Forum: Real Estate
October 29, 2009
First Time Seller
Hi,
I am considering selling my apartment in downtown BKLYN but am very confused about hiring a broker.
The first question that comes into mind is what is the average fee those guys charge? Is there a range? Can you negotiate?
Thanks!
October 28, 2009
Space Rental for Baby Shower
Need location ideas in the Northern Brooklyn area to rent for a baby shower in a couple of months. Not a bar or dark looking club. Something of nice size, natural ambiance,with lots of natural light. Ideal place would be a gallery or brownstone or mini mansion. Oh, not too costly. Any ideas?
October 26, 2009
photographers FSBO
I want to sell my one bedroom FSBO-- can anyone recommend a photographer who could take photos of my apt? And what is the estimated price?
Thanks!
October 23, 2009
Help/Advice for a Beginner
Ok, I'm a noob on this site, and to brooklyn real estate. I've been living and working in NYC since '98. I owned a co-op in Bay Ridge from '01 to '05, and I've been renting a 1 bdrm in battery park city since then. I've recently decided to buy a brownstone, to live in one floor, and rent the rest out. I'm looking primarily at Carrol Gardens, Cobble Hill and Boerum Hill. I'm just getting started, using a Corcoran real estate agent.
I would love to get advice of any and all kinds. Suggestions re web links, articles, real estate agents, types of properties, usual problems encountered, etc., etc., would all be greatly appreciated.
Thanks!
October 22, 2009
Williamsburn Union Triangle
i'm looking into buying a new construction condo as prices are a lot of palatable now than they were 2-3 years ago here in williamsburg.
does anyone have any comments on new condos coming up in the union triangle area (2nd stop on the L)? specifically there is a building opening soon.. 1 Powers St. or 380 Union Ave..
i feel that due to market conditions, while i am a bit scared about the outlook, right now is a time that developers and sellers may be willing to negotiate. thanks!
October 19, 2009
the iriquois - 620 10th st & 8th
We are looking at the condos in the new development at 620 10th st that Betancourt is representing. The prices have just come down but they are still very pricey. It seems like they've done a nice job but it's just hard to know what something like this is worth in this market. are they way overpriced? http://www.betancourtrealestate.com/index.cfm?page=developments&state=viewBuilding&id=911
October 18, 2009
House on 2nd St (5th & 6th Ave)
Anyone checked out the house for sale on 2nd Street between 5th & 6th Ave being sold by Century 21? I missed the open house and can't find anything online. I'm assuming it's in rough shape but would love to find our more since the location is attractive. Thanks.
October 16, 2009
New construction condo buys?
I've been looking for the better part of a year to buy my first place. I've mainly been looking at studios since that's what's available in my price range. I've noticed some new construction condos lowering into my price range (and no I'm not talking about anything in DoBro). Has anyone here bought into a new construction build? Do they have any advice about the process? I've seen places sit on the market for a while and I'm wondering how much lower I could get from asking. Any advice would be great.
October 14, 2009
Credit Report
I need to do a credit report and a background check on a potential tenant. My building requires it as part of the condo rental package.
Anybody have a reliable source?
Thank you.
October 13, 2009
Multiple Bidders for FSBO
We are selling our 2Br co-op in Park Slope FSBO and just had our first Open House 2 days ago. Yesterday we received our first offer and judging from the overall response, are expecting to receive more in the next few days. Any advice on how to deal with multiple bidders if some of them have contingencies (e.g. an engineering report)?
Offer Advice for 1st Timer
I'm about to make an offer on a condo and I'm not entirely sure how much to, er, offer. I know the current owners paid 430k four years ago and are asking 505k. They have done no improvements to the place - the kitchen needs a complete overhaul including appliances, and the bathroom at the least needs a new sink. I feel like I should be offering 450 and expecting 475 in the end. Does that seem right? I kind of feel like it should be less though since I have a friend who just bought in the same hood/same price and his place came with the renovations already done. What do you guys think? Please keep in mind that I'm a total noob at all this. Thanks for any advice you may have!
