tyber,

I have to disagree with your Chief. My neighbors were burned out of their building a few years ago. One woman locked the door behind her. They did hack their way in, which left her without a way to lock her apartment for the weeks that the building was uninhabitable. Meaning there was no one living in the building, obvious signs of a fire on the top floor and her apartment unlocked. She stowed a lot of valuables (like bank statements) at our place and had someone barricade it from the inside and climb out the window until the lock got fixed. It was a huge production and a pain.

If there's actually a fire, don't lock the door.

And if you live in Brooklyn, don't freaking leave valuables in plain site anyway.

Posted by: serpentor at November 9, 2009 5:40 PM in response to Fire Dept Inspection

Location, location, location.

If you're a hike from any train and the train on your hike doesn't leave the counties regal, you need to be getting a deal. $575K is not that deal.

Posted by: serpentor at November 9, 2009 5:26 PM in response to Condo of the Day: 689 Myrtle Avenue, #1G

'tis only a piece of heaven if you can take a ferry to work instead of sardining it with the rest of the L-train riders.

Posted by: serpentor at November 4, 2009 10:13 AM in response to East River Ferry Service in Jeopardy—Again

Also, I'm sure you already know this because everyone does, but don't leave oil soaked rags balled up, make sure the room has plenty of ventilation and don't smoke. The Daily News had a story in the last six months about some guy who created a fireball by not ventilating the basement unit he was refinishing.

Posted by: serpentor at October 30, 2009 2:02 PM in response to Staining Regular Oak Floors Dark

Is the building rent regulated (probably, if it is 5 floors). In that case you should look up the rules on the state DHCR site.

Posted by: serpentor at October 30, 2009 1:53 PM in response to Shifty Landlord or Poor Planning

Okay, so it has been said. Cats. Poison. Traps.

You do want some poison in the basement, too, for sure.

Posted by: serpentor at October 30, 2009 1:37 PM in response to Mice in Bed-Stuy

If you address something to Fort Greene, NY 11216 it till get there. So will "Queens, NY"

Posted by: serpentor at October 23, 2009 2:50 PM in response to Mailing Addresses: BK vs QNS

No experience with paint, but since it has come up ... here are some how tos on wrapping pipes in jute:

http://www.apartmenttherapy.com/ny/how-to/how-to-wrap-your-hot-pipes-with-rope-015526

http://www.instructables.com/id/Handlebar-barwrapgrips---whipping-and-shellac-cov/

Posted by: serpentor at October 23, 2009 2:47 PM in response to Heat Riser Rusted After Painting

You the tenant or the landlord?

If the place isn't rent regulated you could make a reasonable case that the landlord had their chance and you aren't going to pay a deposit just because they never cashed the check.

Posted by: serpentor at October 23, 2009 2:39 PM in response to Getting Sec Dep After 5 Yrs

Seriously, one agent had a halo. ??

Posted by: serpentor at October 14, 2009 2:14 PM in response to Co-op of the Day: 70 Remsen Street, #7D

I wouldn't pay for an engineer until you'd accepted my bid and sent me a contract. Not on a condo/coop that looks to be in decent shape. On a house, I'd pay for the engineer before I hired my lawyer. On a coop, I'd pay for the lawyer before I hired an engineer.

It isn't just the money, it is the time involved and the emotional energy.

As a buyer, I kind of like the sealed auction approach. Just tell all the bidders that you want their best offer by 5:00 on Wednesday and send a contract to the best offer.

Also speaking as a buyer, I'd say that you do well to just be honest about the state of the building. The engineer shouldn't be finding things you don't already know about.

Posted by: serpentor at October 14, 2009 2:11 PM in response to Multiple Bidders for FSBO

Biff, I don't think you can rightly say that Canada gave us poutine. I have never, ever seen poutine south of the border.

Posted by: serpentor at October 12, 2009 1:26 PM in response to Columbus Day Open Thread

Freecycle NYC is always a good bet, too. It's a Yahoo group, you can search the googles for it.

Posted by: serpentor at October 12, 2009 1:04 PM in response to Clothing donations?

Thanks, all.

Yeah, my question was about whether there are rules about how far a developer can go to protect comps.

I mean, legally, can they give me $100,000 cash back on signing? (And does that mean my first time home buyers tax credit comes out $100 richer?)

It sounds like they could legally cover closing costs and/or buy down a point on our mortgage:
http://online.wsj.com/article/SB125470256909163111.html

Boerumresident, I tried to find more coverage in the WSJ but all my search turned up was the article above. I'm genuinely interested in knowing a lot more about this.

