Renting & Real Estate - December 2006

Anyone living in the NYC area will tell you how expensive buying property is. One has to make a six figure salary in order to buy a detached single family home in a quiet, safe, and nice neighborhood. Can a person buy anything on a "average" persons salary? By average, I mean between 40 to 70 thousand a year, although I know too many people are making less than that here in NY. The lowest price of a condo is 250,000 for a two bedroom... and that is considered great. I don't want to be a renter the rest of my life, nor am I interested in a co-op.

2006-12-26 04:49:13 · 4 answers · asked by Anonymous

Property is now in the name of the two daughters according to the county assesors office but the daughter I have contacted says it is in probate and she cannot sell until that is finished.

2006-12-26 04:37:27 · 6 answers · asked by James R 1

I have to have a 3 bedroom and it must take dogs. The most we can spend is $1200.00. We live and work in southeastern MA and would like to stay close.

2006-12-26 04:25:01 · 10 answers · asked by **Red** 3

What do you think? Am I setting my sights too high?

2006-12-26 04:24:19 · 28 answers · asked by Jessica 2

If I pay off the HOA lien for a house I am renting, will I be able to have any rights, title or interest into the house? The landlord cannot pay and may even have to file bankruptcy. Am I in a good position or a bad position to buy this house?

2006-12-26 04:21:08 · 4 answers · asked by Blitz 3

I know I'm not legally required to do this but I would like to allow them to move out early. If they agree to pay one months rent in liquidated damages (which is an estimate of what it will cost me to get the house re-rented while it's vacant due to them breaching the contract).

The original lease did not have a liquidated damages clause in it (there was no way for them to end the lease early), so I'd like to add this. Does anyone know where I can find an example of what this contract should look like? What happens if they fail to move out by the date specified? I

Basically it should say:
1) We're ending the lease on X date
2) Tenant has agreed to pay $X in liquidated damages, which is due at the time of signing the contract to end the lease early.

What am I missing? How do I word this? I am planning to return their security deposit after they move out and I am able to do a final walkthrough of the house. I want to make sure that what I do is legal and fair.

Thanks
-Tom

2006-12-26 03:41:47 · 8 answers · asked by DBADiver 2

i am considering to buy my first home and have gone through so many pages in the web discussing home buying. finished a degree in business (interests and mortgages learned but not real estate). i havent talked to any financial institution yet but planning to get a prequalification. is it a must to hire a realtor? in which process will he/she be very helpful?

2006-12-26 03:15:18 · 10 answers · asked by simpleme 2

We want to buy a home around June when our lease is up in our townhome. When should we start looking for property? I feel if we look to early then a house would probably be sold before we were ready to move in.
What is the best way to get the timing just right?
THanks

2006-12-26 03:15:03 · 4 answers · asked by jezabella 3

i am renting at the moment and would like to buy, but don't know how to find out how much i will be allowed to borrow, i don't want to keep applying to different companys as i have been told this can affect my credit

2006-12-26 02:49:55 · 19 answers · asked by mary d 1

I live in Los Angeles and I am considering purchasing realestate in texas. I am trying to generate positive cash flow. I am looking for 1 stop place where broker can help me purchase and help me with property management. Since I live in LA it has to be someone extremely responsible and knowledgeble. If you had positive experience in this area please let me know who I should contact

2006-12-26 02:48:47 · 2 answers · asked by Russell R 1

Please answer the question and don't tell me to wait a year and all this other things. My problems was in the past and it has just stuck with me. Stupid credit cards and things like that nothing major. I paid my car off I haven't been late on 900 a month rent in 3 years I've been renting. I need a house. Who should I go to for help. What companys or agencies offer help for people like me. Thanks alot.

2006-12-26 02:44:16 · 9 answers · asked by Anonymous

2006-12-26 02:40:19 · 1 answers · asked by mystic 1

I am a 2nd floor condominium owner. Over the past 3 months my
downstairs neighbor has been complaining about intermitent leaks.

After 3 months of dragging their feet, the association said that they
found the leak, that the leak was within my area of responsibility, and that it is my responsibility to pay for those damages to my neighbor's unit.

To top it all off, my neighbor is trying to get me to reimburse him for damages that happened prior to me taking ownership of the unit.

I have 2 questions:

1. Wouldn't the Association's homeowner's policy be responsible for the accidental water damage. After all, it was not willfully or
negligently caused.

2. Wouldn't the liability of any damage prior to my ownership rest with the previous owner (if any liability rests with the owner at all)?

I live in Winter Park, FL. HELP!!

2006-12-26 02:28:31 · 4 answers · asked by Willie S 2

my husband and I need to sell our house because of a job change. What happens if I cant get the amount of my mortgage out of the sale of the house? Will i have to pay that before it closes or will i still be able to make payments? what are the hidden costs in selling a house? I want to know how it works, so let me know! thanks!

