I am purchasing a co-op in Howard Beach for $150,000 (2 bedrooms, 1 bath, terrace) with 10% down. I will be

Asked by Janet Iadanza, Queens, NY Fri Jul 25, 2008

meeting with my attorney in a few days, and I have a question. I was told to be prepared to give the downpayment ($15,000) at this first meeting. I thought that I would review the contract, add anything that I felt needed to be added (i.e., a contingency clause), it would at that point go back to the seller, and, once approved by them, I would at that point give the downpayment. Am I totally misunderstanding the process? Please advise.

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The Hagley G…, Agent, Pleasanton, CA
Fri Jul 25, 2008
Dallas Agent: Attorneys are used for real estate transactions in NY.
2 votes
Confused, Home Buyer, Queens, NY
Sun Mar 21, 2010
you don't have to put the whole down payment at contract signing...We bought our co-op in HB as well las year, at first we put 10% down, but then we couldn't get the mortgage insurance and had to pay another 10%, which we paid at closing...
0 votes
Carolyn McGu…, Agent, Howard, NY
Thu Dec 17, 2009
I am a broker in Howard Beach, what co-op is 10% down? You do not need the entire down payment until closing, usually you would put down 5k 0r 10k " at contract signing" the balance is due at closing. yuo can call me at 718-208-7011
0 votes
Dallas Texas, Agent, Dallas, TN
Fri Jul 25, 2008
Never purchase a home without a real estate agent. It will prevent problems. . If you work positively with a real estate agent I am assured solutions to all of your questions could be resolved. http://www.lynn911.com http://www.homes-for-sale-dallas.com
Web Reference:  http://www.lynn911.com
0 votes
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