Posted by: serpentor at October 8, 2009 4:15 PM in response to Is This Even Legal?

Consumer Reports.

Posted by: serpentor at October 8, 2009 12:08 PM in response to Ikea vs. KraftMaid?

Thanks Slopefarm. The upside to all this is that we missed the opportunity to buy at the top of the market.

I guess I'm just trying to wrap my head around how deep the discount can go before the bank says "wait a minute, we're not lending you a grossly inflated price!"

I mean, I could say "we'll pay one meeellion dollars for this ground floor condo and you will pay our maintenance for 30 years!" and they'd get their "this sold for one meeeellion dollars and it is only 200 square feet!" and I'd pay a huge mortgage but no maintenance.

Or does it just come down to the bank saying "sorry hun, no one within a mile of you has paid a mill for 200 square feet. Our appraiser says this is a $200,000 apartment so that is what our lending is based on."

Another question: is there a point at which owners can force the developers hand? If the developer is holding out for prices that are just way more than the market will bear is there a point where the owners can say "Lookee. We had a deal and you need to hold up your end of it by selling units. Now." Or do owners just never do that because they've got too much riding on the inflated prices they already paid?

Posted by: serpentor at October 8, 2009 12:08 PM in response to Is This Even Legal?

I'm just trying to figure out what the Oro and the Forte mean for condo/coop prices around here in general. I've watched the two Lexington loft buildings sit basically empty for a year while they inch the prices down.

Corcoran has a smaller listing on Greene and Classon for ~$450K which makes this look pretty good.

Posted by: serpentor at October 7, 2009 1:56 PM in response to Co-op of the Day: 25 South Oxford Street, #5

Also, it is worth talking to UHAB, the United Homesteaders Assistance Board, which can be a real resource on things like this.

Posted by: serpentor at October 7, 2009 1:13 PM in response to How To Compare Maintenance

I just want to know why it is so hard to give the dang details on a condo's website. Price, square footage, maintenance. Why is one of those always buried?

Posted by: serpentor at October 7, 2009 10:45 AM in response to Prices Drop at the Oro Tower

You know, you can create forms in Google Docs that will populate a spreadsheet that you do or do not make public.

And I bet that plenty of co-op boards in PLG have the same question and would love to share information about what they're paying and what they're getting for it.

It just takes an organizer to get the conversation started.

Posted by: serpentor at October 7, 2009 10:39 AM in response to How To Compare Maintenance

Rule of thumb that never fails:

If it looks to good to be true, it is.

Posted by: serpentor at October 5, 2009 4:55 PM in response to Bizarre Foreclosure Scenario

And for gods sake, if you actually want to spend $850K:

http://www.streeteasy.com/nyc/house/165-fenimore-street-brooklyn

Posted by: serpentor at October 2, 2009 12:47 PM in response to 65 Clifton Place Hits the Market

Gut job? There's a move in brownstone (okay, so a gut wouldn't hurt but it's doing just fine) on the market for $700,000 on Clifton and Classon.

I think the prices on Clifton are crazy optimistic. Anyone been to Lexington Ave lately? The block between Franklin and Classon is one big glut of lofts that are going nowhere fast at lower asking prices.

These prices are a joke.

Posted by: serpentor at October 2, 2009 12:47 PM in response to 65 Clifton Place Hits the Market

Bad link on Windsor Terrace, by the way.

Try ...

http://propertyshark.com/mason/nyc/Reports2/showsection.html?propkey=137785

Posted by: serpentor at September 24, 2009 2:04 PM in response to Brooklyn Sales: Under a Million

Uh: if the building the appraiser sees doesn't match the plans the DOB has, it could very well get in the way of getting a mortgage.

Some future buyer's bank will insist that it be torn down or certified.

Posted by: serpentor at September 10, 2009 3:24 PM in response to Messy DOB Situation with Ext.

FWIW, I'd get hostile, too, if I responded to an ad that said "no credit check" and then someone wanted me to pay for a credit check. Smacks of bait-and-switch, even if that wasn't your intention.

Our landlord never asked for a credit check but he did call my employer to confirm that I really work there. You can also ask for past landlord references.

Posted by: serpentor at September 10, 2009 3:22 PM in response to Credit Check for Tenants?

Um, not to state the obvious or anything but you could always *try* the FSBO route and then find yourself a broker if that isn't working for you.

Posted by: serpentor at September 10, 2009 3:11 PM in response to FSBO or Not?

