Selling your home or apartment?

Selling your home or apartment means choosing the right broker for the job Alt tag: a “house for sale” sign

When selling your home or apartment, there are a lot of things to take into consideration. Namely, there are a lot of people who aren’t sure who to contact when it comes to broker representation. That’s because there are a lot of professionals to choose from. However, you should keep in mind that, whichever person you choose for the job, it is going to be a business relationship. Every broker usually works for a big company and has social proof of the things they have sold. That is why your choice should be based on their personality type meaning that you should figure out if you could work with that person. So, read on if you’re interested to know more about the things you should do when selling your home or apartment.

Choosing the right broker when selling your home

Prepare a list of questions and try to interview at least three brokers for the job of selling your home Alt tag: one person interviewing another, that is how you choose a broker when selling your home or apartment

One of the most crucial things to keep in mind is the importance of hiring a good broker. This means that the right broker should be able to show you their skills and competence for the job. So, just try to remember that you are the one who has the right to ask questions and choose. Prepare a list of things you want to ask them and try to see if you’d be able to work with them. Go for the ones that have the most suitable personality type and the ones you align with the best. Also, a broker should act as a personal adviser and always have your best interests in mind. If they meet these requirements, one last thing to check is if they’re ethical and transparent with the public.

Selling a home or apartment is a lengthy process that can take up to six months or even more than that. Consequently, you’ll have to work with a broker of your choice for a long period of time. So, that’s why the best thing to help you make the right decision, is to interview at least three people for the job. Taking notes is advisable since it can help you pick the best broker to help you sell your home or apartment. Finally, always have in mind the fact that the brokers should be the ones to show you the following traits:

• their skills
• ability to close
• ability to identify a buyer
• to screen a buyer who is using financing

How long will you need a broker for?

Another thing to consider when hiring a broker is how long you should work with them. Usually, you shouldn’t do less than six months since this is a healthy period of time. It gives the broker enough time to market your home. Additionally, the agents also have enough time to expose the house properly.

A six months period is enough when it comes to the help of a broker and selling your home Alt tag:

If you want clear and concise information on real estate, do the search online. There are a lot of helpful websites with useful information about the process of selling your home.

Everything’s negotiable when selling your home

When it comes to how much you’re paying for the broker, don’t forget to negotiate. People believe that there is some kind of an industry standard that everyone goes by. Quite the contrary, you’re the one who gets to decide how much you’re going to pay the broker. They, on the other side, have to be well-qualified and willing to serve your interests. A broker has to be on your team and not the other way around. So, having in mind that there are a lot of brokers to choose from, offer a certain percent and stick with it.

You have to remember that deciding on a broker is like you’re putting out an ad for a job offer. You are the chief of the interview and not the real estate person. They have to do their best and show their experience in selling homes. Feel free to tell them your rules and don’t be afraid to eliminate candidates. For example, you should insist on them being present for every single house showing. The broker shouldn’t just let the buyer and the owner of the house negotiate by themselves since that’s what you’re paying them for. That is why you need to remember that commission is negotiable and your property needs to be well taken care of for the amount you’re paying. Similarly, read the contract carefully and make sure you’re dealing with an honest an ethical broker.

If you’re planning on moving after selling your home, you’ll need a reliable mover. Visiting manhattanmovernyc.com can help you choose the best moving companies for your relocation.

You can have a relative refer you to a good broker

If you have a relative in the business, don’t be afraid to ask them for a good referral. It is understandable if you’re don’t want to involve your family members into the whole process. However, when your relative refers you to a broker there’s no hard feelings there since everyone’s making money. The only time when there can be hard feelings is when you don’t acknowledge the fact that your relative is in the business. So, don’t choose to step over them and find a broker elsewhere. Involve them in the home-selling process while paying attention to your notes.

Pride of home ownership is normal when selling your home

It is totally understandable if you’re emotionally attached to the home you’re selling Alt tag: a key inside a door

Since you’ve probably invested a lot in your home or apartment and want to find the best buyers, pride of home ownership is understandable. You expect to be treated with respect and the broker needs to work in your favor. So, remember to have that in mind and tell it to your potential brokers. Additionally, there are certain yet rare cases when you should change brokers. You should do it if the broker is not communicating with you since you must get weekly or monthly updates. These include the latest market trends, how many people you’ve had at the open house etc.

Select wisely, mistakes are costly. ASkImma for ALL things Real Estate!

I will be posting new material and content very soon..

Stay tuned.

Since starting my AskImmaYoutube channel, I have talked about buying and renting homes. Hopefully, now you’ll be able to navigate a path to a successful home purchase. And if you’re a first time buyer, I hope that I have helped you with releasing your fear and set you on the right path. Now it’s time to do a recap and to wrap things up. This recap will be organized according to several important points that will help you to more easily sort all the information. Without further ado, let’s begin wrapping up!

