There are several programs, aside from the VA, that would require no down payment. These programs have unique qualification requirements and contingencies. Most of the times these programs involve grants that are designed for moderate to low income families, so your income cannot exceed a certain amount depending on household size, other times they're restricted to a specific town or county, etc. Sometimes they also require you to live in the property for 10-15 years, and if in that time you decide to sell or refinance, you would have to pay back the funds they provided for down payment or closing costs.
You always have FHA, which only requires a 3.5% down payment and doesn't come with any of these other restrictions. I suggest you speak with an experienced loan officer who has these programs available and see which would be a good fit for you.
Good luck, and feel free to email me with any questions!
Javier Meneses
Sterling National Bank
jmeneses@snb.com... more
Hi,
If I am understanding you correctly, you purchased the home without having the certificates of occupancy in place for the playroom and pool? Were you working with an agent who represented you in the transaction? Did the attorney representing you advise that the taxes would increase once you applied to the town for the Certificates of Occupancy? Did you know that the certificates of occupancy were not in place? If not, You may wish to revisit with them both to discuss.
However, the most important thing to do now is to try and correct the situation.
At this point, it is correct that you can attempt to grieve your taxes. Contact the Town of Islip in order to get the correct information regarding the specific dates that this must be done. You have three options:
Complete the paperwork and file the greivance yourself.
Hire a Professional company that deals in tax greivances.
Hire an attorney, who may cost more, but may provide more personalized service.
Also correct, is to apply for the star exemption which will help lower your taxes due, although has nothing to do with the decreased value of your home,which is dictated by the supply and demand of the current Real Estate Market.
Best of luck to you,
Dorothea "Dot" Salvo
Keller Williams Realty
Cell: 516-768-6196
E-Mail: dotsalvo@aol.com... more
In Suffolk and Nassau counties of New York State, you don't fill it out, the title closer/attorneys do. (And if you're an agent asking this question, the answer is, you don39;t fill it out....especially if you're here asking for help! )
If you're the buyer, I certainly hope you have an attorney representing you, even if you're working directly with an owner to buy this property. In New York State it is reckless to buy or sell real estate without an attorney's advice.
For a cash transaction a HUD-1 form is not required by federal law, to my knowledge, but it sure is nice.
A few years ago I hired an attorney who didn't use a HUD-1 form. When I bought a property all-cash, he wrote the data out on blank paper as a letter. That's old school and I don't recommend it, and I wouldn't let an attorney do that with me again; it's harder to read, and he made a minor mistake that wasn't caught prior to the closing. So insist on a HUD-1, and then review it to look for errors.
Karla Harby, VP
Charles Rutenberg Realty
kharby@crrnyc.com... more
Dear Salil,
Hud's website is quite helpful. But if you are looking for short sales, foreclosures, etc. I would be glad to compile a list of properties based on your specific criteria in Brooklyn. It is not difficult to find a great income producing property, since you already have a contractor that is willing to do the work. There are several great areas in Brooklyn that have distressed properties that you may be interested in such as Canarsie, East Flatbush, Mill Basin, Bensonhurt, etc.
Look forward to speaking to you.
Nirmala Caraballo
Licensed Real Estate Agent
Cruse Realty
Tel.: 646-479-7873
Email: nhcaraballo@yahoo.com... more
Hi Dan, A good source of information is the website www.greatschools.com. Once you determine which area you are interested in, please give us a call and we can get you started on home searches with our Free Private Home Buyers Website. You can reach us at our email -longislandrealtors@gmail.com... more
You can call your local Town Tax Assessor's office...they can tell you by property address, and many time name of the owner also. Nassau county has website to look up the taxes.