These co-op buyer’s closing cost estimates provide an idea of how much additional funds are needed at the actual closing. The buyer’s attorney will provide a worksheet with numbers closer to the actual cost prior to the closing of the co-op unit. Learn how a buyer rebate can help offset Read more
One can wait for a real estate market reversal if you are not in a rush. However, trying to time the real estate market is difficult for anyone from amateurs to professionals. How many home buyers got caught up in the real estate investing frenzy before the 2008 financial crisis? 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
Your credit score is the culmination of years of managing your credit cards, spending history, and different accounts. A high credit score is usually assigned to someone who is always on top of their credit card balances. Once you start missing monthly payments, your credit score will take a hit. Read more
As an incentive for buying newly constructed homes, developers are likely to offer buyers a mortgage rate buydown to finish the deal. This action is similar to paying off a point upfront. However, it is the developer who is subsidizing part of the loan to lower the buyer’s monthly payments, Read more
If you are already working with a real estate attorney, then a closing agent may not be necessary as your real estate attorney can also be the acting closing agent with a checklist of required task items to cross off before the closing. Otherwise, get referrals from real estate agents, Read more
BUYER’S BROKER IS PAID BY COMMISSIONS FEE INDICATED ON LISTING AGREEMENT Technically, the buyer does not pay the buyer broker. The buyer broker is paid by the commission split that was entered into the listing agreement by the seller. If the seller’s agreement pays a commission of 5-6% for selling Read more
Buying a home is large purchase. Many of the expenses incurred with purchasing a home may be deductible. It is best to let your tax accountant know that you purchased a house and that you want to see what is deductible for the current year.
January 25th – 11 AM @ Flushing Queens Chinatown2020 Chinese New Year Parade in NYC’s largest Chinatown is not to be missed with yearly attendees of about 10,000 people. Starting from Union Street and 37th Avenue going south, and ending on Main Street going north with a parade route spanning Read more
Technology has enabled brokers to complete market analysis on a property in a few clicks. What used to take hours of work looking through city records manually is now done in a few minutes through websites such as StreetEasy. Comparable reports contain sales data for: Active Listings In-contract listings Unavailable Read more