Obtain your credit report for free

Obtain your credit report for free through one of the three giants. They will polish it for you every 12 months. That’s the best place to obtain your credit report, as it will come directly from the source. They are the ones who will transfer all the information to other companies. They are the ones who have everything on you from the minute you open your first credit report until now.

Do the math!

Don’t forget to do the math! Whether you’re renting, buying, or considering a shift from renting to buying, doing the math is critical. When you’re buying, there are living expenses that do not exist when you rent. So do the math – all the time. I’ll even advise to sometimes double-check and triple-check even the person that you’re relying on doing the math. Because if there are mistakes, guess who’s the one who’s going tosuffer the consequences?

A Get in front of the board and do your math! Alt text: A blackboard with some math written in chalk on it.

As long as you do the math, our job is to put you on the right path. However, we’re not mortgage brokers. We don’t know the ins-and-outs of a bank. We don’t complete the closing statements – attorneys do. Make sure that your agent knows this so that they don’t get themselves in a pickle or get you jammed up. Be careful, because these things can happen.

The advantages of buying instead of renting

Remember not to throw your money in a fire-pit! While renting is attractive, people usually have a problem with procrastination. And when we procrastinate, we burn our money in a fire-pit. This money could be serving us better in a better vehicle, and not in a rental. Of course, we don’t live in a world of absolutes and that’s not always the case. However, those of you who want to stop renting and start buying, put your plans together, come see me, and we’ll get you on the right path.

Of course, you can purchase your home through whatever real estate agent you want, but sometimes they’re only chasing the dollar signs. And sometimes it’s not that they want to chase the commission, it’s just that they have to. Personally, as there are big fees involved in this business, I want to make sure that everything is done in an honest and ethical way.

Financial and emotional security

Homeownership offers you lots of financial and emotional security. You won’t have to worry about the landlord selling his building for 10 billion dollars today. You’ll own your own home and the only time that it will get sold is when you decide to sell it.

Homeownership provides emotional support, as now you have a place to call home. If you decide to have a family or adopt a few furry friends – they now have a home too. And it’s not just a rental. It’s your home. So, you can have more than one animal if you’d like to. However, this doesn’t apply for those living in a co-op. Make sure to remember that co-ops are not real estate, not a real property. You’re basically like buying shares of a company.

Don’t get evicted!

Avoid eviction at all costs. Communicate with your landlords. Don’t forget that they’re people too! One day you’ll want to shift from renting to buying. And on that day, you’ll be glad that you don’t have any evictions on your record, no foreclosure, no bankruptcies. Things like that will only hurt you later. So, like I already said in this recap – do the math!

Visit your property three times, and check out the two areas that surround it

When you’re buying, make sure to visit three areas – the one you have your heart set on, and the two that surround it. At the speed that we’re changing and gentrifying neighborhoods, the neighborhood you don’t want to see today, may be the new up-and-coming neighborhood tomorrow. That’s why it’s important to also take a look at the areas surrounding the area you have your heart set on. 

B Visit the two areas that are next to the one you have your heart set on. Alt text: A man looking at the map, trying to find all the relevant areas.

Visit the property three times – during the midweek, during the weekend, and during the evening. And do your commute at least twice from where you’re thinking of buying. Your commute has a major impact on your quality of life. We want you to come home happy, not tired because of a nasty commute that you can’t take.

Buy within your means

Secure your financial pre-approval letters. Always buy within your means. The pre-approval letters may say that you qualify for a larger sum than you’re comfortable with, so please do the math! Factor in your homeowner’s insurance and all the tiny things you will need money for. Buy within your means and don’t worry – you’ll always be able to upsize later-on.

Choose an honest agent

Choose an ethical agent, someone who is transparent and honest. Someone who’s on your side, and not just looking to make a deal and close another sale. Not someone who only wants to put another notch on their real estate belt, but someone who’s looking out for you, someone who keeps reminding you to do the math.

C It is very important to choose an ethical, honest agent. Alt text: A featureless cartoon man holding a sign saying “Ethics”, and holding his thumbs up.

Similarly, you should also choose your movers carefully. They do break the loose items sometimes. So, be careful when choosing the professionals that can transport your household goods.

Hire local engineers and inspectors

Choose local engineers and inspectors when buying your home. It doesn’t matter if it’s in California or the Rocky Mountains, just make sure that you use someone local that understands the water, the cancer rates, who knows how to direct you in the right place. The inspector who knows what he/sheis looking for, so you don’t have a problem.

It’s like preventative medicine – an apple a day keeps the doctor away. Spend the extra couple of hundred dollars, because whatever you can preventwill save you money in the future.

Calculate for five years

Choose a home that can offer you 80 percent of what you actually need, and the place where you can stay comfortably for at least five years. The speed of the market here is about five years. People move because they’re chasing the jobs and the money. They need to be fluid. So, calculate for five years, and you can always upsize from there. 

Check your crime stats and your schools as well

Make sure to check your crime stats. We cannot tell you whether the area is safe or not. As we don’t want to break any laws, you should just check that on your own.

