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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

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    Posted To: MBS Commentary

    Early in the month (Feb 5th), bonds had their best day of the year as they soaked up a mere fraction of the cash that was fleeing from equities markets and looking for a safe haven. There was no such rout in stocks today, but bonds managed to put in a rather respectable performance nonetheless. Granted, it was nowhere near the same scale as the Feb 5th rally, but it was the best day of the year apart from that. Early gains came courtesy of an ongoing rally in European bond markets. German Bunds are now back at yields not seen since late January . At that time, US 10yr yields were in the low 2.7s. The domestic session got a boost from NY Fed President Dudley, who not only refuted a just-released white paper labeling the Fed's bond buying as largely ineffective, but who also commented on...(read more)

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  • Best Week of 2018 For Rates (Not Quite as Cool as it Sounds)

    Posted To: Mortgage Rate Watch

    Mortgage rates fell again for the second straight day--something that has only happened a few other times so far this year. On an even brighter note, this was the first week of 2018 where the average lender ended the week offering rates that were at least as good as those seen at the end of the previous week. In most cases, today's rates are right in line with those seen last Friday. For the average lender, that means conventional 30yr fixed rates of 4.5 to 4.625% on top tier scenarios. The same scenarios were seeing quotes of 3.875-4.0% at the beginning of the year. As we discussed yesterday, "good days" for mortgage rates need some context at the moment. Yesterday was a good day too, but it happened to follow the worst day in more than 4 years (in terms of outright levels). In general, as...(read more)

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  • Foreclosures, Inventories Move Higher as Hurricane Moratorium Ends

    Posted To: MND NewsWire

    The effects of last summer's hurricanes, while fading from their early impact on loan performance stats, are still being felt. Black Knight reports, in its "First Look" at January data, that past due mortgages nationwide declined by 8.6 percent or 210,000 loans when compared to December but are still 1.3 percent higher than in January 2017. The U.S. delinquency rate in January was 4.41 percent including all past due loans not yet in foreclosure. Hurricanes Harvey and Irma are blamed for 146,000 loans that remain delinquent in Texas and Florida. Of those, 132,000 are now seriously delinquent, that is 90 or more days past due Puerto Rico is not usually included in national delinquency statistics, but Black Knight says 57,000 loans remain delinquent in the territory because of Hurricane Maria...(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