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Home Buying in Rochester : Real Estate Advice

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  • Local Info32
  • Home Buying141
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Activity 205
Sat Aug 2, 2014
Alvin King answered:
It sounds like your experience in purchasing Foreclosed properties is vast. Are you looking for properties in any specific city? If you are looking for properties in the Las Vegas Metropolitan area, I will be happy to assist. My contact information is listed below. Good Luck!

Alvin King GRI, BA
Elite Realty
702-339-7358
lvkingteam@yahoo.com
http://www.lasvegaskingteam.com
http://alvin095614.las.fusionmls.com
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Thu Jul 31, 2014
Javier Meneses answered:
The first thing I'll say is that almost always, the organization who will give you the grant, uses not just your income, but the entire household income to qualify. I'm sure you'll need to check if you and your boyfriend's income would work. The second thing is that you really cannot go by calculators and other things you do independently to see how much you would qualify. You will have to sit or speak with a Loan Officer and go over all the necessary documentation so that he/she can determine what you qualify for. The income requirements for grants is one thing, but how much that income allows you to qualify for is another. Most of these grants will have an effect as to how much you'll be able to qualify for. For example, if a lender pre-approves you for a $150,000 purchase, the grants program have their own requirements which always result in you qualifying for less than what the lender is willing to. The grant program almost always have a list of lenders they work with, and sometimes you can not be eligible for a grant if you do not obtain your loan from one of those lenders. There are a bunch of things here that need to be considered. Find out more details on the grant and if you are restricted to a specific loan program or lender. This will dictate a lot. Good luck!

If my response was helpful, consider clicking BEST ANSWER!

Javier Meneses
Assistant Director of Sales
ACADEMY MORTGAGE CORP
105 Conklin Street
Farmingdale, NY 11735
jmeneses@bankamc.com
(516) 606-9648 Cell
(631) 227-3258 Office
(516) 584-7138 Fax
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Fri Jul 25, 2014
Thomas Kidera answered:
Buyers agents are usually paid by the seller at closing and that amount is set by the seller at the time of the listing. What a buyer can control is hiring an agent who offers REBATES to the buyer from the amount they are paid by the seller.

In NEW YORK, agent rebates to buyers are perfectly legal, but you need to shop around to find a buyer who will agree to pay you a rebate. One brokerage that does pay rebates is WILBROOKE REALTY, LLC.

You can find them at www.wilbrooke.com. They pay 25% rebates to their buyer clients and they work in the ROCHESTER/FINGER LAKES area. Call them at 585 703-4856 if you are buying a home and want full service with a 25% rebate.
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Wed May 28, 2014
answered:
I lend down to a 530 middle credit and offer this program nationwide.

Let's discuss your loan scenario in more detail. Contact me at 800 315 8803. My name is Bart and I have been offering loans since 1987. I am happy to answer your mortgage questions, 7 days a week and review your loan scenario. Until then, I look forward to hearing from you.

Bart Gabe - Lending Nationwide Since 1987

800 315 8803

www.bartprequalifies.com

bart@bartprequalifies.com
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0 votes 5 answers Share Flag
Wed May 28, 2014
Laura LaManna answered:
I can answer this directly if you would like to call me.

