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Home Buying in Ridgewood : Real Estate Advice

  • All57
  • Local Info5
  • Home Buying8
  • Home Selling4
  • Market Conditions3

Activity 8
Mon Feb 17, 2014
Anna M Brocco answered:
No link is visible, however highly unlikely that the cost is $5.00 per month....
1 vote 2 answers Share Flag
Tue Jan 21, 2014
Felix A. Garcia answered:
Hi Nicholas

Just cause a home is old doesn't mean its not up to code... when buying a home you should get a home inspection the inspector can tell you many things regarding this information... also if your getting a mortgage that pretty much means its good to go... now if its an "as is sale "cash deal then you might have to look into upgrading..

Thanks Felix
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0 votes 4 answers Share Flag
Wed Nov 20, 2013
Anthony Fernandez answered:

Hope you were able to find answers for your question. Wish you'd stay in the neighborhood, but if you are interested in the market value for a sale, my team can assist you in pricing and then implement the tools to get it done.

However, if it is for valuing the property for estate, property tax appeal, refinance, divorce, etc, I have a network of professionals including a few good appraisers that I can offer you. You can interview each and work with whomever you're comfortable.

Best of luck and I'll see you in the neighborhood.

Anthony Fernandez GRI, SFR, CDPE
NYS Licensed Real Estate Broker | NYS Notary Public
Re/Max Liberty
718-848-4700 x227
... more
0 votes 19 answers Share Flag
Sat Oct 5, 2013
Anna M Brocco answered:
Wed Aug 14, 2013
Chiarovano-DelGrosso Realty answered:
Sun Oct 12, 2008
Antolin Du Bois, CFP® answered:
GR? Greenpoint?

1) Maybe Craiglist under "For Sale By Owner" They will probably be the only ones willing to wait out a rent to own deal- Real Estate Agents want to get paid at closing.

2) % Is negotiable. Many times the renter pays an extra X%, to be applied to the purchase price at closing in Y months, years, at Z price. If you don't close, you lose the down payment. So often the upfront down payment is NIL

3) If you don't close, you often lose the extra rent money. Basically, that is what the seller gets for keeping it off the market for X amount of time.

4) The problems of doing this are twofold: If the house dramatically rises in value, the seller might not want to keep the deal, since you get all the equity. If the house drops like a stone for X more time, then you paid 20% more for a rental, since you probably won't want it and the bank won't qualify you for the deal.

5) Most rent to own places are closed within a year or two. No wise owner will want to wait any longer.

6) The potential pitfalls from your point of view is an unscrupulous owner who will use the smallest excuse not to close with you in X amount of time. From his/her pov, you might simply balk a paying such an "unfair" price, and try to walk out of paying 20% more for something that is clearly never going to be a good deal. I had a friend who tried to rent to own their place, and the tenants balked at paying the extra. She lost the place, but won in small claims court- a Phyric victory, needless to say.

With prices the way they are now and will continue to be for a couple of years, simply rent someplace cheap, save the extra 20% yourself, and build up a real down payment. Much better for you, probably better for the owner.

Good Luck
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0 votes 1 answer Share Flag
Tue Jun 17, 2008
Anna M Brocco answered:
Since this question is over 2 years old and a new comment popped up--please let us know, did you end up purchasing the property in question.
0 votes 4 answers Share Flag
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