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Home Buying in Brooklyn : Real Estate Advice

  • All323
  • Local Info56
  • Home Buying117
  • Home Selling12
  • Market Conditions13

Activity 75
Mon Mar 18, 2013
Tony Grech answered:
Mortgage insurance is an insurance policy that compensates the lender if the borrower defaults on the loan. It is normally required by lenders on loans with less than a 20% down payment. ... more
0 votes 2 answers Share Flag
Sat Feb 23, 2013
Travis Jackson answered:
I would get pre qualified soon and get in touch with a local Real Estate expert. If you would like I could put you in contact with a Realtor in the area and they can guild you through the home buying experience. Send your info and what you are looking for in a home to

Travis Jackson
Century 21 M & M Associates
DRE# 01879566
... more
0 votes 6 answers Share Flag
Fri Jan 25, 2013
Wilson Smith answered:
Sure, you can offer anything that you want. The bank has an idea of what they want, and they may not consider your offer. The nice thing about a bank is that you don't need to worry about hurting their feelings. However, if the competition is stiff, you may be outbid by another party.

If the bank is asking more than what a property is worth, you might consider lowering your offer if an offer is rejected and several weeks pass and the property is still on the market.
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Mon Mar 4, 2013
formanet answered:
A partition sale or lawsuit is a pretty complicated matter. I think you should seek legal representation if you haven't done so already.
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Sat Apr 14, 2012
Marie Souza Team answered:
Are you sure it's the agent & not because it's a short sale? We find that many buyers are unfamiliar with the short sale process & want to know answers right away, which doesn't happen with short sales. You can wait weeks/months to get an answer so patience is key. ... more
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Wed Sep 26, 2012
Sally Grenier answered:
Yes, you can buy a property with a conventional loan with as little as 5% or 10% down. Talk to a local lender or mortgage broker and they can go through all of your options. Good luck!
0 votes 6 answers Share Flag
Sat May 29, 2010
tom roberts answered:
Jan,check out a good Realtor,and go look at some prob,after you speak w/a lender then go.Good huntin

TJ ... more
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Fri Jul 10, 2009
Grace Hanamoto answered:
Hello Homebuyer:

Developer and builder contrcts often have different terms than we normally see in standard State Board approved purchase agreements, so depending on how your sales contract is worded, you may or may not have an easy time trying to extricate yourself from the sale. Most of the time, an inspection issue can be ground for terminating the contract, but only a qualified real estate or contract attorney will be able to advise you properly on your options in this particular transaction.

Take a few minutes to find a qualified attorney (or speak with your Realtor to get the names of attorneys in your area) before deciding what you might want to do next.

Good luck!!

Grace Morioka, SRES, e-Pro
Area Pro Realty
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Mon Jun 22, 2009
tom roberts answered:
needansIm not clear what you mean,apt building bought and sell as condos or

0 votes 1 answer Share Flag
Tue Feb 3, 2009
Luke Allison answered:
Sure thing. Probably the best financing option would be an FHA loan. Your friends can either occupy the property or be non-occupant coborrowers.

If you have any questions, please let me know.

Luke Allison
Flagstar Bank

Apply Online:
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Mon Jan 19, 2009
Lauren Falco answered:
There is an open house tomorrow at noon. The amount down will be determined by your lender.
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Tue Jan 13, 2009
Dana Schuster answered:
i suggest you contact a local agent who can guide you through this process. your agent can arrange a showing and provide comps which will help you determine whether the property is over priced or not. An inspection can't be scheduled until after you have an accepted offer--otherwise you would be trespassing. After you have an accepted contract--your lending institution will order the appraisal. ... more
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Fri Jan 2, 2009
Luke Allison answered:
Considering the new FHA loan limits in New York and the very reasonable 3.5% down payment requirement, your down payment amount seems very reasonable. As long as your income and credit supported the approval of the loan amount you want to borrow, then you should be okay to move forward. You will probably need a good % of seller concessions for closing costs though as those can be quite high in New York.

If you have any questions about qualifying for a new mortgage, please feel free to call me.

Luke Allison
Flagstar Bank
... more
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Mon Mar 16, 2009
Susan Chen answered:
Mon Dec 8, 2008
Marty answered:
I can help you find an agent.

I work with a federally chartered credit union, and I would love to help with your mortgage needs. Email me, and let's discuss!


I am On Line now!
... more
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Fri Dec 5, 2008
Lori Rossi answered:
What is your question? Are you searching for a buyer agent to help in your son's transaction? If so, I can refer an agent who specializes in the brooklyn area. We have a large referral network through my company and have have a local professional contact you asap. You can contact me through my profile. ... more
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Fri Dec 5, 2008
Michael Walker answered:
You may not be able to find out online. It depends on the town tax office ... if they are online ... you can get it.

Probably the best (and easiest) is to call the tax office in the town of your prospective house. Ask for the total true taxes both town and county as well as school and they'll be able to get those for you.

If this is going to be your promary residence ... you may qualify for the STAR rebate and you can ask them that amount at the same time.

Good luck!

... more
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Fri Nov 28, 2008
Bill Eckler answered:

You generated this question because you suspect you should use a different lawyer......and we would agree. Doing so will keep it cleaner and remove any doubt later that your interests were not represented best.

There are plenty of attorneys out there, it's a matter of making the effort to identify the right one.

Good luck,

The "Eckler Team"
... more
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