Pay attention to the schools as well. You should check with the local CEC, because there are a lot of zones being changed now. Some are being shrunk, some are being expanded, so if you really have your heart set on a particular school, check with the local CEC if they can help you navigate that.

Check everything before signing the contract

Make sure that you’ve done all of these things before signing the contract. Do your commute, visit the property three times, visit the three areas that I’ve mentioned in this recap, do the math… And don’t forget to read the rider! Sure, your attorney will read it and explain it to you, but you still need to be on top of it. Why? Because guess what – it’s your deal.

We looking forward to continuing to make our amazing informative videos.

When looking to buy real estate, make sure you accept all the help you can get. In this type of situation, it is very important not to have a: I know it all attitude. What does that even mean? It is quite simple. Nobody knows everything, so the same goes for you. The smartest thing you can do when buying real estate is to get informed as much as possible. Mainly do your research and engage professionals to help you. There are experts, many blogs, websites with useful tips, etc. that will also be a huge help to you. The same goes for our highlights. We are here to remind you of some things that are important when buying real estate. So, buyers beware of our highlights.

Highlight No. 1 –5 boroughs of New York

For some of us, New York is the center of the world. I like to say: What is there not to like about New York? It has everything that you can possibly imagine. However, there is life outside of 5 New York boroughs. When real estate shopping, consider Staten Island and Long Island. You might be pleasantly surprised. There are some gorgeous properties out there. Therefore, keep an open mind when browsing.

If you decide to stick to the boroughs, my recommendation would be to higher professional help when buying real estate. With that being said, the same will go for moving. For example, if you are located in Brooklyn, there are Flatbush based moving experts that are happy to help. It would be money well spent.

After you move to Staten Island, you might spend a lot of time on this ferry. alt text: Staten Island ferry passing the Statue of Liberty.

Highlight No. 2 – Flood Zones

Don’t be surprised. There are more than a few flood zones in New York. All of us want to buy and invest in real estate that is totally safe from natural disasters and harmful natural elements. Do yourself a favor and don’t look for such a place. It is a waste of time because it doesn’t exist. Instead, focus on hiring experts that will help you investigate such problems. In the beginning, it might seem like this type of investment is not needed. On the contrary, this would be a small (but useful) investment, compared to the damage that can be caused. Buyers beware, there are many things that you need to know when buying real estate.

Highlight No. 3 – Black Mold

Another detail you mustn’t forget is the black mold. Above all places, Florida must be the worst place for this problem. However, do not be fooled. It can be found anywhere. It is very common in basements. Basically, black mold can be found anywhere where water penetration is present. The same goes for moist paces.

It looks very ugly and nasty. This is a smaller problem, compared to the health issues that it can cause to you and your family. In truth, it is harmful to all. However, kids are more susceptible to it than adults. When buying a home with such a problem, you must insist on total transparency. Be persistent when looking into this issue, since it is a health hazard.

Highlight No. 4 – Hudson Valley

Hudson Valley is another spectacular place that you do not want to miss when real estate shopping or browsing. It has a very urban-suburban feel to it. In addition, there is so much wonderful nature to be enjoyed. However, it is not all picture perfect. This region is experiencing major issues with water pollution. This is by no means a persuasion not to buy in this region. Nevertheless, it is a reason to be cautious. This is the perfect time to hire local inspectors to determine the level of pollution. You do not want to put yourself nor your family in jeopardy. This is a type of problem that will be out of your control if you by mistake purchase a property exposed to such a problem.

Highlight No. 5. – you should hire locals 

Making the decision whom to hire during this process is not an easy task. You want to work with people that are loyal, transparent and truthful. Also, you want them to be knowledgeable and business savvy. In addition to all the mentioned characteristics, make sure your assistance is local. It doesn’t matter are we talking about a real estate agent, pesticide controllers, engineer, architect, home inspector, etc. You want them to be local because they are the best familiar with the problems that are spread through the local community. The same goes for movers and moving companies. If you are looking for reliable help in NY, visit dorothyandmarthamoving.com. If you have a moving problem, they will have a moving solution.

We should all do our best to prevent water pollution. Alt text: A hand picking up a plastic bottle from a river.

Highlight No. 6 – this might be the most important purchase of your life

If you are not a detailed oriented person, this is the time to start to be one. Realistically looking, majority of people get a chance to purchase their own home once in their life. Unfortunately, some never have the opportunity. Therefore, make every single decision carefully. There are no small or irrelevant issues when buying real estate. If you can afford it, by all means, hire professional help. Professionals in this field offer services that are expensive. This is very true. However, a bad investment will cost you way more.

Your greats feeling of accomplishment might be when you purchase your home. Alt text: A home key next to a board that states: sweet home.

