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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

    Bonds surged to significantly stronger levels in the presence of the Fed Minutes today. Any time we see strong gains on a day with a Fed release, chances are the Fed is behind the move. Incidentally, that's NOT the case today (spoiler in the headline, I know). So how did Europe trump the Fed in terms of bond market impact? In short, this is all about Italian political drama. The two anti-Eurozone parties who are forming a coalition government in Italy are waiting for confirmation of their staffing choices from the Italian prime minister (yeah... things work differently over there). One of the picks had previously referred to the Eurozone as a noose around Italy's neck. It's not overboard to consider this political regime as potentially pushing Italy away from the Euro. That's...(read more)

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  • Mortgage Rates Drop to Lowest Levels in 2 Weeks

    Posted To: Mortgage Rate Watch

    This week hadn't been too traumatic for mortgage rates through yesterday afternoon, but neither had it been positive in any noticeable way. That changed today as rates fell abruptly to the lowest levels since last Monday. Granted, at the time, last Monday's rates were still pretty close to the worst in 7 years, but the point is that we've managed to find our way back from the even higher rates that followed. Help came chiefly from European political developments where Italy is a day or two away from confirming a government that could end up pushing the country out of the Eurozone . Even though that's far from guaranteed, the mere risk of such a thing is enough to drive investors toward safer haven bonds like those issued by Germany or the US. In general, excess demand for bonds means rates...(read more)

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  • Houses Passes S2155, Unwinds Less of Dodd-Frank Than Hoped

    Posted To: MND NewsWire

    The House of Representatives passed a sweeping overhaul of regulations included in the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act on Tuesday. Senate Bill 2155, which passed the upper house in March, received a 258 to 259 vote in the House. It now goes to the White House for what is expected to be certain presidential approval. The bill did not go nearly as far as the House had hoped in rolling back Dodd-Frank. Leadership agreed to vote on the compromise bill negotiated in the Senate between Republicans and Democrats only after a promise of a vote latter this year on other changes House members, especially House Financial Services Chair Jeb Hensarling (R-TX) were demanding. According to Bloomberg, the legislation gives smaller banks relief from post-crisis rules that they...(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