My son is entering medical school this fall and is looking for a condo or apartment to purchase which he will sell in 4 years. We can pay cash.

Asked by Tammy Flanagan, New York, NY Wed Feb 1, 2012

Can you help us understand how to work with a bank on this or other properties?

Tammy Flanagan 615-426-5030

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This question is about this property: http://www.trulia.com/foreclosure/3071346183--Convent-Ave-23…

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13
Fern Hamberg…, Agent, New York, NY
Wed Feb 1, 2012
BEST ANSWER
Hello mom,

Co gratulations on your son getting to medical school
It,s an accomplishment for both the parent and the son..
I'm glad you are making a smart move...
Why did you decide to go for condos instead of coops?
You can definitely by either and sell them in four years.
Where is he going to medical school?
Fern Hamberger
646-660-0060
Fern Hamberger
1 vote
Mitchell Hall, Agent, New York, NY
Wed Feb 1, 2012
Hi Mom,

Congratulations! Unfortunately the listing linked above most likely does not exist. Realtytrac is a subscription service that you pay a monthly fee for and they send you listings of REO's bank owned properties. Many don't exist or are inaccurate.

There is no 23 Convent Avenue. Most of the buildings on Convent Avenue are coops, rental buildings and single family homes. I only know of one condo on Convent Avenue. I recently sold a 1 bedroom coop on Convent Avenue and it sold for less than the "so-called bank repossessed" property advertised. It was not a bank owned property.

In Manhattan it is important to work with an experienced local buyer's agent. Our housing market is unique and often puzzling to newcomers. Please contact me with a any questions or if I can help you.

Best,

Mitchell Hall, Associate Broker
The Corcoran Group
917-312-0924
mhall@corcoran.com
1 vote
saul schevel…, Agent, New York, NY 10128, NY
Thu Feb 2, 2012
Hi Tammy
I'm a independent Real Estate Broke, please let me know to the medical school your son will attend to offer you some of my exclusive listings . I also will like to know your budget
As an independent broker I can offer a full commitment to get you and your son an apartment that will satisfied your needs
Please contact me at sscheve@aol.com
Always at your service
Saulo
0 votes
Marianne Cic…, Agent, NY,
Thu Feb 2, 2012
Hi, I'm not sure of the question, but I can see from the link that you are looking at foreclosure properties. I will offer a piece of advice from my own experience in that area. Contrary to common knowledge, banks actually do give homeowners ample time to recover from default pending foreclosure. The bank does not want to take back the property, and/or to be financially responsible for the taxes and maintenance expenses. The process is always a struggle for the homeowner, and as a result, foreclosed properties are in physical distress as well as financial, and the costs involved in making the space livable need to be calculated into your purchase. If you are the winning bidder at a foreclosure auction, there is still a delay in getting hold of clear title, and then you are faced with possibly months of renovations.
I'm sure you don't want your son to be distracted from his studies, by having to monitor the work of sub contractors. It's still a buyer's market, and cash is still king! I would be happy to help you negotiate a great deal on a purchase for your son.

Marianne Ciccantelli
Terris Realty
Mobile: 917/273-8347
0 votes
John Peitler, Agent, NY,
Thu Feb 2, 2012
Please call Mr. Joseph at 212-714-1027 ext 14 for assistance. Good luck to your son.!
0 votes
Claudia Barr…, Agent, New York, NY
Wed Feb 1, 2012
Dear Ms. Flanagan,
Congratulations to your son!
I'd be happy to help you and your son find the right property for your needs. The property you are inquiring about, on Convent Ave is near City College. If that is the area you are interested in, there are other good properties which would be a more straight forward purchase for you. Foreclosures can be complicated and take a long time to close. In general, NYC closings on a coop sale can take 3 to 4 months, a foreclosure takes longer. You will need to pass a board review even if you pay all cash. At the Corcoran group, we are experts at helping buyers get what they want. Call or e-mail me to discuss your needs.
I look forward to hearing from you.

claudia.barritt@corcoran.com
212-941-2538
0 votes
Rosemarie De…, Agent, New York, NY
Wed Feb 1, 2012
Congratulations to you and your son! He would probably like to live near the school . Can you tell me which medical school he is attending and I will send you some possible listings. You can reach me on my cell at 917 407 8452 OR e mail me at rdeane@halstead.com. It is a good time to buy. My company has many listings that would suit your situation.
0 votes
Jennifer Chi…, Agent, New York, NY
Wed Feb 1, 2012
You now have the opportunity to search approximately 20,000 exclusive listings, representing the entire database of residential listings available through the membership of the Real Estate Board of New York (REBNY).

These are the most accurate listings you can find in NY because they come from the brokers themselves; there is no bait and switch, no duplicates, and no opens; and are updated every hour.

I am also a licensed appraiser for NY State which will ensure that your son is not overpaying for the condo he is thinking of purchasing for cash.

Read more about what we can do for you:
http://www.buyandsellmanhattan.com/why-me/

Jennifer Chiongbian
SVP/ Associate Broker
Rutenberg Realty NYC
9172502284
0 votes
Blanca Marsh…, , New York, NY
Wed Feb 1, 2012
Call me if you have any questions. Experienced buyers agent here in New York City.
Blanca Marsh-Weinstock
blanca@manhattanliferealestate.com
0 votes
Egen Warner…, Agent, New Rochelle, NY
Wed Feb 1, 2012
Hi Ms Flanagan

What areas are you currently looking to make this purchase. Please contact me when you can. I will either help you or put you in contact with the right people. Also remove you phone number from this post your phone will ring all day and night.

Egen Warner
Associate Broker
Coldwell Banker Real Estate
1-914-424-7231
Web Reference:  http://EgenWarner.com
0 votes
The Ldm team, , New York, NY
Wed Feb 1, 2012
That's great. We should discuss several different factors about the purchase-- closing costs, location and elements important for resale. I am available at 9176584755. Laura at brown harris stevens
Web Reference:  http://Theldmteam.com
0 votes
Kathleen Bar…, Agent, New York, NY
Wed Feb 1, 2012
You should work with an agent that can guide you through the whole process. As New York native and someone who went to school here myself I'd be happy to help. Best of luck, congrats to your son on med school!

Kathleen Barrett
845-642-2009
kbarrett@kwnyc.com
0 votes
George Torres, Agent, NY, NY
Wed Feb 1, 2012
Where are you looking to buy call me George Torres 917-577-2754
0 votes
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