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Home Buying in Suffolk County : Real Estate Advice

  • All87
  • Local Info8
  • Home Buying44
  • Home Selling9
  • Market Conditions1

Activity 714
Sun May 21, 2017
Dennisjshea asked:
Mon May 15, 2017
Rony asked:
The surveyor inspection reports read natural Doggie dormers (Gable dormer windows) as an addition to the house. This statement stopped my closing schedule as the Bank is looking for CO on…
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Wed May 10, 2017
Ralph DeRosa asked:
Tue May 9, 2017
Javier Meneses answered:
The #1 thing you SHOULD do is meet with your attorney and see about getting your good faith deposit back. Any standard residential Real Estate contract has language that protects you from loosing your deposit in this sort of situations. The seller seems to be in denial. Considering how the market is these days, I can't think of a single reason why you should over pay for a house in Wyndanch. There are too many good deals out there for you to get yourself in this sort of situation. If there is anything I can do to help, feel free to contact me.

Javier Meneses
Sterling National Bank
516-606-9648
... more
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Mon May 8, 2017
Kathy Burgreen answered:
No - definitely NOT in New York. All lenders will verify employment, income, credit history and credit score, debt to income ratio, savings or investments and tax returns.

Take the time now to save up some money, improve your credit, then buy. ... more
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Wed May 3, 2017
Yodavaderman asked:
Other than selecting one particular agent to represent a buyer, does one have no option but to have call each of the hundreds of real estate agents that work in and are familiar with the…
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Sat Apr 29, 2017
Cassonedj913 asked:
Mon Apr 17, 2017
AJ Hernandez answered:
It depends but generally speaking if you are in the same line of work and your income/employment situation is stable or improving you may be able to qualify even before changing jobs or within as little of 30 days of changing jobs. It depends on the income type, supporting documentation and the specific situation. I suggest you contact a lender in your area to discuss the specifics of your file. Also if you were previously in school for the new job that you would be starting in some cases can be sufficient to meet the employment history requirement to get approved. I currently only offer loans in Florida but I hope this helps if you need a recommendation in your area contact me and I may be able to point you in the right direction. God Bless...Psalm 20:4 ... more
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Sun Apr 16, 2017
Gregg Pomeroy answered:
Hello, I'm a mortgage professional.

Do you have other income ?

If you would like help with this or have any other questions please let me know.
0 votes 1 answer Share Flag
Thu Apr 13, 2017
Kathy Burgreen answered:
I grew up and lived in Suffolk County and still have connections. Best school districts as follows: Huntington, Woodbury, Cold Spring Harbor, Dix Hills, etc. As a guideline, the easy way is to go by the price of homes. The more expensive the homes are, the better the school district; the lower the prices of homes, the lower the qualify of school districts.

In the New York City suburbs (Nassau, Suffolk, Westchester, Rockland and New Jersey) it's all about the quality of the public school districts. In ALL the suburbs, homes are priced according to the ranking of school districts. Schools that are highly ranked and excellent quality are where all the expensive homes are. Schools that are ranked low and need improvement are where all the cheap homes are.

Unfortunately this is what makes buyers angry. Everybody wants to live in the good school districts but can't afford it. If this is you, you will need to compromise and sacrifice like everybody else does. What we did was buy a co-op so our kids could be educated in a top school district.
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Thu Apr 13, 2017
Kathy Burgreen answered:
It doesn't matter to the buyer if there is a mortgage or not. The balance due from the mortgage is paid by the seller at closing. As for no money down, the only 2 programs that qualify is the VA (for military veterans and active duty) and USDA (for properties in rural areas defined by the USDA). Buyers also need to meet income requirements.

If you're not a veteran or buying in a rural area, you will need to have a down payment. The lowest down payment is 3%. Also FHA loans require 3.5%.

