How To Evaluate and Hire a Property Manager
January 27th, 2010
Follow the link to learn about they Key Aspects to Consider When Hiring a Property Manager:
How To Evaluate and Hire a Property Manager (pdf file)
The Process and Paperwork Needed To Rent an Apartment
September 30th, 2009
The Process and Paperwork Needed To Rent an Apartment
Once you have found an apartment you like, you will want to put a deposit down (which is usually non-refundable if you change your mind so be sure you want it) so that you don’t lose the place to someone else.
Here is a list of items you will probably need, depending on the Landlord, in order to Rent an Apartment. You want to get this paperwork together before you start searching too so that you will be prepared and have a better chance of getting the place you really want.
1. A valid photo ID (driver’s license, passport or other US Government issued ID)
2. A copy of the first two pages of last year’s tax return or W2 form.
3. A copy of your last two pay stubs.
4. A copy of your last two bank statements.
5. A letter from your employer stating your salary, position and length of employment, on company letterhead.
6. A copy of your real estate tax, school tax, water/ sewer bill, copy deed, or mortgage statement if you are a homeowner.
The Broker or Landlord will run a credit check for each applicant and there is usually a non-refundable fee for that, usually around $40 to $80 per person.
Of course, you will have to fill out a Lease Application additionally.
Some Landlord’s require 2 months security deposit.
The first month’s rent and security deposit should also be readily available since the money will be necessary at the time of the lease signing.
What if you don’t have income or have cash income and can’t document the amount you make?
If your income doesn’t equal 40x the monthly rent being charged (and it has to be documented income), then you will need a Guarantor.
The Guarantor (your mother or father or other family member usually) will also need to provide the above paperwork and must make 80 times the monthly rent.
If you know up front that you can’t document the required income, then it is best to gather all the information up front and have it ready to go so that you can jump on the place that you want.
davidleiter Categories: Forms, Owners, Property Management, Renters Forms, Guarantor, Owner, Property Management, Renter
How to Sell Your Home For a Good Price in a Buyer’s Market
September 30th, 2009
How to Sell Your Home For a Good Price in a Buyer’s Market
So how do you sell your home when market forces are against you? There are a lot of properties for sale, and Buyers know it and they want a deal.
This presents a problem for a seller, but it’s not the end of the world and you can still get a good price by marketing your property correctly.
First thing we have to do is accept that the Bull Market in Real Estate is over.
You need to be realistic and accept this fact. That being said, we can still do things to get a good price.
Ask yourself this and do the research to answer these following questions.
Read more…
A Complete Guide to Closing Costs
September 8th, 2009
Attached you will find a complete guide in PDF format of closing costs commonly associated with the purchase or sale of Co-ops, Condominiums and Townhouses.
davidleiter Categories: Buyers, Closing Costs, Front Page, Mortgages, Refinancing, Sellers Buyers, condominiums, coops, Mortgages, Refinancing, Sellers, townhouses
Guarantor Form
September 8th, 2009
If you are renting an apartment, and you don’t have the documented income that equals 40-50x the monthly rent, you may require a guarantor form. This form (attached) must be notarized and an original copy must be provided to the Landlord.
Click here to download: Guaranty of Payment and Performance Form Read more…
How Long Does the Buying Process Take and What is Involved?
September 8th, 2009
That question is answered in the attached PDF file.
Click here to download: A Timeline For Buying Your New Home
The Basics and Differences Between Co-ops and Condominiums
September 8th, 2009
Everything You Wanted to Know About Getting a Mortgage-26 min audio
June 18th, 2009
You asked, and we listened! Here is a complete interview with Yossi from Manhattan Mortgage covering many (if not all) of your questions about getting a mortgage for a house, condo or coop in this market. This is truly great information, but if you need more help, contact our friend Yossi at 917-572-2124
davidleiter Categories: Buyers, Closing Costs, Mortgages, News, Refinancing, Repairs Buyers, Closing Costs, Credit Scores, Mortgages, Points, Refinancing
Transfer tax information for residential closings including mansion tax
June 16th, 2009
Download this attachment for complete residential transfer tax costs including the “mansion tax” for New York State.
Mortgage tax information for residential property purchase & refinance closings
June 16th, 2009
See the attached form for complete mortgage tax information for residential properties in New York State.
davidleiter Categories: Buyers, Closing Costs, Mortgages, Refinancing Buyers, Closing Costs, Mortgages, Refinancing
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