For example, you decide not to hire a specialist, even though there is a possibility that there are leaks and similar issues with your future home. You buy the property without consulting a specialist in that field. Later on, the leaks become visible, under different circumstances. You will be stuck with much bigger expenses, then what you might have paid for a home inspection. Be careful, even if this wouldn’t be the first home that you bought.

We sincerely hope that our buyer beware highlights will help you in your future adventures. Remember, nobody knows it all, so ask for help. Look for honest and transparent professionals to help you go through this process. We wish you the best of luck with your future real estate purchase.

Using a highly ethical Real Estate Agent is critical in all Real Estate transactions choose wisely.

Tyler Vincent Real Estate Inc. “For All things Real Estate”.

Weekend Q&A

This weekend, most questions that came in were somehow related to credit reports. Many of you are concerned regarding some information that may arise when a landlord requests your credit report. However, as we will see later, there’s no need to be too worried. When the landlords take a look at your credit report, they do that simply to see whether you are who you say you are. And, there is not a lot that cannot be explained if you try. That is why the main thing to do when you’re applying for a rental is to be as transparent as possible. Here are some of the questions that came in regarding some issues with credit reports.

How can I get a full credit report?

This is a really good question. There are three major credit companies – Transunion, Experian and Equifax. You can get your credit report from them. However, there is also one important thing you should know. Namely, you are allowed one free copy of your full credit report every 12 months.

I highly recommend going online and requesting one. You would be surprised at how much information there is about you, what you do, where you’ve been, the debt you’ve had, etc. A credit report is actually a statement holding all the information about your credit activity and your current credit situation. A landlord might request your credit report to check whether you’re a trustworthy individual. And, just like your home, your credit report needs to be clean and organized. That is, just like you should declutter from time to time to keep an organized home, you also need to fix your credit report to open up new possibilities in the real estate sector.

Caption: You’re allowed a free copy of your credit report every year

Alt tag: Paper with words ‘credit report’ written on it

Why should I get a full credit report?

But, you may ask yourself – why should you get a credit report if the landlord will get one? Well, because we often forget things pertaining to our financial history. You don’t want to be blindsided with something that happened a long time ago, but you forgot. If there’s anything on your credit report that you need to clear up, you need to know about it beforehand. You should not just leave it sitting on your credit report.

Also, if there’s something in your credit report that you need to address, you can always talk to a realtor. They are professionals that deal with these types of things on a daily basis. You’d turn to other professionals when you need help in other areas, right? For instance, if you’re moving from Maryland to NY, you’d hire professionals to help you. Well, you should do the same with credit reports. Real estate agents can help immensely with presenting the situation to your possible landlord.

How can I overcome a previous eviction that still appears every time I apply for an apartment?

Evictions are fairly common, and, based on the market in New York, the situation might even get worse. But the main question here is – why were you previously evicted? Some people get evicted because they stop paying rent, but also, because they stop communicating with their landlord. However, that is not something you should do. There are ways you can work things out with your landlord if only you try to discuss it. Communication is key. So many people withdraw when they face a difficult financial situation. We don’t want to talk about it due to many reasons. But it’s necessary to find peace and tranquility in small ways, even in discussions about our past. So, never be afraid to explain your situation. We’re all human and we understand one another.

Try to fix the eviction records and be transparent about your credit report

Evictions take a while to come off, they’re almost like bankruptcy. You would have to contact the courts. You also have to contact an attorney that specializes in the matter to fix the issue.

But, take note, when you apply for a rental, always be transparent. Transparency, as well as communication, is pivotal. There’s no need to spill everything. But, this is something that the people involved need to know before they run your credit, that is, your background check. Mention it before you apply for a rental.

Also, write a letter to your landlord and explain the circumstances from that time. It will also give you the right to an interview with the landlord, where they can see if they want to take you on as a tenant. At the same time, your broker/real estate agent that you’re working with will be able to help you overcome the issue. So, the bottom line is – be transparent with the agent you’re working with.

Offer more security deposit

In addition, another good thing is to offer more security deposit. More money means more security for the landlord. Coupled with your honesty with the previous eviction, you will increase your chances of the landlord actually accepting you as a tenant. If your credit report is great, and the only thing holding you back is that one eviction, this is the way to bypass it. As long as everyone’s in the know, especially your realtor, they can navigate the problem. They can even suggest various solutions.

That is why it is a good thing to get help from an unbiased real estate agent. Again, if you’re looking for help in other spheres of life, why not in this one? At every point in life, it’s important to know who to turn to. You’d go to a bank if you need a loan. You’d ask your friends or hire professionals should you need some help with packing. Well, treat this issue the same. Real estate agents are there to help you get that apartment/house.

How can I explain my not-so-perfect credit report to a landlord?

First, before the credit report comes back, share possible issues with the agent that you’re working with. If you can explain something on your credit report, do it. Sometimes, a poor credit report is due to student loans or medical bills. And that’s alright. There are times that we need help and that is something that anyone can relate to.

