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New York : Real Estate Advice

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  • Local Info438
  • Home Buying1K
  • Home Selling227
  • Market Conditions94

Activity 5,575
Mon Oct 16, 2017
Kathy Burgreen answered:
Since you are not the landlord or the owner, you have no rights with NYC and you cannot evict anybody. The only thing you can do is complain to your landlord or the owner of the building. Unfortunately, if they are OK with the situation, you have to accept it. This is life in the Big Apple. ... more
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Mon Oct 16, 2017
alexandria_epps answered:
Please be aware of 347-343-4538. This number is associated with a scammer in Texas, Florida, and South Carolina. Person claims to be the owner of several properties he is attempting to rent out. Every property has a rental amount of $900, which he wants paid via iTunes or Money Gram. I have contacted Trulia via email but received no response. Just getting the word out there. ... more
0 votes 15 answers Share Flag
Sat Oct 14, 2017
Dan Burkhart answered:
If you are even thinking about selling your home..have a plan to be out by closing which is typically 30-45 days from an offer. Figure out a living arrangement, whether it's a short term lease on an apt, staying with a relative, or buying another home before listing. People who who think they need "more" time after close to move out, don't. I find it offensive when people ask for it in a contract. If you don't intend to move, don't sell. When you list your home, you should already be packing, one it helps sell the house if you can declutter, box up and store non essential items, or just sell them, purge excess. Buyers should never agree to an extended stay without a major price concession, make it worth it if you are buying, and ensure the stipulations and penalties are strict. If they (sellers) want it bad enough, the sellers will concede, if not, don't buy and move on. ... more
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Sat Oct 14, 2017
Kathy Burgreen answered:
If you live in a coop building, you need the approval of the coop Board to sell. The coop Board wants to verify that you are up to date with monthly maintenance fees. For condo buildings, the HOA will also need to verify that you are up to date with your monthly fees. They can hold up a sale if you are behind in your payments.
In Manhattan, your Office Manager or the brokerage you signed on with will need you to disclose that you are selling your apartment. You can sell it yourself or hire a colleague to be your representative. Just don't try to hide it from your brokerage.
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Sat Oct 14, 2017
Kathy Burgreen answered:
Are you talking about a flip tax or a mortgage tax? I'm assuming you are referring to changing the names recorded with the county. This can be done thru a real estate attorney or the law firm that holds the shares for the corporation. Since you are still living in the coop, there should be no flip tax.

On other issues, did your ex girlfriend give any money towards a down payment? Did she give any money towards the maintenance or the mortgage loan? Do you have anything in writing that outlines what she is entitled to? The issue here is, what is to stop her from claiming that she is owed money? Remember, there are plenty of real estate attorneys in Manhattan.
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Sat Oct 14, 2017
Kathy Burgreen answered:
All lenders in NYC offer FHA loans. The issue is the type of home you are buying. FHA loans are for condos and single or 2 family houses. FHA loans cannot be used for coop buildings. Coop buildings require conventional loans. In NYC, the majority of housing is coop and condo buildings. Single and 2 family houses are in eastern Queens and Brooklyn, Staten Island and the Bronx. There are some in northern Manhattan too.

Given the above, what is your budget. To use FHA for a condo or house, your pre approval needs to be at least $700,000. If your pre approval is below that, then you are looking at coop buildings with lower asking prices but require conventional loans.
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Sat Oct 14, 2017
Kathy Burgreen answered:
You can refuse to sell your home to a buyer who intends to use it as an investment property. However, if you are working with a realtor, expect your realtor to put pressure on you to accept the deal. There is also the question of commission owed. The listing contract you signed has a clause that states - you will owe a commission to the brokerage provided your realtor brought a willing and able buyer to purchase your home. This means if the buyer doing a 1031 exchange was willing and able to buy your home, then you will owe a commission to the brokerage. Listing contracts are worded that your home does NOT have to be officially sold in order for the realtor to collect a commission. Just that the realtor brought a buyer who is willing and financially able TO buy your home = a commission.

