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I am an expert in tarrytown residential real estate and know this area like the back of my hand. Please let me know how I can assist you.

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I am a Tarrytown, NY expert in apartment and home real estate transactions. I know this area like the back of my hand. Please let me know how I can assist you.

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6 Tips When Purchasing An Apartment in Tarrytown, NY

Buying your apartment in Tarrytown, NY is a unique experience. Each location usually has special considerations. Have a look at my 6 important tips to buying in Tarrytown, NY.

#1. Where To Live

Most important is, where you will want to live. What part of the village best fits your lifestyle? How far do you want to commute to work? Is shopping nearby? must it be a walking town, what should you put on your wish list? Are you a hiker or cyclist? Do you need recreation space? Be specific!

#2. Meet With A Loan Officer

Meet with a loan officer or financial advisor to determine your affordibility. You will need to be pre-qualified for a mortgate. You will be asked about your income and debts. Have that information available upon your first visit. figure out what will happen after your apartment purchase. You never want to be house poor. Do you plan to have children in the not-so-distant future? A mortgage person or financial planner will advise you on how much you can afford to spend now, but he won't know what is going to happen to your life in the future. If you can pay less for your first apartment than you can afford, you'll have money left over for your savings.

#3. Interview Real Estate Agents

You will want to find a real estate agent. One who is familiar with the market. They should negotiate for you in order to get the best possible price for the apartment and will complete the stacks of paperwork involved with the purchase. Make sure you look for an agent who will represent you as the buyer, and not the listing agent, you met at an open house, whose fiduciary responsibility is to the SELLER. Remember, it is always the seller who pays the commission to both agents, therefore, it is most important to work with a buyer's agent.

#4. Think About Your Offer

Your realtor will write an offer on your behalf once you've found a property you're interested in purchasing. She can help you determine a fair opening bid and remind you of any extra amenities that you may ask to have included. Your agent will discuss whether you need to include any contingencies, making your offer dependent upon securing an acceptable mortgage asa well as a home inspection. After it is complete your offer will be sent to the seller's agent, or to the homeowner if he is working without an agent, ask to be kept informed about any negotiations.

#5. Consider All Costs Involved

Be sure to ask what the actual cost is to buy your apartment. Often 1st time home buyers are aghast to learn that their initial purchase is going to involve more than the down payment. Ask your loan originator to prepare a "good faith" estimate which will include all fees pertaining to the purchase. Inspection, loan-origination, up-front points, application fees, title search and title insurance, homeowner's insurance, recording fees, appraisal fees and attorney's fees. These fees can add 3 to 8 percent to the final purchase price.

#6. Find Out About Ongoing Costs

Ask to see copies of the previous homeowner's utility bills, property taxes, repair bills, insurance and bills for services such as trash disposal. Ask about the cost of any home association fees you may have to pay. Don't forget to figure these expenses into your monthly budget.

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Mortgage News Daily

  • Permit to Completion - Builder Timeline Depends on Where and Why

    Posted To: MND NewsWire

    Despite complaints about labor, lot, and material shortages, builders needed no more time to build a home last year than they did in 2016. The time did increase compared to 2015 by about two weeks. Using data from the Census Bureau's Survey of Construction (SOC), the National Association of Home Builders (NAHB) concludes that the average time to build a single-family house was 7.5 months. The actual building time was about 6.5 months following a typical delay of around 30 days after the permit was authorized. Data from the 2015 survey showed the time from permit to completion at 7 months. The range however is wide, from less than a month to more than 6 years. Much depends on who is building the house, for what purpose, and where. , writing in NAHB's Eye on Housing Blog, says that houses built...(read more)

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  • MBS RECAP: Bonds Gain Despite Data Surprise and Stock Rally

    Posted To: MBS Commentary

    Before any discussion about market movement in July, we have to set the stage with some disclaimer about "slow summertime trading." That was the subject of this morning's commentary ( read it here , if you like). With that out of the way, we're equipped to pay the appropriate amount of attention to today's seemingly interesting events. First up, we had a reasonably strong move in European bonds overnight help set a mildly positive tone for the start of domestic trading. The biggest volume spike of the early morning came at 8:30am in response to the Import Price data, which came in much lower than expected. Bond yields/prices, themselves, only moved a bit, however--a fact that likely reflects the nearness of yields to the lower end of their prevailing range. The other notable...(read more)

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  • Lowest Rates Since May, But There's a Catch

    Posted To: Mortgage Rate Watch

    Mortgage rates fell by an observable amount today-- one of the few times they've done so in recent weeks. Technically, today's average lender is offering the best we've seen since May 31st. That sounds pretty great, right?! Unfortunately, there's a fairly big catch. While today's rates are indeed the best in a month and a half, the range during that time has been so excruciatingly narrow that most prospective mortgage borrowers will find the distinction fairly meaningless. In almost all cases, the actual NOTE rate at the top of your loan quote will be the same as it has been for weeks. The only change in lenders' rate sheets is in the upfront cost associated with that rate. In other words, if you'd seen a quote of 4.75% with 0 points yesterday, today's quote would be more like 4.75% with a...(read more)

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Bonnie Koff  |  Licensed Associate Real Estate Broker  |  William Raveis Legends Realty Group  | Tarrytown Office 
914-332-6300  |  37 Main Street, Tarrytown, New York 10591  |  Email