Funding in house? What does that mean?

Honestly, you've gotten far enough that you ought to just call a few banks. It is a ten minute conversation at this point: "My income is a, I have credit score of b and cash reserves of c. I'm in contract to pay $x for a condo in a three unit building in Brooklyn. I'm wondering if you can do better than 5.75% with a half a point down?"

The answer ought to be "yes" or "no."

Posted by: serpentor at September 10, 2009 12:13 PM in response to Advice on Mortgage Rate

Does $30K include permits? Are you even legally allowed to build a 20 foot extension?

Posted by: serpentor at September 4, 2009 5:49 PM in response to Expensive Estimate?

landofenchantment,

I'm with jre on this: this guy is trying to shake you down or he's got some longstanding ethnic/racial/cultural beef with you or the seller and feels like f*cking with you. Either way. . Document the timing and new findings of each inspection and file a complaint.

And OP,

You'll have a hard time getting a mortgage without removing the kitchen if the unit really is illegal. I'm with folks who pointed out that it isn't really accurate to say that "many" homes have unregistered subterranean units. They exist, yes, but people often have to take them out to get mortgages.

Aside from the difficulty of evicting someone from an illegal unit (which I've only ever heard rumors about) there's also a real safety question. What happens if there's a fire (they do happen, especially in kitchens) -- can someone who was sleeping in the next room walk straight out a door to safety? Or do they have to get up some stairs first? Through a lot of smoke?

Posted by: serpentor at September 4, 2009 5:43 PM in response to Mortgage Contingencies

I'd proceed with caution here.

Legally, it don't mean a thing until there's money in escrow.

So technically, yes: they could sign a contract with Mr B right this second and both of you dilly dallying buyers would be out of luck. Nonetheless, think about the scenario here.

It is possible that there's another buyer who is getting petty and the sellers have said to them, "Look, sign or move on. We're done negotiating." Or maybe there's another buyer who has legitimate concerns and doesn't want to get trapped in a contract that, for whatever reason, they don't think is fair or reflects the original offer negotiation. Or maybe the broker is straight up BS-ing you.

So no matter what, don't let the broker rush you. If you want to nit pick, you should do that. Not to take the analogy too far but honestly, checking for nits is how you avoid getting a headful of lice. You're making a big investment and you want to have an experienced real estate lawyer review the contract before you sign it.

Posted by: serpentor at September 4, 2009 5:19 PM in response to Contract race?

Harlem's not in Brooklyn. You realize that, right?

Look around at listings. I'm a huge fan of StreetEasy and PropertyShark, I know others like Trulia and Zillow. I think you'll find that both run the gamut and it depends on the quality of the construction, state of the unit, desperation of the seller and phase of the moon.

Posted by: serpentor at September 2, 2009 12:56 PM in response to Which one costs more?

I'm with CMU. I bet you can DIY this, you just have to replace some hardware. Here:

http://www.thisoldhouse.com/toh/skill-builder/0,,20058655,00.html

Or look around on Instructables.

Posted by: serpentor at September 2, 2009 12:35 PM in response to Light Fixture from Hong Kong

PS. If you want more info on Hakeem Jeffries or the district he represents, check out:

http://www.gothamgazette.com/albany/district/assembly57

Posted by: serpentor at August 28, 2009 11:54 AM in response to ID'ing Troubled Condos

Well ... what do you want to do?

Do you want out of this deal? Then talk to your lawyer. You can probably walk if you can't get a mortgage because of the appraisal.

Posted by: serpentor at August 24, 2009 5:17 PM in response to Home Appraisal

So what happens to the owners in those buildings?

Posted by: serpentor at August 24, 2009 4:11 PM in response to DT Condos Going to City?

I'm making this up, but honestly if you want to stay in this market it doesn't matter when you move. The market goes down, you'll sell for less and buy for less. The market goes up, you'll get more for your coop but pay more for a house.

Posted by: serpentor at August 24, 2009 4:10 PM in response to what to do with all this equity?

Obsessed with: the carriage house. And the light afforded by bordering on a driveway instead of another building.

Not wild about: honestly, I wish I knew. I think it's a location thing. Farther, by bicycle, from the places we go, mostly.

In general, I think the place is in great shape (okay, so the carriage house needs a roof) and the price is right, and I'm kind of amazed it is still on the market.

Posted by: serpentor at August 24, 2009 4:06 PM in response to Bed-Stuy: 'Experiencing a Little Bit of a Depression'?

