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General Area in Valley Stream : Real Estate Advice

  • All156
  • Local Info16
  • Home Buying46
  • Home Selling6
  • Market Conditions7

Activity 5
Tue Jun 9, 2015
Rosemary Talkin answered:
Hello Magblusteel, Getting a new rental property in Valley Stream next week. Let me know what you are looking for so that we can continue. Rosemary Talkin, Exit Links Realty, 917-375-3024 ... more
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Thu Jul 4, 2013
Hezrell Vasquez answered:
Good afternoon Rosalia,



Are you trying to find out how many properties sold in zip code 11581 last year? Also if you have any other question, i could be reach directly 646-944-5685 ... more
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Tue Apr 16, 2013
Trevor Curran answered:
Rent To Own is a better deal for the Seller than it would ever be for a potential Buyer.

The basic concept is finding a way to "force" savings towards a down payment by including a portion of the monthly rental that goes towards that savings. You pay your rent every month and your Landlord deducts a pre-determined amount to hold in a special bank account, called an "escrow" account. Your Landlord holds that money until you have saved up enough---through this "forced-savings" method---to meet a down payment to purchase the home.

The terms of the purchase price, including the down payment amount, and the amount to be set aside from the rental for down payment, are all set down at the time of lease signing.

It's all about helping the renter/tenant save up enough money for a down payment to buy a home (in this case, the one you're renting). But this is a better deal for the Seller because he gets to lock in a purchase price and a buyer today for a future sale.


Saving money for a down payment? Well, heck, you can do that on your own.


If you are dedicated to the idea of buying your own home, you can create your own savings plan to save up enough money for a down payment. And when you have saved up enough for a down payment, if that takes a year or two or more, YOU get to decide on the price you're willing to pay for the house at that time based on current market conditions. You won't be locked in to a price that may be a lot higher than what the house is worth in the future.

With Rent To Own you'll be locked in both to the house and to the price, even if it takes you 3 years to save enough through the forced savings of the rent payments. What happens if three years from now your life situation has changed? Maybe you need a bigger/smaller home. Maybe your employment has relocated. Maybe your credit or income is insufficient to qualify for a mortgage loan.


Find a way to save up on your own; not with Rent To Own.


Sit down with a local Mortgage Banker and get yourself prequalified, too. You may find you're better qualified than you think you are, and, if you're not, at least you'll know how much loan your income and credit qualify you for, and how much you have to save towards down payment and closing costs.

Trevor Curran
NMLS #40140
Mobile: 516-582-9181
Office: 516-829-2900
Fax: 516-829-2944
PowerHouse Solutions, Inc.
185 Great Neck Rd, Suite 240
Great Neck NY 11021
Licensed Mortgage Banker – NYS Dept. of Financial Services
NMLS#3528

*If you thought my answer was helpful, please give me a "Thumbs Up" or "Best Answer." Thanks!
... more
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Wed Apr 23, 2008
Francesca Gillam answered:
I would say by driving around, going to the nearest playgrounds, supermarkets, schools, etc.
0 votes 4 answers Share Flag
Fri Aug 10, 2007
Regina Dooling asked:
has this home been sold
0 votes 0 Answers Share Flag
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