This is when you need to write that letter. Outline it with your agent. If you have a history of paying in time and your current landlord is willing to write a verifiable reference letter, this will help immensely.

Your agent is key here. Be honest about your credit report and explain it before it’s run. If you have no idea that something will come up, make sure to explain it as soon as you can. Sometimes, we forget things that happened a while back. Make sure to let your landlord know that you’ve fixed the problem. That is, try to explain what your situation was back then and how you’ve moved on.

Life is a constant moving battle. The only way to move forward from problems such as these is to be true and transparent. Also, it is incredibly important to work with someone who is transparent and ethical.

The moral of the story is – let’s get everything out and you into your new home.

Contributing writer: Betty White

Renting to buying – Weekend Q&A

There were a few questions that rolled in this weekend’s Q&A section. Most of them have to do with switching from renting to buying. That is, how some details of the issue should be handled and what financing options exist. All these questions represent some of the major concerns of people looking to go from renting to buying.

Going from renting to buying is not an easy process. Actually, for many people, it can be quite daunting. However, you should be not dissuaded from moving forward because of a few glitches. Simply work at your own pace, try to find ways of crossing the hurdles and you’ll be in your new home in no time! Here are some of the questions that you posed.

What do I need to factor in when computing my monthly rent vs. my potential mortgage?

If you’re asking this question, you’re probably not sure if it’s prudent to switch from renting to buying. The most important thing here is to see whether the move pays off in the long run. Even though many online sources will claim that there are more advantages of renting compared to buying, there are also many that claim quite the opposite – that buying, in fact, is the way to go.

That is why it is necessary to get a one-on-one consultation. Having someone with an unbiased insight into the matter can be highly enlightening. This is particularly important if you’re trying to buy your first home. An impartial approach on what to do in your specific situation is crucial. Also, there are many specific needs that need to be met in your case when it comes to switching from renting to buying. That is why it cannot be done in any other way except looking at an individual situation.

Caption: It’s always best to get a one-on-one consultation

Compare renting to buying thoroughly

As it is, the issue of whether to switch from renting to buying includes calculating whether it is more affordable to buy in the long run. But, again, that depends on the personal situation. Some rents include heat and water, which is something that you will have to pay once you buy. In addition, on top of the mortgage payments and the interest rate, you will have to factor in real estate taxes, heat, gas, electric or water bills and everything that you spend on a monthly basis that doesn’t include food.

Make a list of everything that you pay per month, that is, your household expenses. This includes cable, heat water, gas, electricity and rent. Take your base net rent and add and compile from there. If you need further help, go to askimma.com or send a message through the Next Door app or social media. But, the main thing here is to make a list of everything that you spend a month that involves your home.

When you’re comparing renting to buying, don’t forget about the other costs that might occur during the moving process. If you put in effort and thought, however, you can definitely find an affordable and professional service. Go online and do research on the costs. If you need further help, go to jpurbanmoving.com and get informed about the value of an affordable trustworthy service. Then just add that to your equation.

What if I don’t qualify for a conventional type of loan? What type of mortgages can I get?

Actually, it doesn’t take much to qualify for loans. It is necessary to have good credit. That’s mainly because a lender does not want to deal with someone who has too much debt, as that can be a sign of unreliability.

However, nowadays some products are coming back to the market that require no income verification. They’re not quite the NINA loans from the past, but they are similar. Some lenders offer 65 loan-to-value (LTV) ratio, others allow it with a 30 percent down payment. If you have sufficient cash, even though you’re not sufficiently creditworthy, there are loans for you.

If you want to explore options, again, send a message and I can connect you with some efficient mortgage professionals. Or, we can discuss your mortgage people to see if they’re a good fit.

Caption: You can always talk to mortgage professionals

Don’t worry about conventional financing, there are out-of-the-box options, you just need to know where to go. You’re most likely to find that type of deals through a mortgage broker. They will find entities that are willing to take higher risks than the traditional banks. That’s where you have a good chance of getting a non-conventional loan.

I have 200,000 dollars saved, but my credit scores are not so good. I have no debt, but I have student loans. Can I buy a condo?

The best idea here is to keep your down payment in the 30 percent range, so as not to stretch all your consumer buying power. If you hit 30 percent down payment and have no other debt, no defaults, no foreclosure, no financial hardships, there’s not going to be a problem with the bank.

However, in general, student debt is viewed in a different way from regular debt, even when you’re renting. So, don’t worry if you have student debt. The important thing is to get a good agent that knows how to navigate around that.

In this case, the down payment is strong and the person who posed the question would be able to buy a condo. Once again, it is necessary to look at all the factors when considering a home purchase, that is, switching from renting to buying. Real estate is ever changing, so it’s important to see where you want to go and where you fit in.

For instance, should you decide to move to Manhattan from Brooklyn, take into account a variety of things. Yes, your down payment is strong, but the prices there are quite high. That is why you need to look at everything. The price of the condo, of course, and the height of the property tax, which is quite high in Manhattan, to name a few. And, always put everything to paper. Go online, do research before you consider everything, talk to a realtor. That is the only way to reach an informed decision.