I'm obsessed with this place:

http://www.streeteasy.com/nyc/building/604-halsey-street-brooklyn

which my better half is less impressed with. If you're looking in Bed Stuy, this is worth checking out.

Posted by: serpentor at August 24, 2009 12:20 PM in response to Bed-Stuy: 'Experiencing a Little Bit of a Depression'?

Wow, kdabrowski -- thanks for the link. That is a great resource to know about.

Posted by: serpentor at August 21, 2009 1:30 PM in response to Landlord Problem

I'm getting ready to make a sheet called "preferred modes of communication for brokers" that will include "do not talk to me about what could be done with the cellar if I can touch the cellar ceiling without reaching."

Also, when I say "You really have to stop referring to the cellar as potentially livable space," you really should stop. At least in my presence. I don't care what you tell the next guy.

And ... um ... really? I mean you can talk like that and I can make an offer based on your unaccountably distorted vision and then I can bring in a contractor to give me an estimate on the impossible and then, after I've wasted your time, I can come to terms with the fact that this cannot be what I want it to be.

I'm just whining, but I do appreciate you all humoring me as I do.

Posted by: serpentor at August 21, 2009 1:29 PM in response to "Livable" Cellars?

If you're paying for both I'd assume both are gas.

We pay heat and hot water and our bills are consistent with Kramer's. We definitely keep the heat off at night and keep the thermostat fairly low and just wear sweaters during the day when we are home.

I know that our new neighbors cranked up the heat and were pretty floored by the first bill.

Posted by: serpentor at August 21, 2009 11:26 AM in response to Heat/HW Costs in a Rental?

This is the key line: "We asked for him to put this in writing and he refused."

What is and isn't legal depends on whether or not you're rent stabilized, but anything that isn't in writing is bs.

So you should put it in writing to the people you pay your rent to. Make sure they know about the first round of key money too. It is definitely *not* legal.

Posted by: serpentor at August 19, 2009 1:22 PM in response to Landlord Problem

There are good inspectors out there and most of them can tell you the difference between normal settling and potentially major (or just firmly major) structural issues. Look in the forums for inspector recs and ask about experience with older frame houses when you call.

Posted by: serpentor at August 13, 2009 1:27 PM in response to Settling and Sagging House

They're public record. Anyone can look at them, you don't have to have a good reason. Often, there are plans online even. Check the DOB website.

Posted by: serpentor at August 12, 2009 2:46 PM in response to Getting Plans from DOB?

Thanks for the update, stiggaman.

Posted by: serpentor at August 12, 2009 1:23 PM in response to Despite Brutal Assault, Crime Down in 88th

Again, the big question is, can she sell it for what she paid in '05?
$290,000

I want someone to help me with the math here. How far under my purchase price can my sale price go before I really would have been better off renting? It is a bummer to lose money on real estate but if you figure she would have been paying $1500 for a comparable rental, lob off the maintenance, that means there's a good $54,000 she didn't spend on rent. Though she presumably did spend it on mortgage interest, right?

Posted by: serpentor at August 6, 2009 1:23 PM in response to Co-op of the Day: 27 South Portland Avenue, #3

@backinbrooklyn I don't think there are specialists since the foreclosure crisis is wreaking havoc on that neighborhood and by nature people in foreclosure are desperate and scared. If there's anyone who specializes you'll find them by the signs they've taped up on the block.

Posted by: serpentor at August 5, 2009 2:23 PM in response to Foreclosure of the Week: 821 Greene Avenue

My bet? The bank can't sell it. Period.

Our fall-through finally sold (at 15% less than the contract we had. Their loss, not ours.) for $645K on a much nicer block, closer to trains, Von King Park. Move in condition and bigger -- from the looks of it that fourth floor is not one you're going to do many jumping jacks in. $775K was beyond a bubble price.

We looked at a few places by Marcus Garvey -- the blocks aren't bad, but there's n-o-t-h-i-n-g nearby and the walk from the train at night is long and forlorn.

I'm not kidding with my estimate. $450K.

And, Arkady, the sale price is public record. It'll be on p-shark a few weeks (two or so) after the sale closes.

As for the lien ... not that I'm a propertyshark expert or anything, but they borrowed $736,250 which means they put 5% down. Which means they were probably paying sharp interest rates and bonus special extra fees and fines which can add up and start accruing interest pretty damn quick.

Posted by: serpentor at August 5, 2009 2:20 PM in response to Foreclosure of the Week: 821 Greene Avenue

Though I guess if I had that kind of money I'd have a whole world of options that I don't have now.