If you want your agent to bring another buyer, you need to expect your agent to start getting lazy because there is no incentive to bring a different buyer. He / she already collected your commission. Why work to bring a 2nd buyer?
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Wed Oct 11, 2017
Anita jones answered:
If anyone of you are looking for a good, reliable, upfront, fast closing mortgage broker, please contact us at www.leanmeanmortgage.com. We are licensed in NY state.
2 votes 7 answers Share Flag
Tue Oct 10, 2017
Faith T answered:
Hi,

I have emailed you regarding this concern.


Thank you for using Trulia!
Faith
Consumer Care Advocate
http://www.trulia.com/help/ask/
0 votes 2 answers Share Flag
Mon Oct 9, 2017
Paul Ramirez asked:
Mon Oct 9, 2017
Vies.nepre asked:
Adult Friend Finder When you are utilizing the site, ensure that you avoid potential risk and look at individuals before you get together. In the event that you take no chances then it is…
0 votes 0 Answers Share Flag
Sat Oct 7, 2017
Schul47 answered:
I am going through the same thing. But I live in Michigan. I have never experienced anything like this in my life. We are going on 3 months went from a 15 yr to a 30 yr interest rates went from 3.875% to 4.875% They have copies of 4 of my paycheck stubs and ask me to write out a letter explaining my bank deposits. This is not normal. I am sure I am not the only one that has been or is going through something like this. I have seen many complaints similar to mine on the net. How can a consumer protect themselves from banks that conduct business this way ? I could write on and on but this space is only so big. Any help would be greatly apprciated. Schul47@yahoo.com ... more
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Sat Oct 7, 2017
Kathy Burgreen answered:
Go to PATH's website. Also the commuter bus. Whatever you do - DO NOT DRIVE. You are correct. You will spend a good portion of your paycheck with gas, tolls & parking. Not worth it. ... more
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Fri Oct 6, 2017
Maggieandjeff80 answered:
We DEFINITELY had this problem with Wells Fargo when we first got our loan. We eventually did get a mortgage with them, but realized they were waiting for the rates to go up. THIS WEEK we've had problems with them (not the first time) taking out $200 for a $2000 payment. After tons of time and worry, I lost my cool when they told me they'd wave the $12.00 fee for their mistake. This after they never put in the "work order" they stated they would, nor did they call me back on a Friday at 4:00 as promised. I was routed to four people through perseverance before it was resolved. Now they've taken the payment over the phone and I fear for our security as they didn't get how it was insulting to hear they'd waive the fee for their mistake.. The first night it could have been resolved vs the fake Friday call that ever arrived and the fake work order. Ugh! I want $12 each call! ... more
0 votes 91 answers Share Flag
Fri Oct 6, 2017
dovedowns asked:
monthly payments? I plan to make one annual payment towards each (tax and insurance) per year? I'm thinking in doing so, I can lower my monthly mortgage payment, increase my down payment…
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Fri Oct 6, 2017
Susie Kay answered:
If you are paying with cash then there's no need to check your credit. No lender is involved.
0 votes 2 answers Share Flag
Thu Oct 5, 2017
Kathy Burgreen answered:
Try looking in Jamaica, Queens or the Bronx. You need to find regular rental apartments that are priced the same as your voucher - not $1.00 over. Most of Queens is very expensive so landlords will not accept tenants who cannot afford the full market rents. If you can pay the difference between the voucher and market rents, landlords will accept you. Take the bus or subway to the Bronx, Rentals are much cheaper. ... more
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Thu Oct 5, 2017
Kathy Burgreen answered:
As a former New York City area realtor, brokers who have buyers interested in Dubai will be happy to refer them to you provided the broker is paid a referral fee. The referral fee needs to be paid upfront. Typically, high end brokers are interested in getting buyers for their listings in New York City. They are not interested if buyers are meeting developers in Dubai because they are not being paid for it. As soon as these realtors get paid, they will be interested. ... more
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Wed Oct 4, 2017
Kathy Burgreen answered:
As far as I know, lot sizes on both Zillow and Trulia have been listed in sq. ft. - not acres. Many listings on these websites are less than 1 acre, so sq. ft. would make more sense.
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