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Foreclosure in 10154 : Real Estate Advice

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Activity 76
Mon Feb 18, 2013
George Stroud answered:
I really suggest you interview different title companies and ask them these questions:

1) Do you work with assignments of contract? Does the assignor need to be present at closing?

2) Can you do double closings if they are necessary? If so, can one title search be used for the whole process? (it will reduce your expenses)

3) Do you do “dry” closings? (a dry closing is where you don’t actually have the funds to purchase the property, but will be provided the funds by another source the same business day, usually from a 2nd closing)

4) Do you provide lists of NODs, probates, and absentee owners?

5) Will you be willing to provide a discount on volume title searches if all closings take place through them? (typical investor discount is 25%)

6) Can you provide any investor references?
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Tue Feb 19, 2013
Phil Rotondo answered:
Consult with a local Realtor
0 votes 2 answers Share Flag
Fri Mar 1, 2013
George Stroud answered:
If you're going to be flipping/wholesaling houses, REOs may have a stipulation that you can't sell or assign the property within a certain time frame -- sometimes 30 to 90 days. I have yet to come across an auction that places that burden on the buyer.

I"ve also heard of some instances where the banks try to limit the amount you can resell the property for.
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Wed Apr 22, 2015
Josh Barnett answered:
Are you new to Real Estate in:
1. Seller?
2. Buyer?
3. A new Realtor?
4. Person needing to rent their home?
5. etc....
0 votes 7 answers Share Flag
Fri Feb 15, 2013
Jenet Levy answered:
For information on RealtyTrac properties, you have to subscribe to them. They used to offer a free trial, not sure if they still do. If they do, be careful as they charged me for many months after I cancelled and I had to appeal it to my credit card company. ... more
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Fri Jan 11, 2013
Janet Nation, CBR answered:
Can you define your definition of walking away; stragegic default could be considered walking away so what do you mean?
0 votes 5 answers Share Flag
Sat Jun 29, 2013
James Furlong answered:
It probably varies by state but here in MA the association can get 6 months of dues. Best to check with a local real estate attorney.
0 votes 4 answers Share Flag
Mon Oct 29, 2012
Anna M Brocco answered:
Keep in mind that RealtyTrac's information may not always be accurate and oftentimes can be misleading--some of those properties may not be for sale yet, and some may never be, if the default is satisfied by the owner. If you are interested in foreclosures, work with an agent, as most do end up being listed by a broker--he/she will have access to reliable information--also don't overlook traditional sales as some may turn out to be a much better bargain than some of the foreclosure properties. ... more
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Tue Dec 4, 2012
Alison Hillman answered:
Hey Lynn,

That is a great question. Have you started working with an agent yet to start your search? You can get started right here on Trulia: http://www.trulia.com/voices/directory/East_Village-agent--85212

Hope this helps!

Ali, Community Manager
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0 votes 2 answers Share Flag
Tue Dec 4, 2012
William Kim answered:
Hi,

I know of few options available. Can you let me know what areas you are lookig into and size of the apartment? And then I can send you listings.

Please feel free to call or e-mail at your convenience.

Best regards,

William Kim
corcoran group
william.kim@corcoran.com
646.417.4141
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Wed Apr 12, 2017
Janet Nation, CBR answered:
Mon Jul 2, 2012
Toby Jenkins answered:
Firstly properties ion Manhattan were the last into the collapse and the first out. The reason being 72% apts are co-ops where if you could n,ot afford the property you could not get by the co-op board. So no income no asset verification loans simply did not work here. I am a brokerr and get a lot of questions on afforable housing here.there are other options in getting those, but they often come with onerous conditions. You should contact your bbroker with your particular property interest and he can research it for you I am not saying it is impossible just unlikely..
Best wishes in your search, Toby.
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Thu Sep 26, 2013
Tim Moore answered:
I would not think they could seize anything you have if you have not put it up as collateral on the loan. I think a bank might not allow a short sale to occur if you have some assets that could be drawn from to make the loan current though. Just a guess on my part though. ... more
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Wed Jun 13, 2012
Anna M Brocco answered:
Not sure the question is fully understood--do you still own the home, if not who/what would you like to report, are you certain it's in foreclosure, etc.
0 votes 1 answer Share Flag
Mon Jun 4, 2012
Luigi Pecoraro answered:
I am having an open house this coming Sunday from 12:30 to 2PM.
Luigi
0 votes 6 answers Share Flag
Tue May 22, 2012
Dom Pascual answered:
Nothing is impossible but why is your credit score only 600. Ideally, you should get this fixed before you buy. Use this time to increase your downpayment as well as pay down debt. You will be rewarded with smaller mortgage payments and lower interest rates.


--
Thank you!

DOM PASCUAL, J.D., ESQ.
ASSOCIATE REAL ESTATE BROKER
Demsker Realty
"Your Experts in NYC Luxury Apartments & Lofts"
304 Park Avenue South
New York, NY 10010
Cell: (631) 741-2764
E-mail: dompascual@gmail.com
Join my social network: http://cityamicus.com
Company Website: http://demskerrealty.com/
Blog: http://dompascual.wordpress.com/
Listings: http://dompascual.postlets.com/
Twitter: http://twitter.com/dompascualesq
Facebook Profiles: Dom Pascual; Manhattan Broker

** All information contained herein does not constitute any warranties, offer or commitment or obligation of any sort and/or kind whatsoever and is subject to change, error, omission and/or withdrawal without prior notice. **
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Wed May 9, 2012
Anna M Brocco answered:
See link below for helpful information; keep in mind that not all areas have many foreclosures, and not all areas have substantial price decreases; therefore if you are looking to buy, purchase when you are ready....
http://www.mlsli.com/neighborhoodinfo.cfm
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0 votes 7 answers Share Flag
Sat Feb 25, 2012
Alain Picard answered:
Has the property already gone to auction?
0 votes 4 answers Share Flag
Mon Aug 13, 2012
Chris and Jodi Aiken answered:
SImply give a call to your preferred real estate professional. He or she can give you a hand! Good luck!
0 votes 6 answers Share Flag
Sat Oct 15, 2011
Janet Resino answered:
All NYC buildings require insurance certificates for work to be done in your apt. That includes trash out. Some buildings to not enforce it. For your own security and peace of mind it is best to get an insurance certificate. If you want to take the chance, then go for it. By any legal document you have for living in that building you are responsible for anything that is done to the building. There are 100 things that could go wrong and you would be on the hook. Weigh the risks involved. ... more
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