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Bellmore : Real Estate Advice

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  • Home Buying5
  • Home Selling1
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Activity 11
Wed Feb 13, 2013
Anna M Brocco answered:
Check http://www.mlsli.com or consider working with an agent; check local print media for by owner rentals, always verify ownership before exchanging any money; word of mouth, etc.
0 votes 1 answer Share Flag
Tue Dec 18, 2012
Annette Lawrence answered:
Emily,
You have entered "the Wild, Wild, West of Real Estate" short sales, where there is an illusion of rules but anything can and does happen. As a buyer, you are the least significant player is the very complex, highly convoluted, logic lacking, opaque real estate transaction. ANYTHING CAN HAPPEN!
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One issue with SS is you can not be aware of the alternatives available to the organization holding the mortgage. Available to them are multiple income sources, you the buyer are just one. There may be an 'end-game' buyer already in place and all this process is about is optimizing the margin. We do not get the opportunity to peek behind the curtain.
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In a similar situation, in a Bank of America negotiated SS, they did adjust the 'negotiated price' to match the appraisal....HOWEVER they added a requirement for the buyer to bring $93,000 in cash to closing. YIKES....and my buyer agreed! Anything can happen. This was what the home was worth to him.
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Then the SELLER/HOMEONWER, realizing they would owe income tax on 600 thousand dollars attempted to pass that $100,000 tax bill onto the buyer as a condition for accepting the offer. (***!!!###) So, in reality, the acquisition cost of this home will be nearly $200,000 more that would be reflected in the "sold' price. Of course that resulted in 'no sale' for this buyer.
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Emily, anything can happen.
Do your homework. Determine what this house is worth to you. Then negotiate as best you can. Be aware, there is not a 'good faith' party on the other side. Don't fall in love with a short sale home. You could be left at the alter.

Best of success to you,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL
727.420.4041
http://FirstLookHomes.us
... more
0 votes 5 answers Share Flag
Wed Dec 12, 2012
Gail Gladstone answered:
Emily,

Anything is possible, but I would certainly continue looking at other properties. Some of the banks are totally unrealistic about current market values and the agents that are presenting the broker price opinions, are not always on the ball.

keep looking at other properties. Let us know if we can help...

gail@GladstoneGroupRealty.com

516-368-8828
... more
0 votes 3 answers Share Flag
Sat Jun 9, 2012
Scott Godzyk answered:
Ellen you may but if you want to sell some, it may have to be subdivided. You could either hire an agent who is well expereinced in this type of sales and subdivision or should hire a real estate attormey to complete the subdivision and get approvals from your town or city if needed. ... more
0 votes 4 answers Share Flag
Wed Mar 21, 2012
Weichert Realtors answered:
Tue Mar 20, 2012
Anna M Brocco answered:
You can check with the building's department, they should have one on file; or consider a new survey...
http://toh.li/building-department
0 votes 5 answers Share Flag
Fri Feb 18, 2011
Iraj Kashani answered:
My Name Is Iraj Kashani.
I am the broker for KashaniRealty.
I work as Real Estate consultant, and be happy to assist you with marketing your house in Bellmore.
Phone number to contact me: 516-773-7722
KashaniRealty@aol.com
... more
0 votes 4 answers Share Flag
Thu Apr 25, 2013
Ruth and Perry Mistry answered:
The process take time and patience. There is no guarantee that you will get it in the end.

Also, rates can go higher during the waiting process, also prices can go up.
You may be asked to pay Higher Market price say 3-6 months out.

Also, the seller may take out the appliances and fixtures before leaving and what recourse would you
have , against someone whose credit is ruined anyway.

Last but not least, say the seller chooses not to move out, well evictions cost time and money.

But the deals can be sweet when they close. Get yourself a good RE Lawyer or Agent who has done
a few.

Goodluck
Perry
... more
0 votes 18 answers Share Flag
Wed Apr 28, 2010
CamilleD answered:
Hi, Gerard,
I would say no. There are certain areas in Suffolk County that are
considered mobile home areas, you might consider going there.
Also, the taxes in Bellmore are very high, even for vacant land, so it
wouldn't make sense.
You can speak to the local town officials of Hempstead to voice your
opinion.

Camille Dandola
... more
0 votes 3 answers Share Flag
Sat Jun 6, 2009
Lori Rossi answered:
Is this a newly constructed home? If so, it would be the builder's responsibility to obtain a c/o before title transfers. I'm curious how this came up "after closing"-did you just get a letter from the town stating that is has to torn down and rebuilt? Were there previous violations? Did you use a buyer agent for the transaction? Is the square footage accurate on the tax assessors site? It may be worth your while to hire an attorney before tearing anything down. Good luck! ... more
0 votes 3 answers Share Flag
Sun Nov 4, 2007
Gail Gladstone answered:
According to "My Nassau Properties", the Adjusted Market Values by which they assess school taxes, is showing $419,600 for 07-08 and $444,400 for 08-09. Please understand, this has NOTHING to do with market value some would be willing to pay for this house. Assessed value is always the highest appraisal so the town can charge more tax. No relation with reality. ... more
0 votes 1 answer Share Flag
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