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New York : Real Estate Advice

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Activity 5,425
Tue Mar 28, 2017
Phyllis Ignozzi answered:
I understand I can hold a Florida real estate license and a New Jersey Real Estate License. Can I work in Florida six (6) months of the year and in New Jersey six (6) months of the year? ... more
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Tue Mar 28, 2017
Kathy Burgreen answered:
Yes BUT the most important document you need to analyze before closing is the co-op building's financial statements. Make sure you or your lender / attorney review this. You need to look for the following items:

1. Does the co-op have cash reserves? In case of emergencies, the co-op needs cash reserves to pay for contractors so they don't have to increase the maintenance fee.

2. Has there been frequent maintenance increases within the past few years? Why? Did the co-op pay for major projects?

3. Are there any lawsuits pending? How long do they expect before it's resolved? Will lawsuits affect maintenance increases? Yes, the shareholders can pay for this.

4. Any future projects being planned? What are they? Will the co-op increase maintenance fees to pay for it?

5. If you talk to the Super, ask how long he has been working there. Ask if there are Porters working in the building. Full time? Part time?

6. If you're in the building, go to the laundry room and start a conversation with residents. Make sure they are residents - not nurse's aides taking care of elderly / disabled people. Also make sure they are shareholders - not tenants renting an apartment. Ask the residents the following: how long have they lived there; have they attended a Board meeting and what was it like; do they have a newsletter that they can email you; how is the personnel working out - any complaints?; How is the co-op Board. Do they issue a newsletter to residents.

Even though you can talk to the Super, the issue is the Super may have orders not to talk to you and can refuse to answer your questions. The reason is the co-op Board is the employer and dictates the Super's job responsibilities. If the Super talks to you, that may be a violation of their policy and may get the Super in trouble.
... more
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Tue Mar 28, 2017
Amycaitlin42 asked:
Mon Mar 27, 2017
Kate N Lifanda asked:
Mon Mar 27, 2017
Amycaitlin42 asked:
Sat Mar 25, 2017
Kathy Burgreen answered:
Income does not always mean employment income. Lenders consider income from pensions, Social Security, annuities and investments. Therefore your pension IS income. You need to contact a lender and have them pull your credit. You should be fine. ... more
0 votes 2 answers Share Flag
Sat Mar 25, 2017
Kathy Burgreen answered:
As a former realtor, prices for 2 bedroom rental apartments in the Bronx start at $2,000. and go up. In Manhattan, prices start at $4,000. In Queens and Brooklyn, prices start at $3,000.

If your income is $120,000. you need to cut your expenses and increase the amount for rent. Work out a budget that you can stick with and one that you can afford a 2 bedroom for $2,000.+
... more
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Fri Mar 24, 2017
Gregg Pomeroy answered:
Hello, I'm a mortgage professional.

There is a bank statement and asset depletion program, so it is possible to qualify for a mortgage using your assets as income.

I can explain more.

If you have any other questions or would like help with this you are welcome to get in touch with me
... more
0 votes 2 answers Share Flag
Fri Mar 24, 2017
Kathy Burgreen answered:
Technically, Yes. Beware, you have 2 obstacles:
1. The co-op Board may object & tell you "No."
2. Buyers in NYC refuse to buy a co-op that they cannot move into immediately. Buyers will not accept a rent back. ... more
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Tue Mar 21, 2017
Wendy Gu answered:
I've had a good experience with the team here. Was staffed on a seller listing within the first two weeks of joining. One requirement to be mindful of, you must copy the senior broker on all emails for house leads. Makes sense I suppose since it is their client. ... more
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Tue Mar 21, 2017
Amycaitlin42 asked:
Time is the precious asset for every business
0 votes 0 Answers Share Flag
Sat Mar 18, 2017
Altratalents asked:
Sat Mar 18, 2017
Atsalach asked:
As a self-employed, I received 1099 for $103,000 but after applying deductions (car, gas, tolls etc) the 1040 show my adjusted gross income as $65,000.
What income will be considered when…
0 votes 0 Answers Share Flag
Fri Mar 17, 2017
Michael Hunt Jr answered:
An Accepted & Signed Offer Is A Binding Contract. ... Under established Massachusetts case law, a signed standard form offer to purchase is a binding and enforceable contract to sell real estate even if the offer is subject to the signing of a more comprehensive purchase and sale agreement.Sep 8, 2009
Source: GOOGLE.COM
... more
0 votes 14 answers Share Flag
Wed Mar 15, 2017
Hilary answered:
Forget it! Its a cultural wastelnd! Stay in NYC Raising ur kids there will make them into more diversified nteresting enlightened ppl. I moved to White Plains yrs ago and I hate it I feel like an alien! Nothing but clueless yuppies I'm trapped here. Too expensive to move back to NYC . ... more
0 votes 20 answers Share Flag
Wed Mar 15, 2017
Amanda smith asked:
I am currently looking for a 2 bedroom apartment that will be willing to accept cityfeps voucher for $1515. The apartment would be for 2 adults and 3 little boys ages 7,5 and 2 months old.…
0 votes 0 Answers Share Flag
Tue Mar 14, 2017
Diana Perez answered:
Its going into foreclosure. Owner defaulted on mortgage and owe around 4,746,905
0 votes 1 answer Share Flag
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