Is it a good time to sell?

My most honest answer to that is – it is a good time to sell if that is the time you need to sell. Real estate is a cycle and it goes up and down. It is a living, moving and breathing market, and it fluctuates. Even though we are on a down market, that doesn’t mean it’s not a good time to sell.

Ask yourself why you need to sell. What is it that you need to accomplish by selling? If it’s just to test the market and see how high a number you can get, don’t do it. That would literally mean wasting people’s time. Professionals want to work with people who truly want to sell their property. However, if you’re actually considering the move, just deliberate on the situation and move forward gradually, at your own pace.

https://www.youtube.com/watch?v=oedt-o9U-Yk

One of the things you want to do while you are “living the American dream” is to purchase the home of your dreams. If you are one of the people who are thinking of buying a home, the steps to buying real estate property might seem a little bit confusing and complicated. Things like property taxes, negotiation with sellers, mortgage rates and closing the deal can easily feel overwhelming. So, today we will talk about what it takes for you to buy your new home. There are 3 simple steps to buying real estate, so, let’s start!

3 Simple Steps to Buying Real Estate created by Imma Giocoli.

Switching from renting to buying might sound scary at first. However, if you have a stable job and some money saved up, you can start thinking of buying a property. Whether it is an apartment or a house with two or three bedrooms, buying a property is one of the biggest purchases that you are going to make in your life. Some people feel comfortable renting and they are not ready to get out of that comfort zone. However, if you have a lot of questions related to real estate, contact a professional real estate agent like Immacolata Imma Giocoli Broker and Owner of Tyler Vincent Real Estate and get your answers. Now, let’s see what the 3 simple steps to buying real estate are!

• Making a Decision
• Making a Commitment
• Executing the Plan

Making a Decision

The first step is to make the decision of switching from renting to buying a property. As we have already said, if you have a stable job with a good monthly income, you should start thinking about buying a property. Even though you are feeling comfortable renting, your landlord can decide to sell the property one day, so you will be forced to move out. On the other hand, most people like to be mobile. However, knowing that one day they will have their own property is something that most people dream about. So, check out the tips for buying your first home! Read this guide thoroughly because it will help a lot!

Keep renting or buy a home? If you cannot make this decision, it is highly recommended to contact a real estate agent!

Making a Commitment

If you have made the decision and realized that buying a property is something you want to do, congratulations! First, in order to buy a property, you will have to make a down payment. You can make a down payment with the money you have saved up, or you can ask for a loan from the bank. Since you have a stable job with a good monthly income, you won’t have problems to get a loan.

Other than that, making a commitment means that you are fully aware of the monthly costs that you will have to pay in order to keep and own property. To make everything easier and feel more comfortable with buying real estate, you should calculate all the costs in advance. You will feel more comfortable if your mortgage rate costs the same as your monthly rent.

In addition, if you are ready to invest more money and buy a huge house for your family, check out some tips for buying a luxury home! Don’t forget to visit ASKIMMA on youtube.

Steps to Buying Real Estate – Executing the Plan

If you have calculated your monthly costs, mortgage rate, taxes, utilities, etc., and you feel safe and comfortable with this, it is the time to execute the plan. With the help of a good real estate agent who will give you suggestions and advice about your property and payment plans, you will own the property in a short time! Executing the plan means that you are ready to take the final step – moving into your new house!

When it comes to moving, hiring a professional mover is the best solution. Also, finding a good mover is difficult, but if you have a good real estate agent, they will help you and point out to you where to find a professional and reliable one. In addition, if you are moving for the first time and you don’t know how and where to find a good mover, check miamimoversforless.com and get informed about the moving company and the moving services that they can provide for you.

If you have got the loan from the bank and you have put the down payment, you are ready to execute the plan and move into your lovely, new home!

Hire a Professional Moving Company

Whether you are moving to another city or overseas, you will need a professional moving company to assist you with your move. They will pack and relocate all your belongings fast and safely. Every professional mover has a license and well-trained workers. Having years of experience in the moving industry makes them professional and trustworthy. A professional mover has plenty of moving services and they are always ready to help their customers. Services that a professional moving company can provide for you are:

• Excellent communication with their clients
• Packing and proper labeling
• A wide pool of moving trucks
• Security, safety and moving Insurance
• Unpacking and recycling
• Storage units/solutions
• Special services (moving bulky and heavy items, such as a piano or home safe, long-carry and stairs services, etc.)

Every professional mover will try their best to fulfill the expectations of their clients!

You can save money when moving by picking the right movers, but also if you move during the off-peak days. Try to hire a professional mover during the days when they are not in high demand. If you want to save up some money, hire a professional mover on weekdays, mid-month days or in the winter season!

