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Upper Clinton Hill : Real Estate Advice

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  • Local Info3
  • Home Buying4
  • Home Selling0
  • Market Conditions0

Activity 6
Tue Jul 31, 2012
Shellie Alicia Carter answered:
If you are considering buying or renting in Newark New Jersey you have multiple options for reaching New York City. Just as a place to focus...You can take the Broad Street Train, or Penn Station Train to Penn Station Manhattan.

Penn Station, Newark also offers bus service

New Jersey Transit, found at www.njtransit.com offers bus routes that go into the city on a regular schedule as well.

Where in the city you live will effect what route will be best for you.
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Sat Mar 19, 2011
William Polack answered:
The first question is are you going to farm the land? The second question is do you intend to move to this country and farm the land? It's become so difficult for foregin nationals to get loans with less than 40% down. You may have to check with a credit union to see if they do land deals and to foreign nationals. This may also be considered a commercial loan depending on your use of the property. This may or may not make it easier to buy. My apologies that I'm not well versed on farm land. No one else answered and usually when one person answers, several others do. Good luck! ... more
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Thu Aug 5, 2010
Frank Ruzicka answered:
Dear Home Buyer,

If you are financing the home with 203K financing there is no need for a $13,000 deposit. Is the contractor requiring this money? The 203K program is great but not every contractor is willing to work with the payment schedule.

You may trust your contractor but I would never give $13,000 upfront to anyone. If it is needed for materials then I suggest you meet with the material supplier and pay the bill directly. The invoice should specifically reference delivery to the property address and you will have control over the use of the funds. The materials should not be custom ordered items and should not be delivered until you actually own the property. You are correct, if the bank backs out, you are out the money without any recourse. There are too many great deals available to put yourself at that kind of risk.
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Tue Dec 10, 2013
Sean Shallis answered:
The answer is Yes... you 'll most likely need to use a portfolio lender as there conditiion to making the loan will be less restrictive. There are lenders that specialize in these type of loans...This type of loan is going to require a substaintial down payment...

In my experience as a professional real estate broker/ sales associate in the State of New Jersey for more than a decade we've help numerous foreigners buy homes in the USA. One of the biggest hurdles is most lenders will require a large down payment..Specifically how much depends on the lender.. I wouldn;t be surprised to here them asking for as much as 30-40% of the purchase price.

If you need further assistance please don't hesitate to...Call Me Immediately.. 201-427-1032 or email me at sean@theshallisgroup.com. We have relationships with the leading industry experts throughout the country.

Good Luck,


Sean T. Shallis
Broker/Sales Associate
Senior Real Estate Strategist

Weichert Realtors and The Shallis Group
1 Newark St, Hoboken, N.J. 07030
Office: 201-656-8488

Direct: 201-427-1032
Cell: 201-988-1393
Fax: 201-427-1022
sean@theshallisgroup.com
www.theshallisgroup.com


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Sun Sep 13, 2009
Orin "Jay" Mingo answered:
Hello Madeline as REALTORS we are not allowed to disclose certain aspects of streets and neighborhood, but if you woud like me to send you comps of sold properties on that street and neighborhood facts please email me at cjhomes4u@yahoo.com. ... more
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Sun May 31, 2009
Orin "Jay" Mingo answered:
Ok Laura before you get into this venture make sure you get an understanding of how the 203 k works I will give you a quick break down 1st you have to make sure the value of the property wiil be there when completed 2nd you will have contribute a little more cash than a regular F.H.A 3rd they are 2 kinds of 203k it is other procedures, you can give me a call @973-477-9199 I will be very happy to go over the whole process and also invite you to a class that offer up to $75,000 Government to your purchase or if you prefer email me @cjhomes4u@yahoo.com and can can foward you a lot of more info. ... more
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