If you are looking to purchase a home in South Florida, perhaps I can assist you. I am a native of the region and know the market very well. I would be happy to help you find a home here in Sunny
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I agree with Don. Your buying location. Pick a town you like and look for the best deal you can make. Taxes are high all over Long Island.
If you find a home you like but the taxes are too high ask the agent to find out when the last time the owner grieved his taxes. With prices having declined so much you may be able to have your assessment reduced thereby lowering the taxes. Do your due diligence with the help of your agent. You may have a diamond in the rough. Also you should consider a home that needs work. You will get a much better price and have the opportunity to add value over time.... more
I'm sorry I missed this question! I have the Family Opportunity Mortgage available for homes located in Washingotn. I'm not licensed for your state. This is a special Fannie Mae/Freddie Mac program. The home would be treated as a second home and not as an investment if you qualify. I closed a Family Opportunity Mortgage last month so they're *still* around (knock on wood).... more
Discerning interior design and magnificent location have combined to produce a Ranch Style Villa that is so much more than simply a sum of its parts. Combined, the result is an impressive villa that maximizes
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As to how much it will add in value--depends, a home is worth what someone is willing to pay for it, and much will also depend on market conditions when it's time to sell--don';t be too concerned on resale, buy if it means more enjoyment to you while you are a resident in the condo.... more
As for your daughter's closing costs as the seller--your daughter's attorney can give her a better idea of her closing costs with regards to her cash buyer--she will have attorney fees, broker fees, processing fees, transfer taxes if applicable, any existing mortgage, co-op fees-they vary by complex, etc.
As for potential buyer wanting closing costs--what is her agent suggesting and or her attorney advising--closing costs can be negotiated, however do keep in mind that, when it comes to co-ops--boards do have their own financial requirements, and just because the buyer is a cash buyer does not necessarily mean he/she will qualify all financial Board requirements--requirements do vary from complex to complex, therefore make sure the person qualifies regardless, and if your daughter is willing to cover closing costs negotiate wisely--her agent and or attorney can best advise.... more
Allen, theoretically, a loan officer should know that new construction closing costs have additional fees other than the standard ones, and should prepare a good faith estimate in advance with those fees on it. However, seeing as the contract has not been signed yet, Hack may not have applied for a mortgage yet. In addition, many banks and loan officers do not provide an upfront GFE. There is nothing wrong with that, the law only requires them to provide a GFE within 3 days of taking a mortgage application. Many GFE's, especially when applying to a bank directly, are prepared by a loan opener who would only provide the standard fees and would not include those that apply only to new construction.... more
If you are working with a Realtor, he/she should be able to find out the ratio and if not they must have a management company and they will be able to tell you. As far as the purchase the decision is totally up to you, and I agree with Julie as far as the mortgage issues.
Anna
917-576-5376
abrocco@laffey.com... more