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11355 : Real Estate Advice

  • All16
  • Local Info0
  • Home Buying13
  • Home Selling1
  • Market Conditions0

Activity 43
Thu Aug 11, 2011
Margaret Hassani answered:
It's up to the broker, because the listings actually belong to the broker rather than the agent.
0 votes 5 answers Share Flag
Wed Jun 29, 2011
Ron Thomas answered:
The Lender's requirements for an Investment property are quite different than for your residence:
Normally, they want at least 20% down; you have 50%.
Hypothetically; if you were dealing with a bank, I would deposit the $150 in that bank and tell them that you wanted to put $100,000 down; and keep the rest for taxes, repairs, safety net, etc.
Your down payment isn't tax deductible, but your expenses are (consult your tax person, please).
You may not want to pay off that credit card debt right now, consult first.
you should be okay.

good luck and may God bless
... more
0 votes 1 answer Share Flag
Sun Jun 24, 2012
Anna M Brocco answered:
You can check out www.mlsli.com for available area properties; also consider working with an agent of your own, he/she will be your best guide.
0 votes 6 answers Share Flag
Sun Jun 19, 2011
Laura Feghali answered:
Hello Doreen,
Look at your listing agreement with your former real estate agency that marketed your home as it will state on there any additional time after the agreement expires that you would still be responsible for paying their commission fee.
Good luck selling!

Laura Feghali
Prudential Connecticut Realty
... more
0 votes 6 answers Share Flag
Tue Jun 19, 2012
Anna M Brocco answered:
Choose the area that best suits your wants, needs, lifestyle and where you know you'll be happy living...choosing areas shouold really be dictated and based on your personL preferences; keep in mind that opinions oftentimes are subjective, what may be good for one, may not necessarily be the case for another. ... more
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Sun May 12, 2013
Anna M Brocco answered:
Be aware that a mortgage pre-approval letter is required in order to determine your price range and for any offers to be taken seriously, therefore before beginning your search, do visit with any qualified loan officer. For available properties in Queens, check out www.mlsli.com Consider researching areas on your own as well and do visit areas of interest more than once; best area should be dictated by personal preferences; real estate professionals are prohibited from steering, enticing a buyer to purchase, or not, in specific neighborhoods. ... more
0 votes 5 answers Share Flag
Tue Jun 19, 2012
Joseph Leto answered:
Good Morning,
Are you looking to purchase a house, condo or a coop? What is your price range and how close to transportation would be suitable for you. If you have any more question please call me.
Joseph Leto
Century 21 Mac Levitt Realty
516-835-4015
... more
0 votes 7 answers Share Flag
Sat Feb 26, 2011
Anna M Brocco answered:
Since no link is visible and no address given, you may wish to ask again, or if purchasing in the Flushing, Queens area, also check www.mlsli.com or if additional information is needed, feel free to contact me directly. ... more
0 votes 2 answers Share Flag
Tue Feb 15, 2011
Anna M Brocco answered:
Much will depend on local area comps--recently sold similar properties in the immediate area; comps are provided free of charge, or consider hiring a professional appraiser; if interested in selling, consider inviting a few local agents from different realty companies--ask their opinion, and ask for a comparative market analys and then gor from there--you may wish to hire one of those agents as your listing agent. ... more
0 votes 9 answers Share Flag
Tue Mar 13, 2012
Anna M Brocco answered:
Much would depend on what you consider better--therefore if you are unfamiliar with the areas, do re-visit more than once, check out transportation, visit the shops, drive around, etc.; then make your determination--if you need additional assistance feel free to contact me directly. ... more
0 votes 4 answers Share Flag
Sun Aug 29, 2010
Anna M Brocco answered:
Much will depend on your overall finances/assets/credit score--consider visiting with any qualified loan officer(s) first, see if you qualify for a loan, how much and have your credit score checked, as their scoring is often different--if your credit needs improvement, your loan officer may suggest great ways to improve it as fast as possible--then go from there. ... more
0 votes 3 answers Share Flag
Thu Jun 21, 2012
Patrick Thies answered:
A seller agrees to pay X% of the sale price to a listing agent to market their home. The listing agent offers X% to any buyers agent that sells the home. The money comes from the sellers proceeds. Some will say that it is actually the buyer who pays the comission because they are the ones who are putting up the money.

The truth is the comission is factored into the list price. Out of the agreed upon sale price, the seller pays for the title, survey, any transfer fees, tax credits, attorney fees and comission.

