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New Hyde Park : Real Estate Advice

  • All52
  • Local Info9
  • Home Buying14
  • Home Selling1
  • Market Conditions0

Activity 21
Sun Apr 5, 2015
Anna M Brocco answered:
Health issues as far as what....
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Mon Feb 9, 2015
Allycindy78 asked:
Sun Jul 6, 2014
Malgorzata Ringston answered:
The closing costs on a real estate purchase or sale can add up considerably, regardless of which side of the table you will be on.
List the buyer closing costs that are required and selected by the lender. The lender must provide you with an accurate list and estimate of these charges.
An appraisal of the property is required by the mortgage lender in order to ensure that the loan amount is in line with the property's value. This appraisal is likely different from the tax assessor's appraisal.
Some lenders may charge you for fees incurred in pulling your credit report from the 3 major reporting bureaus. You can request a copy of your credit report, complete with score, for about $15 per bureau. Question your lender if their charge greatly exceeds this amount.
A flood certification is required by lenders in most cases, adding to the buyer closing costs. Your lender may require additional flood insurance if it reveals that the property in question lies within a flood zone.
A tax service fee is required when your mortgage payment will include an escrow account for property taxes and homeowner's insurance.

Government recording fees also vary by location and are paid to record your title with the appropriate government offices as part of your buyer closing costs.
Shop for the services that you have some control over and compare before selecting your provider.
A property survey is required for most real estate transactions. The survey shows you exactly where your property lines are. Most lenders and brokers can recommend reputable survey firms or professionals.
Determine the annual property taxes for your buyer closing costs.
Local property taxes can vary wildly due to the area where your house is located. You can get a history of the property taxes on the house from your real estate agent or from your city or county tax office.
Request estimates for your homeowner's insurance.
Your auto insurance agent may be able to give you a package discount if you add homeowner's insurance.
Homeowner's insurance should include coverage for loss of the building, personal possessions and contents and liability.

Compute the buyer closing costs needed for your initial escrow deposit.
Taxes are paid in arrears, but homeowner's insurance is paid in advance.
Your initial escrow deposit should include enough to pay for any taxes that will come due in the current year (less the seller's credit for unpaid taxes, if any), 2 months of property taxes and 2 months of homeowner's insurance.
Good Luck!
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Mon Nov 18, 2013
Annette Lawrence answered:
Yes you can, but that would be a really, really, bad move.
Stick with only one Realtor.
However, don't you think more analysis is needed?
Based on historic sales, what level of activity is expected?
Based on histgoric sales, are you priced within 10% of the value barcket?
Based on historic sales, is the list price reflective of the homes condition?
What has been the result of your agents marketing?
1. How many level one views?
2. How many level two view? (should be 10 times sales)
3. How many showings?
If your agent has accomplished the marketing goal in #2, the agent is not your issue.
The marketing IS WORKING. The buyers are rejectiing your home.
Your agent has already discussed with you what you must do, but you simply don't believe.
This is not uncommon. Very often, sellers are more able to hear the advise of the second agent and make the needed correction.
In response to your question..ONE AGENT AT A TIME.
You are aware that your agent IS marketing your home through other REALTORS, right?
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Wed Oct 2, 2013
Johnson John answered:
My buyer was in the same situation.
Since home prices have increased it would explain why the lender is not moving forward at the original accepted offer. Look at the recently sold prices of homes in the area you're buying and see how far your offer is from those prices. You will most likely have to pay more than your current offer or may get lucky if you can dramatically change your terms to an all cash offer. ... more
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Thu Jun 13, 2013
virgi31151 answered:
need a copy of my property tax
0 votes 3 answers Share Flag
Sun Jun 9, 2013
Michael Milligan answered:
You can find tax information for any property by going to the county's website. Tax info is public information and a 10 year tax history should be easily found.
Mike Milligan ... more
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Sun May 26, 2013
Joanne Markowitz answered:
It depends on where you are going. If you are going into Manhattan - then No, you don't have to transfer trains. If you are going into Brooklyn then Yes, you transfer in Jamaica.
0 votes 5 answers Share Flag
Thu Apr 25, 2013
Trevor Curran answered:
Good afternoon Mark,

First steps:

Meet with a Local Mortgage Banker to get prequalified for mortgage financing. The Mortgage Banker will review all facets of your loan request to answer your questions with regards to the types of loans and maximum loan amounts you could qualify for.