October 12, 2009
Lofts on Lex
I am seriously considering making an offer on one of the lofts on 95 lexington. Does anyone live in them. I am a little worried about the area - is it safe to walk around at night? Any other info anyone can supply? Thanks!
October 9, 2009
FSBO Ground Rules
I want to sell my apt FSBO. Brokers have asked if I will be allowing (buyers) brokers. I am undecided. One said I would not have to give her the full 6%!! I was under the impression that a buyer's broker - if we allowed them - would make 3% max. Is there a rule? could we open it to brokers at 2% commission? anything we need to do to make it official. Any advice helpful.
October 8, 2009
Is This Even Legal?
I'm looking at a condo purchase (I know, I know. I do a lot of looking.) and trying to wrap my head around the legality and limits of developer offers like "No maintenance for a year and a half."
Which basically amounts to sale price inflation, since if the maintenance is $500/mo that is $6000 more I'm willing to pay for the place.
At what point does the mortgage lender or the city agency where you file the sale documents step in and say that it is dishonest. Is there a number value to that? Like any concession over $10k the bank wants to know about?
October 6, 2009
ISO Tenancy in Common partner
Hello,
Me, my wife and 7yr old son are looking for a TIC partner. We've found a house we like (in PLG) but it will need some work to divide it into two more or less equitable units, but it's well priced. We're open to other buildings as well, should this one not happen. The first step for us is to find the right partner.
To give you an idea of what we're looking at: building should be in the 600-700k range, could need work, but should pretty much be habitable from the start (even though that might mean camping out in your own home a little). Our very own low budget, diy, live-while-you-reno adventure.
Not for all I'm sure, but let me know if you're interested. We're very open to meet for initial talks, if we see eye to eye, great, if not, no worries. In case we do want to go ahead, all would be agreed upon and documented with aid of a lawyer.
Many thanks,
Korneel.
373 92nd Street
THE WORST BUILDING AND LANDLORD I VE EVER HAD
October 5, 2009
Bizarre Foreclosure Scenario
Hello all,
A friend of a family's acquaintance is under water in his mortgage (sunset park). His original mortgage was for 679k, hes at 9.875% apr and hasnt paid in 3 years. He currently owes 802k. Anyhow, my dads friend friend lives in the house that I am talking about. The tenant has been living there for 2 years without paying rent because the owner has gone AWOL. The renter received a bunch of documents about the house from CitiBank. They have told him to pick up the house before its foreclosed. The renter has no interest in owning it. The house is a complete mess. The renter gave my dad all the documents the bank sent him and asked him if he was interested in it. I am actually interested in this property if its dirt cheap. I thought of a few scenarios:
1- buy the property with my brother in law and brother, destroy it and sit on the property for years until a developer wants it (what are the tax implications for just having a lot)
2-buying it with them and rehabing it (any govt assistance in this? maybe the neighborhood rehab program?3
3-destroy the property and use it as a parking space until a developer wants it
It seems like the bank really wants someone paying them. Chase Home Estimator and Zillow valued it at around 450-550k. The house is also very small around 1,300 sf.
Ive got on hand about 200 pages of documents on this house. How would anyone go about this situation?
[ offer them 50k ?? :)]
Double Duplex vs 3-over-1
I know this may be too general a question, but a RE agent told me that there would be more people looking for a double-duplex than an owner's triplex with 1 floor rental.
Could that be correct?
October 3, 2009
Certificate of No Complaint?
What is a certificate of no complaint?
What is a certificate of non-harassment?
I have been reading through old posts to try to figure it out, but could someone just tell me what it is and how it might affect the purchase price of a home. Thanks.
October 1, 2009
Price My Apartment
We're thinking of selling soon. What do you think is a reasonable asking price in this market? It's a 1.5 bedroom apartment in a full-service, pre-war building in a prime Park Slope location. Maintenance is around $1000/month. The kitchen and bathroom are in good condition, but could use some updating and cosmetics. The apartment gets plenty of light and has nice original detail and five large closets. TIA.
Clinton Hill/Bed Stuy
I am thinking of buying a house in Clinton Hill or Bed Stuy but am not that familiar with the neighborhoods. Are there certain areas in those neighborhoods to avoid?