Your biggest obstacle and major issue is if you are buying a home on Long Island (zip code 11779), you need to learn that this is a hot seller's market because it's a suburb to New York City. Also the buyers closing costs are expensive. Sellers will refuse to pay buyers closing costs. Beware that the USDA loan can only be used in specific parts of Long Island. All of Nassau County does not qualify. Most of Suffolk County does not qualify either, therefore you will be restricted for the USDA loan.

If you are trying to buy a house for free or cheap, forget it. You will lose to buyers who have plenty of cash to pay for homes.
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Thu Apr 13, 2017
Jmcentee2 answered:
Please help. I am so confused. Our home has a CO issued in 1999 by the Town not Village of Southampton. The building inspector who issued it then called the half- finished basement as " unfinished". One side of the room divided by stairs has a carpet and drywall and the electrical box behind a door; the other side has concrete floor, some insulation, open wooden studs, washer dryer, some open shelving, water heater and storage junk. We were told that he called the whole space " unfinished" as even though there is some drywall and carpeting on one side it still is a whole room below ground, and as the totality was not " finished" and there was no box to check on the form as " partially unfinished " it therefore was correctly termed " unfinished". Unfortunately we now are selling the home and after showing the CO to the potential buyers they are saying that they want to see a CO for the " partially finished" side. We bought it with the original CO and never did any additional dry walling or installation etc to the basement except to change wet carpeting when the snowfall of prior years ruined the carpeting. We have consulted attorneys in the area ( and my husband and myself are also attys )but the buyers atty refuses to accept the original CO. Informally we also spoke to a former member of your staff who agreed that there was no issue and the original CO was fine and as there had been no changes and half still remains unfinished the CO of 1999 stands. Can someone confirm this for me please I am old and have spent hours and hours on this. Please please!!! ... more
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Thu Apr 13, 2017
Linda asked:
Wed Apr 5, 2017
UpNest answered:
Hi Karen - I would try consulting with a realtor who knows the local area. Explain the floor plan you are selling or looking for and they should be able to assist you. www.UpNest.com is a great platform to ask realtors questions for free. Plus, it's free to sign up. The realtor can also help you find a similar floor plan/home for less money or a better deal. Hope this helps! ... more
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Sun Mar 19, 2017
Daniel Justus asked:
Mon Mar 13, 2017
Kathy Burgreen answered:
Yes, this IS TRUE. Unfortunately realtors from Texas (Alysse Musgr) don't know what they're talking about and have no business answering questions from out of state.

Property taxes in NY are NOT affected by purchasing a home. They are affected when the county does a reassessment and when voters vote on school and town budgets every year. This is why property taxes are ridiculously high. Owners can grieve their taxes with the tax assessor and in many cases, the taxes are readjusted.

In other states, taxes are affected by a home purchase but not in NY.
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Mon Mar 6, 2017
Gregg Pomeroy answered:
Hello, I'm a mortgage professional.

You can get a loan with as low as a 580 credit score. If you have a score at or above that you would only need 3.5% down payment and you are even allowed to roll closing costs in using a sellers concession.

There are other programs available if your score is higher.

If your score is not above 580 we have a way to raise credit scores quickly, usually within a few days depending on your situation.

I would need more details to determine what you would qualify for.

You are welcome to get in touch with me if you have any questions or would like help with this.
... more
1 vote 1 answer Share Flag
Sat Mar 4, 2017
Scott Godzyk answered:
Verbal offers are worthless. For an offer to become a contract it has to be in writing, signed by all parties and accompanied with a deposit. You may want to contact the listing agent or their manager direct with questions. As far as the listing showing as active on many sites. If they use a MLS feed, it can take anywhere from a couple of days to weeks to update. Most MLS though require updates in 48 hours, but that differs state to state ... more
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Thu Feb 23, 2017
Sid.hudgens asked:
Hi, I am a buyer on a short sale. The seller has agreed to concessions to cover closing costs; however, the bank has rejected the sellers concessions. I simply cannot afford the additional…
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