Flood insurance isn't so scary, if you get a certificate of elevation, chances are that you will pay under $1000 and isn't that just a piece of mind for a flood that hopefully will never occur again..if you are taking our a mortgage you will need flood insurance, although it only pays you for minimal work but its something..FEMA is looking to replenish its funds for all the floods that have been happening all over..since new Orleans...... more
Diana Melerud TOP BROKER, Broker, Brooklyn, NY
AND THE CORRECT ANSWER IS. LOOK AT BUILDINGS THAT HAVE A FLIP TAX RESOLUTION WHICH ALLOWS THE BANK TO GIVE LOANS THAT MEET FANNIE MAE GUIDELINES REGARDLESS OF %. YES FOLKS ITS THAT EASY. IF YOU HAVE FURTHER QUESTIONS REGARDING CO-OPS YOU CAN CALL ME AT 917 748 7780 DIANA SUPERIOR REALTY 917 992 7239.... more
Closing costs usually will be approximately 5% of your mortgage loan amount. With co-ops you will also have some application fees. Also, most co-ops including this one require a 20% down payment. In addition to all of that, the bank and the co-op will probably want you to have some money left over in reserve after you make the purchase (like a rainy day fund!).
Hence, in order to purchase a co-op like this one, you would need about $35,000 to $40,000. If you need further assistance, please contact me direct.
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