Get a referral to a good, local, real estate attorney. Call the attorney, retain the attorney so you have her information handy when you make an offer. Having that information at time of offer helps you demonstrate to the Seller how serious you are, and they will consider your offer with more interest.

Line up a Home Inspector. A good home inspector will scare the heck out of you: that's what you pay him for! But you'll concentrate on the fundamentals of the property: roof free of leaks, plumbing, heating and electrical up to code and in good working order. Again, when you make an offer and you have your Home Inspector ready to go, your offer will be considered with much more interest by a Seller because you truly have your "ducks in a row" and your preparation demonstrates your serious attitude about conducting the purchase transaction in a timely manner.

Find an experienced Local Realtor who works in your desired shopping area. A serious pro Realtor will refuse to show you homes until you are Prequalified for mortgage financing. Don't take offense! That Realtor doesn't want you to be disappointed and wants you to have a smooth experience as you shop for your new home.

Put together your Team of real estate professionals and shop 'til you drop!

Trevor Curran
NMLS #40140
Mobile: 516-582-9181
Office: 516-829-2900
Fax: 516-829-2944
PowerHouse Solutions, Inc.
1010 Northern Blvd. Suite 234
Great Neck NY 11021
Licensed Mortgage Banker – NYS Dept. of Financial Services

*If you thought my answer was helpful, please give me a “Thumbs Up” or “Best Answer.” Thanks!
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Sun Mar 10, 2013
Anna M Brocco answered:
Property taxes do vary, therefore consider working with an agent of your own who can provide any necessary information, or directly contact the local tax assessor's office.
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Sun Mar 10, 2013
Mike Mcdermott asked:
Thu Mar 7, 2013
Yubelly Santos answered:
The difference is time and certainty. The CASH OFFER is faster and stronger , the buyer has the money in the bank. If the Seller likes the offer the buyer is ready to sign contract and go to closing right away, if there is not an inspection or something else. Really faster, like a month.
In the MORTGAGE OFFER the buyer could be pre-approved or not, still he has to do the papers with the bank, then wait for the appraisal at least a week or more to see if the value is want the seller is asking for. Sometimes the appraisal coincide with the price, and sometimes is no deal because the loan is not approve or in the case of pre-approved buyer the appraisal is lower to what the Seller is asking for.
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Wed Feb 13, 2013
Tilak Shah answered:
If you are looking to flip houses you have to know what you are doing. Flipping houses is a good business however you need to know how much profit you can make off the house. The best place to look for houses like that are bank owned properties because you can get them for really cheap and make a good profit off the houses and also put in some money to fix them up. ... more
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Fri Sep 28, 2012
Joannhaupt1 answered:
Hi, its not Mahatten, most places are not furnished
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Sun Mar 25, 2012
Reema Sharma answered:
Wed Aug 24, 2011
Karen Parsons Fiddler answered:

This is a scary question. Under the Fair Housing Act, no Realtor can answer this question for you.

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Thu Apr 21, 2011
Grace Desiderio answered:
New Hyde Park has a LIRR Station that takes you to Penn Station. It is located in the Village of New Hyde Park.The area is conveniently located for travel and leisure. I have lived here for 33 years..and have been selling real estate for the past 15 years here. The schools are excellent also.... ... more
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Thu Jan 7, 2010
Dan Chase answered:
Since this was asked almost 2 years ago what was the resolution of your concern? Did you get the house?
0 votes 12 answers Share Flag
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