Posted by: serpentor at August 4, 2009 4:27 PM in response to Condo of the Day: 584 Pacific Street

they won't even bother with the hatch. They'll saw thru the foof wherever they feel the need to vent the flames.

Posted by: denton at November 9, 2009 6:04 PM in response to Fire Dept Inspection

I have seen the local engine company making the rounds, inspecting new construction in SSlope. They report violations that could endanger their lives in a fire. No one wants to fall down an empty unguarded elevator shaft or stairless stairwell in thick smoke. here is the link.

http://www.nyc.gov/html/fdny/html/cda/cda_fireco_inspections.shtml

Posted by: IMBY at November 9, 2009 9:01 PM in response to Fire Dept Inspection

The NYFD has increased the building inspection workload for your local firehouse. It went from 2 days a week to 3 days a week. If you live in a multiple dwelling home, 3 families or more you can expect an inspection. The basement is checked for accumulated debris, poor housekeeping, obvious faulty wiring, a fire extinguisher in the boiler room,( this is new, extinguisher inspected annually by certified inspector and tagged)determination if gas or oil heat (the fire is fought differently for these different fuels.)
The hallway is checked for egress, no bikes, boxes, clothes, toys, carriages. It is a hallway not a closet, or storage unit. The scuttle is checked (ladder and hatch to roof)this is not a closet. The ladder should be in place and secure. The hatch should not be padlocked, it should be open able from with-in. Hook and eye or deadbolt.

Posted by: Grumpy at November 10, 2009 10:59 AM in response to Fire Dept Inspection

grumpy, great info.
our hatch just has 2 hook/eyes to keep it sort of locked...mostly
from our neighbor's dirtbag son who got into someone house
via their roof hatch.

Posted by: CGmodern at November 10, 2009 11:16 AM in response to Fire Dept Inspection

The roof is inspected, fencing around shaftway within 3 feet of bulkhead door (secured as above)or scuttle. Fire escape checked, painted, no rust, no plants, bikes, animal shelters, no air conditioners in only window out of apt, and make sure ladder can drop to yard/street. Records updated (present owner, phone), asked if smoke alarm/ CO alarm is in apt. with fresh battery. You do not have to let Firemen into your apartment you do have to let them into the public area of a multifamily house, roof and basement. If your building is on fire leave the building do not lock your door, they will break in to make sure no one is unconscious inside. NYC firemen are not thieves, they don't want your stuff they can afford their own things. If they leave you paperwork it will be a Notice of Violation, you do not want paperwork. If they tell you to correct something correct it, they will be back.

Posted by: Grumpy at November 10, 2009 11:34 AM in response to Fire Dept Inspection

CG, the scuttle shouldn't be padlocked because it is a alternate way to the roof if the Dirtbags house is on fire. They didn't leave you paperwork because it is a pain in the !@# for everyone involved. The Bloomberg Admin. see's fire inspections and fines as an untapped revenue stream, people get your homes in order.

Posted by: Grumpy at November 10, 2009 11:46 AM in response to Fire Dept Inspection

After the fatal fire in Queens this weekend, the fire prevention group went out looking for more illegal apartments. If you live in a basement apartment, there must be a secondary means of egress and the windows must be openable a certain distance above ground. If the apartment doesn't meet code, you will be vacated. People get hostile when that happens, but it's better than burning to death.

Posted by: oshma at November 10, 2009 11:47 AM in response to Fire Dept Inspection

Two means of egress, the definition of basement is 50% of the space must be above curb level. Otherwise it is a cellar. But even if you meet the above criteria that doesn't mean you are in a legal inhabitable space. There are zoning regs, certificates of occupancy and other rules.

Posted by: Grumpy at November 10, 2009 12:16 PM in response to Fire Dept Inspection

The FD has the local firehouse doing inspections and civilian inspectors, the civilian inspectors are stricter then the firemen, they will write a summons. The firemen are looking for things that will endanger their lives and yours. Imagine them crawling around your,hot smoke filled hallway and apt. looking for your unconscious body. They don't want to get hung up on the bike in the hall, fall through the missing step on the fire escape. They want to be able to vent the hallway of the toxic smoke by gaining access to the roof and opening the scuttle, bulkhead door or hallway skylight.

Posted by: Grumpy at November 10, 2009 12:31 PM in response to Fire Dept Inspection

Grumpy- great information and clear explanations. Much needed.

Posted by: bxgrl at November 11, 2009 11:50 AM in response to Fire Dept Inspection