2006-12-26 02:17:52 · 7 answers · asked by lonijean 3

It is supposed to be a regency house - which I believe is 1820 - 1830 period. I need picture for university coursework & postcode(if possible) of property.

2006-12-26 02:07:12 · 9 answers · asked by Anonymous

am looking for a 1bdrm apt in Astoria ,NY for around $1100...near subway.Planning to move in Feb.Know anyone moving out?

2006-12-26 01:53:48 · 2 answers · asked by tenzin 1

2006-12-26 01:30:06 · 5 answers · asked by lindalou83 1

My in-laws (soon to be 70 y/o each) want to add 1 of thier 7 children to thier house deed in order for it to stay in the family & not be sold away at thier death. Is it as simple as going downtown & adding them on? Or should they put it in a will what they want (if so, will the property transfer that way)? Are there any tax implications to doing it either way? Is one way better than the other? Why/why not? Is there a different & better way than those options?

Info:
1 mortgage for $100k left (with only the inlaws on it).
in Washington, DC.
been in house for 30 yrs.
will most likely keep house for either principle resident or rental.
the child currently rents, will they have to buy from estate?

2006-12-26 01:27:26 · 3 answers · asked by ricks 5

Are 3rd mortgages only provided by hardmoney lenders? What is the easiest way to apply and how do I find a lender that handles 3rds?

2006-12-26 01:06:46 · 6 answers · asked by Million C 2

my viatnamese tenant wants to pay her rent before the new year and it is not due until 2nd January 2007 is there a reason for this culture wise how would i show respect for this what would be the best way to continue with the good business relationship we have now i know othing of their culture and want to make sure i do not upset them by going about it the wrong way

2006-12-26 00:50:32 · 10 answers · asked by Anonymous

So heres the skinny i make about $34k a year, my FICO is at 610 as of this morning, and i have no money for a down payment so would need 100% financing... I am looking to invest into multi unit properties, the properties i am looking to purchase are 3-4 units and are no more then $125k per building...

Here are my questions... Are there banks that will finance me? and if so where because i am not having any luck finding them...

I would like to start investing and buying a place every 4-6 months or so, is it possible to get into investing into multi unit buildings if you have no money down? Say i have bought my forst building with no money down, will i be able to get financed for a second, thirds, fourth, etc with no money down?

Also does it make sence to start a LLC or some kind of small business and buy the buildings using the business instead of my personal info? what are the advantages/disadvantages?

Thanks!!

2006-12-26 00:34:33 · 5 answers · asked by Anonymous

2006-12-25 23:04:21 · 3 answers · asked by mike k 1

I would like to know how i can search on the net for the previous owner of my house as i think there is a ghost in the house and i want to know if it has anything to do with the previous owners. The search would be 15-20 years ago.

2006-12-25 22:56:38 · 9 answers · asked by summa_girl84 1

NOW THAT PROPERTY PRICES HAVE SKY ROCKETED ,IS THERE ANY POSSIBILITY THAT I CAN STILL LOOK FOR THAT LAND IF YES WHO ARE THE BEST PROPERTY DEALERS THERE .2) IF SOMEONE IS ILLEGALY SITTING ON THAT LAND WHAT IS THE PROCEDUER TO GO ABOUT .

2006-12-25 22:11:35 · 3 answers · asked by Anonymous

2006-12-25 21:30:02 · 2 answers · asked by Russell R 1

I am a single parent who has to live on one income I am not going to be without some bumps along the way. I want to rent from an apartment complex who charges 505 dollars a month for what I now pay 800 dollars for. I do not want to waste my money applying and getting turned down. If I do get turned down, how can I get around the credit check.

2006-12-25 20:56:06 · 10 answers · asked by nene 3

Hi all,I would like if someone can tell me if I sell my originally
purchased $110,000 home/30 YR Mortgage and maybe get an acceptable offer will I still owe the bank the rest of the balance on
the interest? Thanks All

2006-12-25 20:45:54 · 4 answers · asked by sheila_8276 1

I have been through bankruptcy chapter 7 and chapter 13. What steps can I take in order to buy a home? Is there hope for me to live my dream?

2006-12-25 18:06:29 · 8 answers · asked by Anonymous

I think I might have mold in my house. Ever since we moved in there was the distinct smell in two of the rooms that we can't get rid of. I've noticed I have been getting sick more and had more flu-like symptoms since we moved. We rent the house, so should i bring it up to the landlord? And is it the landlords responsibility to pay for costs?

2006-12-25 16:35:46 · 10 answers · asked by bradphat 2

I want to know when to best buy a home.

2006-12-25 15:21:55 · 5 answers · asked by daldes 1