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Home Selling in Queens : Real Estate Advice

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  • Home Buying589
  • Home Selling54
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Activity 71
Wed Apr 10, 2013
Ron Thomas answered:
The wording is; the Seller has to disclose any material fact which impacts the value of the house.
If the Seller lived in the house, it would be taken for granted that they knew or whitnessed almost everything.
If it came out later, that there was an Inspection, that they had access to, it would be problematic.
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Tue Jul 16, 2013
Rhona Magelowitz answered:
OK , you found the person who wants to buy the property, but does not have down payment secured or in place yet, and therefore cannot make the purchase. Giving that person the option to enter into a lease prior to making the purchase is a benefit.

Depending on how the contract for the lease option is drawn up, you can indicate that the agreed upon selling price will be discussed later. If you think the market is going up, this is a benefit.

If the seller needs to postpone closing on the unit for tax or other reasons, a lease option is a benefit.

Rhona Magelowitz, Broker, CPM, Title Closer, Notary
Rhona Realty
Forest Hiils, Queens, NY 11375
347 262 2421
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0 votes 6 answers Share Flag
Sun Feb 9, 2014
Ruth Chalco answered:
Mon Feb 23, 2015
Ron Thomas answered:
Not sure of the local requirements; what have seen is that you should DISCLOSE anything which will materially affect the value of the property, that you have personal knowledge of. (That is almost verbatim)
Talk to your Realtor about this, and the wording you will use.
I would talk to someone other than "they".
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Fri Jan 4, 2013
John Pinard answered:
What was the price of the coop, and the down payment amount? What's the flip tax rate?
0 votes 4 answers Share Flag
Tue Apr 16, 2013
Anna M Brocco answered:
Why not take the time to contact and interview in person, a few agents from different realty companies, then choose the one you like best; or ask people you may know for referrals....
0 votes 10 answers Share Flag
Wed Oct 17, 2012
David Callaghan answered:
Without seeing your unit it's hard to say what your unit would sell for, but here is what has sold in the past year:

- Gothic Tenats had a unit that sold for $182,000
- Coronet Hall had a unit that sold for $160,000

Keller Willams Realty sold 473 homes last year worth over $182 million dollars. We know how to help home owners get the most value.

Good Luck

David Callaghan
Keller Williams Realty
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0 votes 10 answers Share Flag
Wed Sep 26, 2012
David Callaghan answered:

Here are some questions you should ask the agents you interview:
- Are they full-time or part-time?
- Which websites will they place your home on?
- Which print magazines will they market your home in?
- How successful have they & their office been?

Keller Williams Realty sold 473 homes and co-ops last year worth over $182 million dollars in Queens last year. We know how to sell homes.

Good Luck in your sale.

David Callaghan
Keller Williams Realty
32-55 Francis Lewis Blvd
Flushing, NY 11358
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0 votes 4 answers Share Flag
Mon Jul 28, 2014
Anu Dutta answered:
You need to contact any local agent, use any referrals you might have. You need an agent who will communicate with you and explain his/her marketing plan. Interview atleast 3-4 agents and pick the best one you feel will get the job done. ... more
0 votes 45 answers Share Flag
Mon Sep 24, 2012
Sally Grenier answered:
You'll need to hire a Realtor as a Listing Agent to get it into your local MLS, and consequently on this website.
0 votes 21 answers Share Flag
Sun Mar 17, 2013
Anna M Brocco answered:
Commissions are always negotiable between you and your agent, there are no set standards; therefore choose your agent with care and not by commission alone...
0 votes 30 answers Share Flag
Tue Aug 28, 2012
Anna M Brocco answered:
Consider inviting a few agents from different realty companies and ask for a cma, comparative market analysis; review the data, ask opinions and go from there. Average time does vary, and much will depend on exact location, pricing, condition, marketing, etc. Also check If you need additional assistance feel free to contact me directly. ... more
0 votes 8 answers Share Flag
Fri Mar 30, 2012
Tim Moore answered:
Well, it will depend if it is, or was, your primary residence for 2 of the past 5 years or not and if married or single. It would be better to ask your tax adviser to get a better answer. You will need to know your property basis too. ... more
0 votes 1 answer Share Flag
Thu Jun 21, 2012
Antolin Du Bois, CFP® answered:
Depends on how long you held it, how long you depreciated it, additions to basis, stuff like that. Then, you will get a credit against the selling state taxes paid, towards the domicile state taxes owed. Since you will be selling in a state with no income tax, you will owe the full freight on the New York amount, probably around 5-6%.

You can also thank Mr. Obama for raising the long term federal rate to 20%, so in essence you will owe 20% Federal + 5-6% local on the appreciated amount+ 25% Federal Recapture on the depreciated amount.

Of course, if you inherited this property from a person, and you are selling it almost immediately, you might owe nothing in taxes since depreciation has not begun, appreciation has not happened, and the basis is stepped up.

Antolin Du Bois, CFP®
President, RichFaith Inc.
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0 votes 1 answer Share Flag
Thu Jun 21, 2012
Elizabeth Caruso answered:
You must always declutter and clean. The buyer should easily be able to imagine themselves living there with their family. I you have a lot of photos up, best to put most of them away for now. ... more
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Fri Feb 24, 2012
Rich Homer answered:
Engage a local Realtor, always the best first step.
0 votes 1 answer Share Flag
Mon Jul 17, 2017
Joe Ortiz answered:
Thu Jan 5, 2012
Anna M Brocco answered:
Your attorney can best answer your question; generally no, was the recovery of attorney fees agreed upon in the contract...
0 votes 7 answers Share Flag
Fri Mar 2, 2012
Scott Godzyk answered:
You can always contact the NY Real Estate commission, that is awful that anyone would do that. I have heard of agents asking for actual costs such as when they did advertise but just for a release??? that is poor business practices. The real estate commission has juristiction. Good luck with working things out ... more
0 votes 8 answers Share Flag
Wed Sep 14, 2011
Therese L Korahais answered:
Hi Hal, Which Linden Tower? There have been many sales in the development ranginging from 107K-150K for 1 bedroom and $150K-258K selling price for 2 bedrooms...Depending on the condition/updates, the location which floor- and what the flip tax- will determine what asking and selling price will be. I have a deal in Linden #1 for 1 bedroom $125K, I've sold a 2 bedroom Linden #6. Market is hot for Coops and Condos...give me call for your specifics-an analysis is free. Terry K 718-614-3167 or email me ... more
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