Sellers in New York generally choose to pay the $500 closing credit to the buyer rather than completing the NYS Property Condition Disclosure Statement. Sellers feel that the disclosure statement may discourage potential buyers instead of fueling interest from potential buyers. As a buyer, the $500 credit helps to pay Read more
It is possible when you come across a house that is in contract and still make a bid on it because some sellers may consider having back up options if the original buyer has many contingencies on the contract which prevents them from completing the deal. For example, the buyer Read more
Making a mortgage payment is similar to paying yourself because the money goes into building equity of your real estate property. After paying off the mortgage, the real estate property belongs to you 100%. Buying a home is a long term play. Common mortgages are 15 years to 30 years Read more
A buyer rebate does not change nor diminish a real estate brokerage’s services. One of the many duties that brokers perform is to schedule and accompany buyers to see the homes that are listed for sale. After seeing a home together, it helps to compare notes between buyers and buyer Read more
The rebate agent is being paid the same way as any real estate agent in a real estate transaction. The seller typically puts up 5-6 percent of the sales price to be split between the listing agent and the buyers agent (rebate agent). Depending on the commission split percentage, the Read more
After graduating from college or after moving to a new city, few people ever think about home ownership when they are single. Instead it is more common to spend the disposable income on eating out, drinks, and rent. Regardless of whether you may be a couple or single, home ownership Read more
Besides the monthly mortgage payments that home owners are responsible for, there are additional costs to home ownership: Condos and co-ops have a monthly common charge to cover building maintenance, staff salaries, and reserve funds. With single family home ownership, it helps to maintain an emergency fund to pay for Read more
When like minded individuals pool their resources together towards buying a Flushing home, the joys and responsibilities of home ownership are shared. In theory it is very easy to split a property into 50/50 ownership to make home ownership a reality. However, before splitting such a large purchase as a Read more
Typically it is best that we accompany you to a new construction listing and register you as a client in the sales office. A buyer rebate may be available if the new construction’s builder has incentive packages for buyers and buyer agents. If your agent is not with you on Read more
Coming up with 20% for a down payment helps you avoid having to buy private mortgage insurance (PMI). For down payments less than 20% of the purchase price, the mortgage lender will require you to buy PMI. Why is the 20% important? It is a measure to indicate that you Read more