Laura LaManna
Associate Broker
Nothnagle Realtors
585-217-7495
0 votes 1 answer Share Flag
Thu May 22, 2014
Thomas Moser answered:
Tue May 20, 2014
answered:
Jenn: It depends on the type of financing you are utilizing.
FHA: requires the debt of the nonborrowing spouse (even if nonborrowing spouse is not on the deed) be calculated into the qualifying ratios for the transaction. This keeps 'the couple' from over extending themselves.
Conventional: does not count the nonborrowing spouse's debt and allows that spouse to be on the deed as a 'Title Only' status.
FHA is more flexible on the qualifying ratios than conventional finacing (they will allow a higher debt to income ratio).
As always, it is highly recommended that prior to even looking at homes, you consult with a lender and get yourself preapproved. Once you get your financing in place, you will know that you can/will close your transaction.
Happy House Hunting!
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0 votes 2 answers Share Flag
Fri Apr 25, 2014
Ryan Dake answered:
Hi Lilbellasicilian--
Sorry to hear about that situation. Its unfortunate how often that landlords do this to their renters. You can buy it from the bank but the ways to do it are limited. If it goes into traditional foreclosure sale, they will sell it on the county steps more than likely. Check with the local county clerk for that information on when the next sale might be.
Another route that is less successful, is getting in touch with the bank foreclosing on it and explain the situation and see if you can maybe work a deal out with them as far as buying it out. I wouldn't get my hopes up on this route because it rarely works. If you do choose to go this route, I would try to get in touch with a manager or somebody in a higher position.
Lastly, legal counsel is always worth having. If you cannot manage to get the property, you will need to figure out your options. A local real estate attorney would be worth contacting and discussing your options. I would recommend sooner than later, too, so that you aren't scrambling to find out what you can do.Your area may have different laws but in Texas, there are laws protecting renters from foreclosure and giving them a few legal options over being kicked out once it transfers possession.
Hope that this helps a bit!
Good luck in your situation.
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Wed Apr 16, 2014
victoriangroup answered:
Hi Brittany...Are you still selling your house at 27 York St. Rochester N.Y.. I have few buyers . Can you Email me some photos & description to my Email victoriangroup008@gmail.com .
0 votes 4 answers Share Flag
Fri Apr 11, 2014
victoriangroup answered:
Looking for Turn key investment properties with little rehab required , located in good area of Rochester NY with tenant in place price from 23k to 30k.....
0 votes 9 answers Share Flag
Thu Apr 10, 2014
Linda Allyn-welborn answered:
Good morning, I missed your original message. Please contact me now with any real estate needs. I look forward to helping you and finding out what I can do for you.
Linda Allyn-Welborn, licensed real estate agent, 585-738-8525 lallyn@kw.com ... more
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Fri Mar 28, 2014
Mony asked:
I've recently been turned down for a short sale AND a deed-in-lieu for a property I own in Rochester, New York.
This is an investment property I owned for over 8 years, and was rarely able…
0 votes 0 Answers Share Flag
Thu Jan 23, 2014
Gary Norselli answered:
Hi Carol,

Education is key when it comes to purchasing your first home! It is important to have an good understanding of the entire process.

As mentioned before, the first steps are to get pre-qualified and find a Licensed Real Estate Agent.

Start by speaking with your bank regarding their rates and programs. Check with your family, friends, or colleagues to see if they have had good experiences with any of their mortgage lenders too. Finally, your Real Estate Agent should be able to provide a few good recommendations for mortgage lenders as well.

When it comes to selecting your Real Estate Agent, don't be afraid to interview a few Agents before deciding who you would like to work with. Your Agent should be able to walk you through the home buying process, point out details that you'll want to keep in mind or consider, provide recommendations and tips at different steps of the process, and be able to answer any questions you have.

Feel free to contact me if you'd like to meet one day soon - I would be glad to help you get started as you begin your home search!

Gary Wolyn
Licensed Real Estate Agent
Keller Williams Realty Greater Rochester West
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0 votes 2 answers Share Flag
Sat Jan 18, 2014
channer answered:
Hi Wayne - I have a property in Maplewood which I am just about to list - it might be more than your budget at as it is a multi-unit (3 units) which is in good condition recently had new windows but it is priced to sell at $55,000. It is being managed for me by a local property manager. Let me know if you are interested and I can give you more details. you can contact me by email mail2@phillippakirby.com ... more
0 votes 6 answers Share Flag
Sat Jan 18, 2014
Raymond E. Camp answered:
Good morning Carol,
1) Establish Financing
a)Speak with a mortgage professional
Receive a pre-qualification for your mortgage loan
Helps determine price range for home search
If you would like recommendations or further assistance feel free to contact me.
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0 votes 4 answers Share Flag
Mon Jan 6, 2014
Raymond E. Camp answered:
Good morning,

Thank you for the question.

As long as you have good credit and would have to be answered by a mortgage counselor.

If you would like a contact please let me know.
0 votes 1 answer Share Flag
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