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11050 : Real Estate Advice

  • All24
  • Local Info1
  • Home Buying9
  • Home Selling4
  • Market Conditions0

Activity 20
Sun Feb 5, 2017
Di asked:
Sat Dec 31, 2016
Kathy Burgreen answered:
Maybe. The issue is if you are buying a co-op, you will need to be approved by the co-op Board. They will review your finances to verify that your income is sufficient to pay the mortgage loan + the monthly maintenance fee + utilities + transportation, food, etc. Frankly, your income of $46,000. is low or borderline. If you purchase a co-op for $100,000., you have the $10,000. for the down payment but what about closing costs. You will need an additional $4,000. for closing costs (appraisal fee, attorney fee, etc.)

You need to understand that your lender is only interested if your income is sufficient to pay the mortgage loan, They don't care about the monthly maintenance fee. So your lender could qualify you to buy a co-op. However, the co-op Board may reject you because they don't think you qualify. You will need to find a co-op building that is not strict with reviewing applicant's finances.

If you were thinking of buying a condo or a house, you will not qualify. Your income and credit are too low.
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Mon Oct 17, 2016
Maggie Keats asked:
Thu Aug 25, 2016
Angelica P answered:
Hello,

We didn't get enough information about your problem to resolve the issue. Please provide us with complete property address and we will be happy to assist you.

For future reference, you can feel free to contact us about this type of inquiry through our contact form here:

http://www.trulia.com/help/ask/


Thank you for using Trulia!

Angelica
Consumer Care Advocate
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0 votes 1 answer Share Flag
Sun Apr 17, 2016
Kathy Burgreen answered:
No. Your income is too low and you don't have enough for a down payment. Home prices on Long Island is expensive. Even a 1 bedroom condo sells for $300,000. Property taxes are also very high.

If you're planning to buy, you need to get a 2nd job and try to increase your income to at least 75,000. You also need to save at least $40,000. for a down payment + closing costs.
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0 votes 1 answer Share Flag
Tue Feb 9, 2016
Malgorzata Ringston answered:
You should call your attorney and talk to him about your options. If renovation were made by property owner in 1985 that required a permit and the property was later bought and sold several times, the Building official has the authority to force the current owner to obtain the permit and satisfy all code requirements. Unfortunatly all previous owners are off the hook and the current owner becomes responsible for compliance. Good Luck, I hope somehow you will find better options than 5000
Best Regards
Malgorzata Ringston
Exit Links Realty
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0 votes 8 answers Share Flag
Wed Aug 26, 2015
Oleg Volfman answered:
Hi Matican.

Try contacting one of the local mortgage brokers to get more info. Enid Adinolfi, Residential Home Funding Corp. 631-946-2931.

Good Luck.
0 votes 1 answer Share Flag
Sat Feb 28, 2015
Karen Wu asked:
Wed Oct 29, 2014
Malgorzata Ringston answered:
If the problem is resolved that should not have any affect on the price. Sooner or later we all have to deal with that little problem.
1 vote 9 answers Share Flag
Tue May 6, 2014
Christian Monge answered:
Hello,
Real Estate Agents do not value a home, they estimate and suggest the value by what has sold around the area and what is also currently listed. On the other hand, appraisers go more in depth and in a way lean to protect their lenders. Please contact me if you have any questions. ... more
1 vote 14 answers Share Flag
Wed Apr 30, 2014
Jesse Cardenas answered:
Average selling time for a home can vary and depends on certain variables. Such things to keep in mind when selling your home are: pricing your home properly (the most important factor), effective advertising (using online marketing tools can help track the activity on your home), having a proactive and experienced real estate agent who will devote his/her time and energy to selling your home (constant communication with the client and who knows how to effectively market the property), and market activity in the area.

If you hire an experienced real estate agent, who has the marketing resources to effectively market and sell your property then you should have potential buyers within 30 days. It is important to make sure that any buyer that wants to make an offer on your home that they are pre-approved (rather than pre-qualified). This way the seller has the peace of mind that the buyer can get a mortgage (if necessary) and that the deal will not fall apart at the end due to lack of funds. Hopefully, if you have a pre approved buyer within 30 days then it becomes a matter of having the attorneys draft the sales contract and the bank approving the mortgage. The time for this process can vary depending on the attorney and the lender. Once the contracts are drafted and the mortgage approved then the closing date is set. Usually, as long as everything runs smoothly as possible, the whole process should not take extremely long.

I am a licensed real estate salesperson with Charles Rutenberg Realty, Inc. The #1 selling company in New York. I work with a great sales team who work diligently for our clients. My team includes a mortgage broker who can work to get a buyer pre-approved for a mortgage. If you need any further assistance please feel contact me (646) 404- 1784 or jcardenas.homesales@gmail.com
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0 votes 9 answers Share Flag
Fri Apr 11, 2014
Bill Bodouva answered:
Port Washington, NY 11050 #4 Safest City in NY. Home Buyers, whether you’re laying down roots for the first time or relocating your family, finding a safe city to settle down in isn’t always easy. Researching crime in city after city is frustrating and requires time that most busy Home Buyers simply don’t have. The good news is, Safewise and William N. Bodouva, Jr. at Laffey Fine Homes has the answers you’re looking for. Relevant Real Estate: http://activerain.trulia.com/blogs/wbodouva ... more
0 votes 14 answers Share Flag
Tue Mar 18, 2014
Richard Brody answered:
Discuss this with a number of real estate professionals, and share ideas. It's done quite often when the right agent handles it and you are motivated.
0 votes 6 answers Share Flag
Mon Mar 10, 2014
Richard Brody answered:
Much depends on what you are seeking. Hard to compare private home to a condo because it serves different needs, has different maintenance, etc. Also depends on other factors, including need for convenient transportation into NYC (Great Neck is Port Washington branch of LIRR, and does nor require switching trains), and what one seeks in terms of schools, taxes, conveniences, etc. ... more
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Tue Apr 9, 2013
Judi Monday, CRS answered:
Your best bet is to talk with your Broker about the situation. Many agencies make allowances for the sale of an agent's own home.
0 votes 14 answers Share Flag
Tue Jun 2, 2009
Diane Schubach answered:
Hi, Sharon:

I'm wondering what you mean by ORdd? What are looking for that is different from Westbury?

Let me know.

Sincerely,
Diane Schubach
Keller Williams
917-579-8356

dschubac@optonline.net
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0 votes 3 answers Share Flag
Mon Apr 7, 2008
Zack answered:
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