The average real estate transaction in New York City is relatively large and can amount to millions of dollars. Collecting 1% of the total purchase price as commission is a reasonable fee on these transactions. At the same time, the difference of the broker commission split after collecting our 1% 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…
Owning a home comes with monthly mortgage payments, property taxes, homeowners insurance, repair and maintenance of the things that break. Seems like a lot of responsibility, but not necessarily more than coming up with the monthly rent that allows you to live in your apartment. If you miss your rent, Read more…
NY REAL ESTATE BUYER REBATES ARE LEGAL Real estate broker commission rebates are legal in 40 states, including New York state. NY Attorney General Eric T. Schneiderman issued a public letter confirming that commission rebates are legal. New Yorkers are encouraged to take advantage of lower commissions when buying a home. Changes Read more…
Some homeowners are not ready to sell until you present them with the idea of someone wanting to buy their home because of the nearby schools or the family oriented community. Include your best family photo with the letter of intent. Letters help plant the seed in homeowners who have Read more…
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…
Your mortgage application requires an appraisal from an independent third party. The lender only wants to be in a position to be able to recover the amount of money loaned to you if they are forced to sell the home as collateral when the loan is in default. The appraisal Read more…
The borrower can save thousands of dollars by eliminating the loan application fees and bank processing fees. Working directly with friends and family, the buyer no longer pays for the professional services that lenders employ throughout the lending process. No private mortgage insurance (PMI) required. Even if you borrow 100% Read more…
Escrow accounts are set up for home owners to manage their budgets because large property tax bills are due infrequently. The escrow accounts builds a reserve to pay these bills by collecting from the homeowner on a monthly basis. These escrow accounts are managed by lenders. Mortgage lenders will sometimes Read more…
As a home buyer, it is recommended that your rebate agent only represents you. The way to find out is to make sure that your agent isn’t representing the seller at the same time. If they are, then one of their goals is to help the seller get the highest Read more…