Buying Services for Staten Island Home Buyers


 

               

 

 

 

 

 

Congratulations!  You have decided to purchase a Staten Island home, or are thinking about buying one.  You'll be joining the ranks of hundreds of  Staten Island families who realize that home ownership offers a number of benefits including building equity, saving for the future, and creating an environment for your family.  When you own your own home, your hard-earned dollars contribute to your mortgage. The equity you earn is yours.  Over time, your home will increase in value.

In the following reports, you'll find the information you need to make a wise buying decision.  We'll take you through the planning process step-by-step, to help you determine which home is right for you.  You'll find a host of informative articles on mortgages, viewing homes, the offer, closing details and moving.

 

First-time Homebuyers:
 

I will . . .

> Work at no cost to you!
> Provide detailed listing information not available to the general public.
> Negotiate the deal to save you money.
> Guide you through the avalanche of paperwork.
> Commit my time and energy to finding you the right home.

 

Your decision to buy a home is both a sound financial decisionand a commendable achievement.

As your real estate agent . . .

  • I will lead you through every step of the exciting home buying process.
  • I will help you define your "wish list" of features you want in your home, your neighborhood and your school district.
     
  • I will walk you through the mind-boggling financial details associated with buying a home, including understanding the various mortgages and home buying programs available to you.
     
  • I will monitor all new listings and alert you to new houses as soon as they are put on the market.
     
  • I will eliminate the stress involved with buying a home by putting my years of real estate experience to work for you.

 

 

*Finding the perfect home or selling your present home is my business, and as a top producing real estate broker, you can be sure: Customer Service Is My # 1 Priority! Contact me today: 718-987-7900, Ext: 263 

 

 

 
 
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rightBuying bank owned properties
There is a lot of interest in buying bank owned properties these days. A lot of information, some good and some bad, is floating around about the subject.   Often the information offered is for sale, with the promise that you can make a lot of money with little effort once you know “the secret formula”.  The fact is that there are no secrets, and to make money does require effort.

What’s an REO?left
REO stands for “Real Estate Owned”.  These are properties that have gone through foreclosure and are now owned by the bank or mortgage company.  This is not the same as a property up for foreclosure auction.  When buying a property during a foreclosure sale, you must pay at least the loan balance plus any interest and other fees accumulated during the foreclosure process.  You must also be prepared to pay with cash in hand.  And on top of all that, you’ll receive the property 100% “as is”.  That could include existing liens and even current occupants that need to be evicted.  A REO, by contrast, is a much “cleaner” and attractive transaction.  The REO property did not find a buyer during foreclosure auction.  The bank now owns it.  The bank will see to the removal of tax liens, evict occupants if needed and generally prepare for the issuance of a title insurance policy to the buyer at closing.  Do be aware that REO’s may be exempt from normal disclosure requirements.  In California, for example, banks are exempt from giving a Transfer Disclosure Statement, a document that normally requires sellers to tell you about any defects they are aware of.

rightIs it a bargain?
It’s commonly assumed that any REO must be a bargain and an opportunity for easy money.  This simply isn’t true.  You have to be very careful about buying a REO if your intent is to make money off of it.  While it’s true that the bank is typically anxious to sell it quickly, they are also strongly motivated to get as much as they can for it.  When considering the value of a REO, you need to look closely at comparable sales in the neighborhood and be sure to take into account the time and cost of any repairs or remodeling needed to prepare the house for resale.  The bargains with money making potential exist, and many people do very well buying foreclosures.  But there are also many REO’s that are not good buys and not likely to turn a profit. 

Ready to make an offer?left
Most banks have a REO department that you’ll work with in buying a REO property from them.  Typically the REO department will use a listing agent to get their REO properties listed on the local MLS.  Before making your offer, you’ll want to contact either the listing agent or REO department at the bank and find out as much as you can about what they know about the condition of the property and what their process is for receiving offers.  Since banks almost always sell REO properties “as is”, you’ll want to be sure and include an inspection contingency in your offer that gives you time to check for hidden damage and terminate the offer if you find it.  As with making any offer on real estate, you’ll make your offer more attractive if you can include documentation of your ability to pay, such as a pre-approval letter from a lender.  After you’ve made your offer, you can expect the bank to make a counter offer.  Then it will be up to you to decide whether to accept their counter, or offer a counter to the counter offer.  Realize, you’ll be dealing with a process that probably involves multiple people at the bank, and they don’t work evenings or weekends.  It’s not unusual for the process of offers and counter offers to take days or even weeks.

 

 

                                         

Please contact me if you have any questions about buying a home in Staten Island or elsewhere in New York.      

 

 

 

Below, select desired reports and complete the form provided. 

 

 

Avoid The Most Common Buyer Errors
Some buyers, however, caught up in the excitement of buying a new home tend to overlook some items. When you have a systematic plan before you shop, you’ll be sure to avoid these costly errors. Here are some tips on making the most of your home purchase.
Buying Your First Home?
Many renters are starting to think about purchasing a home of their own. This article highlights several factors that should be considered when purchasing a home.
How Not To Pay Too Much For Your Home
This article helps you become a savvy buyer, by pointing out some of the pitfalls inherent in the home-buying process.
A Smooth Home Purchase in Six Steps
Buying a home can be an emotional, time-consuming, and complex process. There are a few things that you can do to help make the process go as smooth as possible
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