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10019 : Real Estate Advice

  • All27
  • Local Info1
  • Home Buying8
  • Home Selling2
  • Market Conditions1

Activity 2,790
Thu Feb 28, 2013
Amy Rea answered:
I'm not sure what you mean by How Risky are HDFC apartments...

Find a neighborhood that you like, and a space that you can enjoy, renovate it, move in, and enjoy it. When you sell it, you will not lose your money.

When purchasing an HDFC Coop, however there are details that vary, so pay attention so you are informed:

(a) Income restrictions vary and are updated every year, as they are percentiles of median income
(b) Seller paid flip tax or building funding fees vary per building, so find out what it is when you wind up selling
(c) When does the HDFC status run out?
(d) When did the HDFC become an HDFC Coop

Best wishes, always
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0 votes 2 answers Share Flag
Mon Dec 9, 2013
Mitchell Hall answered:
No, The seller pays their attorney and the buyer pays their attorney. However, often if you purchase from a sponsor "un sold" shares in a coop. The sponsor usually includes in the offering plan or prospectus that buyer pays sponsor's attorney fee and transfer tax.

Everything in real estate is negotiable. A buyer's agent will know what to negotiate on your behalf.


Mitchell Hall
Senior Associate Broker
The Corcoran Group
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0 votes 6 answers Share Flag
Mon Mar 18, 2013
Christopher Pagli answered:
No, each party pays for their own attorney unless you mutually agree to do otherwise.
0 votes 7 answers Share Flag
Tue Mar 26, 2013
Anna M Brocco answered:
Yes, as a buyer it is highly recommended that you hire an attorney of your own....
0 votes 12 answers Share Flag
Mon Mar 4, 2013
Mark Fisher answered:
The listing agent is legally obligated to present all offers to the sellers until contracts are fully executed, signed by both you and the sellers. It's not typical for something like that to happen but it is definitely possible. If the offer was not higher than yours and it was accepted then there would be an ethical issue. ... more
0 votes 16 answers Share Flag
Mon Feb 25, 2013
Antony Paul answered:
I can definitely help in this matter, as I have helped many other internationals set up residential and commercial property business investments in America. I have an experienced attorney in this matter who will be able to help properly form your company as an international investor. In addition, my firm and I will be able to help you acquire a warehouse and apartment as specified. My expertise would suit well to make sure your company and youself as a principle are properly set up to maximize efficiency and tax benefits offered for a US company, as well as respective property. Let me know if you would like to set-up a conerfernce call to discuss the matter futher. I look forward to hearing from you. ... more
0 votes 3 answers Share Flag
Mon Mar 11, 2013
Janet Nation, CBR answered:
A less than desirable credit score, from my observation, is the biggest problem for agents helping renters find a home.
0 votes 4 answers Share Flag
Sat Feb 23, 2013
Jubilong answered:
They are actually not sold only to companies. To be honest, I would advise going outside of new york. You can purchase tax liens out state. Rates and rules are better outside of NY. They are typically held at either in person or online auctions and individuals can bid and purchase them. Good luck! ... more
0 votes 1 answer Share Flag
Mon Nov 24, 2014
Joelle Larroche answered:
I have recommended him to many clients who were all very satisfied:

Charles M. Chernick, J.D., CIC
Arthur Chernick Co., Inc.
370 Lexington Ave. at 41st St.
Suite #1400
New York NY 10017
T: 212-697-2147 X 201
F: 212-972-0589
C: 914-588-6455
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0 votes 12 answers Share Flag
Fri Feb 22, 2013
Robin C.k. Plevener answered:
In this case, "Agent" refers to either managing agent or the broker -- whichever entity was representing you. Is this a postwar or pre-war building? If postwar, there isn't a lead paint problem anyway, so the agent was probably thinking it wasn't an issue. But it was certainly a conversation that should have been had. IS this a new lease or an old lease you are now reviewing? If it is old and the tenant initialed c) & d) and signed the document, and then you signed and sent back and no one brought up the lack of signature on e) I would leave it alone.

If this is a new lease, call me at 917-968-5912.

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0 votes 6 answers Share Flag
Sat Mar 2, 2013
Klara Madlin answered:
A condop is a coop with condo rules. Easy purchase and sublet rules unlike a coop, however, the you own shares and taxes are included in the maintenance
0 votes 14 answers Share Flag
Sat Feb 23, 2013
Debra (Debbie) Rose answered:
You left off big pieces of the puzzle ---- your debt and credit scores!

However, with an income of $61,000....assuming no debt (and that's a big assumption),and acceptable credit scores, it seems unlikely you would be approved for a loan as large as $360,000.

You really should speak with a mortgage rep so you know for sure how much you can borrow.

Best wishes..........
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0 votes 15 answers Share Flag
Sun Feb 24, 2013
Raoul Sodogandji answered:

It is very simple.

You call a Real Estate Professional and he/she helps you thru that process.

Good Luck.

Best Regards,

Raoul Sodogandji
Member of ELITE
Licensed Real Estate Agent

(o): 212.252.8772 (EXT.782)
(c): 347.993.8333

" It is common in all businesses that the level of customer service, is usually based on income generated from that service given; which is fairly unfair to those who need just the same service of selling, buying or renting in New York City.

That's one of the reasons why we came up with ELITE. It is the highest standard level of same service given from a $2000 rental to a $40 Millions sale, and instead of treating the customers differently, we've decided to give them the ELITE service.

Let's help you with our services, no matter your budget, what you are selling or want to buy, we will give you and your referrals the same best experience ever lived. "
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0 votes 11 answers Share Flag
Thu Feb 21, 2013
Elena Ravich, Esq. answered:
financials are usually provided at the time of the offer by the seller's agent and should be examined by your accountant and attorney - they are not public information. You can find out about assessments and planned repairs from either your own broker, seller's broker or the building management company directly. Only someone who is working very closely with this building and has in-depth knowledge of its financials and approved budget would be able to answer these specific questions. ... more
0 votes 3 answers Share Flag
Fri Mar 8, 2013
Jenet Levy answered:
Yes, it is definitely a good idea as well as a great time to buy and rent out a condo in NYC. Our market has been trending up and inventory is tight, which will only cause prices to continue to rise. That is why jumping in now makes a lot of sense. At the same time, mortgage rates are still low, though beginning to rise, so taking advantage of these historically low rates now is also wise. It is a strong rental market as well, so you should not have difficulty renting out the condo once you purchase it. ... more
0 votes 8 answers Share Flag
Thu Mar 7, 2013
Tom Dawson answered:
Hope you're not an agent. You're violating a bunch of Fair Housing laws.
A real estate salesperson in NY can't get into anything in regard to race, age, children in talking about an apt. ... more
0 votes 5 answers Share Flag
Wed Mar 13, 2013
orit kahalani answered:
Well I really like Brooklyn. For so may different reasons. However based on your budget I can recommend areas. Although this days you can still get good deals in nyc too
0 votes 10 answers Share Flag
Tue Feb 19, 2013
Jen Blanchard answered:
Give me a call so I can understand your situation. Jen 949 702 4559
0 votes 8 answers Share Flag
Wed Feb 20, 2013
BOB Brooks answered:
reviews is the best way to start. yelp reviews.
proximity to the property-you want them in pretty close proximity to the property in question
6% of the rent roll less expenses is standard fee to a property management company.
years in business is a good sign- the longer the better usually!!
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0 votes 5 answers Share Flag
Wed Feb 20, 2013
Janet Nation, CBR answered:
That obviously is going to depend on the agreed upon arrangement by all parties.
0 votes 3 answers Share Flag
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