Arriving at your New Home

Even though arriving at your new home will be one of the best days of your life, you should think of the things you have to do before you get to your destination. Don’t forget to transfer your bank accounts. Cancel or transfer your cable tv, internet, and other bills. Also, you should search for a new school for your kid and transfer their last report card. Don’t forget to transfer your medical record and pick a new family doctor, too.

These were the 3 simple steps to buying real estate!  If you have some additional questions, you should contact your Imma Giocoli immediately.  We wish you all the best! Enjoy the future in your lovely new home!

Is living in New York something you’ve always dreamed about? Well you’ve just joined a group of millions of other people with the same desire. But what is that which draws so many people to find their spot in this city and have a new beginning? The answer is both simple and not because each person is attracted by something different. And while it has so many things to offer, those who are planning to move here need to be aware of the fact that life in The City costs a lot. And as renting in NYC can be pretty much stressful, we’ve decided to give you a couple of tips to help you out.

Be prepared for a thorough search

Renting a property is not just choosing a house or apartment based on their inner or outer appearance. It is so much more than that. When you are deciding where you are going to live, you need to look the situation from many different angles. Seeing all aspects of your moving in, especially if you are coming to NY from another town will really help you have a better perspective. You see, New York is nothing like the cities you’ve even been to. It has a unique personality, and rules are different here. So, if you’re used to the small-city vibe, you may need a little more time to get used to the circumstances around here. And that also applies to the search of an appropriate housing in NYC.

Know what you are paying for

Let’s imagine that you’ve found an apartment you wish to move to. The next step is defining what is meant by your monthly rent. What exactly does it cover and if there will be any additional fees? These are questions you will have to talk through with the landlord directly.

Quick tip: Do not sign any papers until all the items on it are sufficiently well explained. This is also one of the most important rules in case you wish to buy an apartment in NYC.

Some landlords require from their tenants to pay for gas and electricity, whereas heat and water bills are included in their monthly rent. However, these things depend from a landlord to a landlord. This is why it is very important to make this clear with them before you sign the contract.

Questions about the lease

Another important aspect of renting in NYC is the question about the lease terms. Usually, landlords will offer you one or two years of lease. Which option will suit you better will depend on the conditions the landlord offers? The biggest advantage of a two-year lease is that the rent will stay the same for both years. Or, the rent will be increased by the end of the year and that is something that has already been predetermined and pre disclosed.

All in all, you need to be familiar with the situation because only that way will you be able to decide which way to go.

Being a good tenant is of great importance

One-year lease is valid only for a year time. After that you will have to wait for the landlord’s decision about your future status, whether you’ll remain to be a tenant or will you need to start looking for a new apartment.
For many, a two-year lease is a better option when they are sure they want to stay in some place for a longer time. But for that to happen, you will need to fulfill one of the most important requests and that is that were a great tenant. The one no one complained at, and who never caused any kind of trouble but was always on time with paying the rent and obeying the rules.

Figure 3It is important to be an exemplary tenant Altag: Good feedback

Does your budget support the rent?

When you start looking for a property, that is when you need to be absolutely informed about your credit score and the budget limit. Statistics show that there are a lot of people who fail to understand that one of the deciding factors for getting the approval is to know their credit score. What is more, this information could be simply obtained if you just pay a visit to your bank. It will take you just a little to get every information you need. With that, you can apply. Some landlords will require at least 40 times the rent of your monthly income. But as this is something that vary from landlord to landlord it will need to be further investigated.

On the other hand, it is well-known fact that rents in New York are much higher than in the most other major cities in the US. However, this should not discourage you from looking for an apartment/house to rent. For instance, moving in the Brooklyn area usually turns out to be the most convenient option when all parameters are included. So, why wouldn’t you take a look at this borough and get more for your money?

What if you have a pet?

This turned out to be a big issue with many people who are renting in NYC for the first time. However, the answer to this question is simple. If you want to rent an apartment for longer time, you will have to tell your potential landlord about it. You cannot hide the pet hoping it will go unnoticed. What you can do is to offer pet security deposit. Also, offer the Rider which will cover some damages made by a pet such as tearing or chewed. Also, be aware that the pet gets the residency in NYC after thirty days.

No matter how long you will be renting in NYC, it is truly important to be completely honest with the landlord as mutual respect is more than necessary. Every issue can be solved and every question can be answered, but for the good start make sure that you show respect.

AskImma Giocoli Broker – Owner of Tyler Vincent Real Estate Inc. She WILL get you moving !

By: Betty White

Tips for buying a luxury home

Buying a luxury home isn’t something that you can do on your own, without the right real estate agency like Tyler Vincent Real Estate by your side. You should make sure to hire a real estate agent that is local and knows NYC if you want the proper advice and guidance.

Just because you have the means and opportunity to own something extravagant, like a luxury home, doesn’t mean that you should be reckless. On the contrary, in order to stay successful, you should be even more cautious. Assuming you want to have smart investments, you should do thorough research before deciding on which expensive home to buy. Buying a luxury home has more variables and it’s a little more complex than buying a regular home. However, with the proper help of a reliable real estate agency, you will get to your goal rather stress-free.

