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New York : Real Estate Advice

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  • Local Info426
  • Home Buying1K
  • Home Selling217
  • Market Conditions93

Activity 5,407
Sat Feb 25, 2017
Sandrahawkins100 asked:
Fri Feb 24, 2017
Kathy Burgreen answered:
Is this for a co-op? That would explain the 25% down payment and why the asking price is $450K. I'm sorry the appraisal is low and unfortunately in New York City, sellers have the advantage that they can get more buyers submitting offers than outside NYC.

If this home was located in a lower income neighborhood of Queens, I would advise negotiating with the seller and seeing if you can lower your offer price. However if this home is located in Astoria, Bayside or the better parts of Queens, your luck at negotiating for a lower offer price is slim - none. You can try and cross your fingers but don't expect much. As for paying another appraiser - it's up to you if you want to spend the extra money but it's 50-50 if a 2nd appraiser will come in at a higher price. It may be worth it if it means paying less than $45K.

Another option is to withdraw your offer and find a cheaper co-op or home. I know in the better neighborhoods of Queens, buyers will submit high offers. You need to know that Brooklyn is too expensive now and Manhattan is out of reach so the borough to target buyers is Queens. When that gets too expensive like Brooklyn, they will head for the Bronx or Long Island.
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Fri Feb 24, 2017
Kathy Burgreen answered:
The 90 day holdover period is to protect the brokerage in case a buyer who saw your home during the contract period and now wants to submit an offer after your contract ended. The issue is the brokerage keeps a list of buyers who visited your home and if a buyer submits an offer, the brokerage wants to get paid. Once the 90 day period is over and if a buyer submits an offer, you do not owe the brokerage a penny.

Try to wait for the 90 day period to end, then sell by owner.
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Fri Feb 24, 2017
Bernard G. answered:
Hello,

I have emailed you regarding this concern.

Regards,

Bernard
Consumer Care Advocate
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Fri Feb 24, 2017
Graham Maitland asked:
Thu Feb 23, 2017
Davidharrisjrtrains asked:
Hi. I have been renting an apartment from an HDFC in NYC for 5 years. I am renting from the board (I think) and am not sub letting from an individual shareholder. I have not gotten a new…
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Wed Feb 22, 2017
Ldyscorp3 answered:
my rent is going up some people rent have went up as must as 75.00 more dollars a month I like the location and the neighbor hood. just want to see ow much they will go up on rent
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Wed Feb 22, 2017
asked:
I'm in need of a Church in Upper Manhattan between $5-$15M and would like to know the best means of finding one.
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Tue Feb 21, 2017
UpNest answered:
It depends on who you are dealing with. Did your realtor look into the seller and their history. A good realtor can ensure the 15% down is not risky. I would try www.UpNest.com. You can compare realtor fees and ask brokers whether they have experienced this type of situation for free. You should consult with someone who has dealt with this before. ... more
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Tue Feb 21, 2017
Max asked:
I am looking for an apartment with 2 beds in the price range of $3,000 to $4,000 preferably in Midtown to Soho area. Please let me know if you can help.
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Tue Feb 21, 2017
Alo.bolton answered:
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Mon Feb 20, 2017
Rayanne Borges asked:
--
This question was asked from this property: https://www.trulia.com/property/-
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Sat Feb 18, 2017
Gregg Pomeroy answered:
Hello, I'm actually a banker and broker.

So when you put an application in with us we actually can go through our list of investors and select whomever we want to invest in your loan at the lowest rates available.

Since we are a mortgage bank and are not limited to one investor we have access to just about every program available.

This gives you and us a big advantage.

The best part is even though we select who invests in your mortgage we are the ones who actually underwrite and fund the loan.

We can underwrite in house within 24-48 hours. (That's fast)

I focus most of my attention on lower NY and can lend nationwide.

I would love to help you. If you have any questions or need help with this you are welcome to contact me. I'm available almost 24/7.
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