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Home Selling in Yorktown Heights : Real Estate Advice

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  • Local Info12
  • Home Buying25
  • Home Selling4
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Activity 11
Wed Dec 13, 2017
Kathy Burgreen answered:
I'm a retired or former realtor in lower Westchester County and I feel for you because I know what probably happened. First - ignore the realtors for now. First step - visit in person Westchester County Tax Assessor's office in White Plains and look at the description that Westchester has plus the property card. Does it match with your home. If not, don't tell them that you have an extra bedroom and bath because they will want to bill you for property taxes that you failed to pay and we both know Westchester has the highest property taxes in the U.S.

What happened when you bought the home is at the bottom of every listing, there is a sentence in tiny print that states "Information contained or provided in the listing is deemed reliable but is not guaranteed. Buyer is responsible for verifying information and not to hold brokerage responsible for inaccurate information." This means that if the listing for your home stated 4 bedrooms, 2.5 baths and it was wrong, it was your responsibility to verify with Westchester County Tax Assessor the correct number of bedrooms and baths. A buyers realtor is supposed to verify the facts in the listing and was supposed to do this on your behalf. Unfortunately, your realtor failed to verify the facts and you didn't either.

Now that you are trying to sell your home, you need to make some tough decisions. You can either pay for drawings, electrician, etc. to try to get a Certificate of Occupancy for the extra bedroom and bath. However, this route will alert Westchester County that you will need to pay back taxes on the extra bedroom and bath. The other option is to sell the home as 3 bedroom, 1.5 bath which means your asking price will be much lower than what you thought it would be.

I would run all possible scenarios and work out the math. You can ask the county tax assessor - hypothetically, if you need to pay back taxes, approximately how much would you need to pay. Try putting on some charm and a smile. See if they can work out something that won't break the bank.

I know Yorktown really well. If it were me, I'm pretty sure the numbers would be in your favor selling the home as a legal 4 bedroom, 2.5 bath. I would also try selling your home by owner - don't use a realtor. You should Google "Flat Fee Boker Westchester County, NY" and contact some local realtors. A flat fee broker will list your home in the MLS (Hudson Gateway Association of Realtors HGAR) for a flat fee and you will be responsible for marketing, advertising, disclosures, deadlines, etc. You save about 3% by not working with a full service broker. You will be required to pay a buyers broker commission - about 3%. At least you can save some money since you need to pay service contractors and get a CO. It will be cheaper paying for a real estate lawyer instead of a realtor's 3% commission.
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Tue Jan 27, 2015
Annette Lawrence answered:
They are as good for resale as a swimming pool.
Some buyers don't mind while other say 'Absolutely not!'

In Florida owners are PROHIBITED from selling electricity they produce. Only Florida power companies can sell electricity. That means there can be no 'selling to the grid' benefits, no income producing potential. The consequence? In Florida, the SUNSHINE STATE, solar is an unwanted orphan.

That leaves only the utility saving benefit as the tangible and the intangible being 'Save the Planet' mission and possible qualification to membership in the Sierra Club and Audubon Society.

Will saving 60% on the electricity bill compensate for those warts on the roof?
Are those warts a badge of honor that coupled with the Tesla makes a statement to society?

If the owner can show an undeniable benefit, (income/saving/society) then it will be good for resale. Otherwise it just a wart with added costs waiting in the future.
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Mon Jan 26, 2015
Christopher Pagli answered:
They are typically good for 60-90 days depending on the lender. If you haven't found a home during that time the bank can usually issue a new letter as long as nothing has changed with your credit and finances, happens all the time.