We talked to Imma Giocoli, located in Carroll Gardens, to help us with our top ten tips for buying a luxury home. She is a real estate broker with more than 15 years of experience in this business. So, this woman is someone who knows everything there is to know about real estate and whose mission is to make your dreams come true while maximizing your investments. Imma knows that information is priceless, and consultation is free, so she makes sure to be at clients’ disposal every step of the way. That is how she obtained a huge base of loyal and satisfied clients who recommend her whenever someone needs a good broker.

And here are the tips:

1. work with a local expert,
2. think about location,
3. drive time,
4. don’t rely only on photos,
5. inspection of the home,
6. taxes and insurance,
7. utilities,
8. mortgage,
9. document everything,
10. negotiate.

Work with a local expert

Firstly, you won’t be able to find those kinds of houses or apartments on the Craigslist. You need a realtor with personal connections to get in touch with sellers. Mainly because people who sell those properties don’t want everyone to know that. Only the chosen ones, those with good connections, like Imma Giocoli. It is a thing of security and caution. The owners want to avoid curious people walking around their home just for entertainment. They need only serious potential buyers. That’s why they rely on mouth to mouth advertising. If you are buying a luxury home, you want to be the one to get the word. And a local expert real estate broker can get you that.

Think about location

You can’t see luxury homes everywhere, just in some parts of cities. However, working with a local expert will help you find out if there are some other parts of the city on the rise, says Imma. Make sure to follow your checklist with priorities to automatically exclude some neighborhoods and include other locations. It’s unreasonable to expect that you can find a house with a golf course in the backyard in Manhattan or Brooklyn, right? Or, if you are moving from a big house in the suburbs to a Manhattan penthouse, can you expect the new place to fit everything you own? Even if you hire the best possible moving company, like DA Moving NYC, you have to make peace with the fact that there just isn’t enough space to fit everything. No matter how well they pack it. That’s why location is so important.

Drive time

This is closely connected with the location. If your work requires you to be close or you have to move fast, think twice if it’s a good idea to move to the suburbs, where the big houses usually are. You will probably have to limit buying a luxury home to places closer to your work.

Don’t rely only on photos

Some houses are just not photogenic enough. Others are too retouched on the photos. That’s why you should trust your broker when she tells you that something is worth the visit. You should also use different sources, like Google Maps or Street View, to see what is around your potential new home.

Inspection of the home

Trust Imma Giocoli to hire unbiased inspectors before you close on the house. When they are in a hurry, people tend to skip this step. They see that the property is new, so they hire a reliable moving service to move household goods in no time and start living there as soon as possible. But not one serious real estate broker or agent will let you buy any home, let alone a luxury one, without prior inspection.

Taxes and insurance

A pretty obvious fact that people sometimes forget about. The larger and more luxurious home you purchase, the more money you will have to set aside for taxes and insurance fees. Have in mind those additional costs when buying a luxury home, because they affect your budget directly. Also, if you are a first-time buyer of a new home, look at some real estate trends. You’ll know what to expect in the near future.

Utilities

Just as your taxes and insurance will increase, the same goes for utility bills. If you haven’t lived in a big place before, you can expect an enormous rising of every cost you have to pay. Imagine what water bills look like when you suddenly obtain a pool. Not to mention the electricity and gas costs.

Mortgage

The first thing Imma advises her clients is to get the preapproval of the mortgage. Sometimes, even the owners demand to see the preapproval before they let you see the real estate. If you are buying a luxury home with cash, great! But if not, before you even start shopping, get the preapproval of the mortgage.

Document everything

Even when you are buying kitchen appliances, it’s advised to save receipts. When you are buying a luxury home, you need to document every transaction, deal, and contract. Also, to make copies for backup. Don’t rush things and trust your real estate broker when she or he tells you to wait for some document.

Negotiate

A real estate agent is someone who is on your side and does things only in your best interest. They are obligated to do so by law, but Imma adds that a moral code is equally important. So, listen to her when she tells you to find a broker that you can trust and then let them do the magic with negotiations. As you can see, buying a luxury home is a pretty serious project to take on, but with the right people on your side, you will handle everything successfully.

Close and Move In:

The final step of the process is closing the deal, once we have arrived at the end of the negotiation and financing process we are cleared by the lender to close. On the closing day be prepared to spend an average of 90 minutes sometimes less sometimes more, to finally get the keys to your new home.

I always recommend to get a good night’s rest, relax and be prepared to ink a lot of paperwork,

But once the its all over you will be handed your keys and you are free to move in, renovate , change the locks and get to sending out your I just moved cards 😊 or allow us to handle that for you as a closing gift.

Meta: Are you buying a luxury home? That is not an easy task. So, make sure to get some tips and the professional help of a real estate broker.

Key word: buying a luxury home.

By: Betty White