When the buyer goes to sell, they will have the same expenses and the cycle continues. The value that the homes has is not the agreed upon sale price minus the comission and other fees, it's the whatever the house sold for that is considered the market value. (There is a little more to it than that, but that's the jist of it)
... more
0 votes 6 answers Share Flag
Wed May 11, 2011
Nunzio Zappola answered:
Hi J ,
I am working with international buyers of this market and look forward to assisting you with your real easte goals. Contact me www.Nunzio.Zappola@elliman.com I am also a commercial coordinator in NY so I will be able to help with any investment opportunity you seek.
1 (516) 383-0700
... more
0 votes 4 answers Share Flag
Tue Jul 21, 2009
Jeremiah M. Wean answered:
You can cancel an application at any time. With the appraisal already being completed there is a chance that they can charge you for that, the rule varies by State. If you are going with the same Bank, I would say it probably does not make sense to cancel your application, just explain that you would like to move your application and have your loan closing at the branch that is closer to you.

Jeremiah M. Wean
Lakewood Lending Group, LLC
http://www.lakewoodlenders.com
... more
0 votes 2 answers Share Flag
Mon Jun 29, 2009
Fred Griffin answered:
FIRST ANSWER

What is your house worth?

Is it worth the 280K that you owe?

Is it worth putting in the additional 250K?

Do you intend to live your life out there?

How is your Credit Score?

Do you have a lot of other Financial Obligations (Debts)?

You mention that your Job is insecure - is that common knowledge?
(for example, is the News Media
running stories about your company or industry or employer going out of business, or fixing to declare
bankruptcy, etc.).

In other words, if you used your $250K to pay down the existing Loan down to $30,000
would you be able to refinance the house if you wanted to get money back out?

(If you re-financed a $30,000 loan the payment would be peanuts).

What are you earning on that money now?

In better times, you would leverage or invest the $250K to make more money.
But times have changed; good investments are hard to find.

There are many who would advise you to put the entire $250K toward your existing Mortgage.

Then it is safely invested in your home.

With the continuing Economic Collapse, and now the Cap and Trade Nightmare looming on the horizon,
your American Paper Dollars may soon be worthless.

Tough Decision - Best wishes on it.

Fred
... more
0 votes 2 answers Share Flag
Sun Jun 21, 2009
Thomas McGiveron answered:
What type of land? Residential? Commercial?

How much cap do you have? Type of financing will you be looking for (tough to finance land - private money perhaps).

What are you looking to do with the land? ... more
0 votes 3 answers Share Flag
Fri May 15, 2009
Gail Gladstone answered:
I will be happy to make a recommendation of a dependable Realtor in your area. Contact me at Gail@GailGladstone.com and I will provide you with the information.
0 votes 2 answers Share Flag
Mon Feb 14, 2011
Vicky Chrisner answered:
i certainly agree that anytime someone does not show up for an appt, they better have a good reason.. like they are in the hospital or something. Short of that, it is unprofessional and rude. Having said that, I also realize everyone makes mistakes, so I am not sure if a single event would cause me to want to burn him at the st unake, but I would definately not be happy. Beyond that, I am confused why your agent needs to be present for the showing if the buyer has an agent? Maybe you requested assisted showings, but I don't suggest this (bear in mind I don't know your market, so I am speaking in general terms here). It reduces the availability for showings and frustrates all parties. You will miss potentially good buyers with this requirement.

It's a little unclear in your story how it came to be that you would have the contact information for the buyers agent that he didn't, so I can't venture an opinion on that. I know that there are times that an agent will call me while I am on the go, and I will do my best to help them; but I don't have the ability to write down who it is at the moment - like when I am driving or with another client or something - and I've forgotten who it was that contacted me... and if that agent has shown the property and my client might have his card, I would call my client to get the info again so I could follow up and keep the records that I like to maintain.

Just remember, you are a team. This is a tough market. While it sounds like you have at least one very valid concern about your agents performance, I am not sure you have an actual breach of contract. You may need to contact the broker of the office and discuss the situation = maybe the broker will reassign your listing.
... more
0 votes 6 answers Share Flag
Tue May 26, 2009
Everett Perry answered:
You can hire an agent to sell your co-op while you go into contract on your new place. Make sure you are pricing it realistically.
0 votes 4 answers Share Flag
Thu Jun 21, 2012
Scott Godzyk answered:
When someone lists their house for sale, the listing agent will say i charge $10,000 to sell your home. That is what the seller pays no matter if thier is a buyer broker or not. If the buyer has a buyer broker the listing agent will split their commission with the buyer broker giving them half or $5000 of the commission he collects for selling the house. The seller does not pay anything more.

If you are a buyer, in most cases you do not have to pay the buyer agent anything as they are getting paid at closing by the listing agent. In some cases a buyer agent can say i get $6000 to work with you, and if the listing agent is only offrin a $5000 fee the buyer would then pay $1000 out of the buyers pocket to make up the difference.

I hope this helps, if not just add some more details in the comment section
... more
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