents negotiate for their Buyers a “Seller’s concession” to include the Buyer’s closing costs (which are HIGH here in New York!) in the price of the home.

• Income: Two years consistent income is the basic requirement for either a salaried individual or a self-employed person. Income from Bonus, Commission, and Overtime is treated differently and is best discussed with your Mortgage Banker.

• Market Survey: it doesn’t hurt to go out and get to know neighborhoods where you might like to buy a home. Visit open houses on Saturdays and Sundays. It’s okay that you’re not yet buying; tell the Realtor at the Open House you’re just beginning your “survey.” You’ll also get to know market prices for different kinds of homes. It’s okay to “window shop” homes on the weekend at Open Houses!

I hope these fundamentals will help you better understand the path to homeownership is a process that, with preparation and dedication, you can move through easily. And if you’re interested in getting Prequalified today to create an Action Plan for your future of Homeownership, call me anytime!

Trevor Curran
NMLS #40140
www.tcurranmortgage.com

*If you thought my answer was helpful, please give me a “Thumbs Up” or “Best Answer.” Thanks!
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Mon Jul 22, 2013
Anu Dutta answered:
Condo should be ok, co ops are little tricky, rather you want to check with the management and get a clear answer.
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Mon Jul 22, 2013
Anu Dutta answered:
Mon Jul 15, 2013
Fajardo Delacruz answered:
We have a few of the listing in the Michel garden.
Fajardo Delacruz
347 932-0609
0 votes 2 answers Share Flag
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