Christopher Pagli
Accredited Buyer Representative
914.406.9023
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Sun Sep 21, 2014
Christopher Pagli answered:
Hi, Philip, Below is a link to a video I just produced on this very subject. hope it helps clarify for you! Just copy and paste into your browser if you can't click the link.

http://youtu.be/gnTtmX6SDNw

Chris
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Tue Apr 22, 2014
Martina Ryan answered:
You know it is overpriced when you are getting very little activity. If you see other similar properties moving & your house is not getting any interest, then it is time to re evaluate and change the price. In my opinion it is better to do it once and do it correctly. You need to drop to market value or even below just to get some interest. ... more
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Mon Jun 24, 2013
William Butler answered:
PRICE, PRICE, PRICE. That is what excites buyers the most. Do not overprice a house. Yes there is a uptick in the market and you can take advantage of it. But if your home was on the market at price A, and there was no activity, then dont raise it to price B because the market is up. Bear in mind interest rates went up a hole point this pat month. So pricing is key what will draw a buyer to you. then the other comments about Updated Baths and Kitchens are great. But in my opinion if buyers dont like the ktichen or baths, they will change them to there liking. what makes me feel good for my buyers is how are the bones of the house. How old is the roof, the heating system, hot water tank, septic system. have there been any issues with the above. is there a service history and warranties for these systems and appliances. Does the seller offer a home warranty to buyer. are you offering an incentive to buyers in form of credit for part of closing costs. ... more
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Tue Nov 24, 2009
Debra (Debbie) Rose answered:
Sulky - thanks for clearing up the confusion , and also reaffirming my sentiments regarding the value of open houses. This is an often-discussed topic here, and the opinions certainly vary.
My personal experience has taught me that your open house experience is more the rule, and not the exception.

I wish you good luck, moving forward, with a sale of your home...........now that you gave the OH a try...make sure you are priced right...have great photos on the internet and work closely with your agent in strategically marketing your home!

Good luck, and happy Thanksgiving!
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Mon Nov 23, 2009
Anthony Crecco answered:
hi sulky,
days on market is important. if the property is priced right, it will sell. dom is directly related to price.
hope this helps
thank you
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Wed Nov 18, 2009
Barry Malawer answered:
If there is no whole house CO on the property in town hall the title company may pick this up in their title search. Just because previous searches did not doesn't mean that it will not be picked up by the present search. If the title company choses not to grant title insurance without the CO then it will be up the home owner to arrange for the CO. Each town has its own unique process which may be costly and time consuming but necessary for the sale of the property. It is best to arrange for the CO in advance if you are thinking of selling your home. ... more
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Wed Nov 18, 2009
NoreenandWayne answered:
Hi Again Adayscalm! Do you have questions about the competance of your Realtor? Then you should consider hiring someone else for the job.

If your basement difffers from the tax assessor and the building dept and it will between the 2, then you have to get a CO, especially if your basement has a bathroom, or maybe it's a walkout - you have to have legal ingress & egress... You could just say to the Town, this is what I have, I plan on selling and I need YOUR help to make it all legal. If you ask for help, they will bend over backwards to accomodate you!

We had a client in Yorktown with a raised ranch, finished basement with full bath. The previous agent lncluded the lower level in the sf. The lisitng expired. We previewed the home and we went to the town hall and found there was no CO for that bathroom. It also turned out that they had no legal egress. SO, we got a plumber for them, a contractor to change a window, arranged for the NY State inspector and town inspector and it took less than 2 months. We listed it at the correct sf, lowered the price to where it should have been and had an offer in less than 30days at 98% of the selling price!

Any questions, feel free to call or email direclty NorWay@NoreenandWayne.com
Noreen & Wayne
Associate Brokers
Better Homes & Gardens Rand Realty
914-4-6-5291
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Tue Jun 24, 2008
Jeremy Lehman answered:
Price is always the issue in a market like this. As stated below, seller motivation is the biggest concern. Buyers are looking for the best value, so if your home isn't the best value, it won't get shown as much as the other homes that are. Any seller WAITING for the market is not going to have much luck. Seller motivation is key because if you are really motivated, you will do anything to get your home sold, including lowering the price until buyers find it to be a great value. ... more
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