Posted by RitasEngaged
also factor in your closing costs which is like 10-15k![]()
Posted by stinenandy2010
Posted by RitasEngaged
also factor in your closing costs which is like 10-15k![]()
when negotiating you should request that the seller pay for some of your closing costs....I got my seller to pay for the whole thing, so I didn't have to go to closing with any money!
Posted by stinenandy2010
Posted by RitasEngaged
also factor in your closing costs which is like 10-15k![]()
when negotiating you should request that the seller pay for some of your closing costs....I got my seller to pay for the whole thing, so I didn't have to go to closing with any money!
You need 20 % to put down plus all the closing fees!!
Posted by RitasEngaged
Posted by stinenandy2010
Posted by RitasEngaged
also factor in your closing costs which is like 10-15k![]()
when negotiating you should request that the seller pay for some of your closing costs....I got my seller to pay for the whole thing, so I didn't have to go to closing with any money!
ITA - With co-ops my closing cost was practically nothing so i didn't care plus my parents gave us that
also to queens has like no taxes so would make you closing costs low
Posted by FutureMrsSoltan
Posted by stinenandy2010
Posted by RitasEngaged
also factor in your closing costs which is like 10-15k![]()
when negotiating you should request that the seller pay for some of your closing costs....I got my seller to pay for the whole thing, so I didn't have to go to closing with any money!
i just heard about this too. sometimes i watch those shows on tv like house hunters and stuff and they always say try to get the seller to cover the closing cost
Posted by stinenandy2010
Posted by RitasEngaged
Posted by stinenandy2010
Posted by RitasEngaged
also factor in your closing costs which is like 10-15k![]()
when negotiating you should request that the seller pay for some of your closing costs....I got my seller to pay for the whole thing, so I didn't have to go to closing with any money!
ITA - With co-ops my closing cost was practically nothing so i didn't care plus my parents gave us that
also to queens has like no taxes so would make you closing costs low
taxes are basically half of your closing costs, everyone pretty much ends up paying about six months worth of taxes, so definitely look at how much they are when your house hunting....and remember if the sellers are really old, your taxes will be higher bc they get all these awesome incentives that lower their taxes. the woman we bought our house from, her taxes were $800/year!!!! now my taxes are around $4k, which is still good, but no $800.
Posted by alli3131
Posted by FutureMrsSoltan
Posted by stinenandy2010
Posted by RitasEngaged
also factor in your closing costs which is like 10-15k![]()
when negotiating you should request that the seller pay for some of your closing costs....I got my seller to pay for the whole thing, so I didn't have to go to closing with any money!
i just heard about this too. sometimes i watch those shows on tv like house hunters and stuff and they always say try to get the seller to cover the closing cost
In NY the sellers almost never cover the closing costs. I watched all those shows and and thought it was standard.....Not in NY....most sellers will laugh at you if you even ask.... jsut went through all this
Posted by FutureMrsSoltan
Posted by stinenandy2010
Posted by RitasEngaged
Posted by stinenandy2010
Posted by RitasEngaged
also factor in your closing costs which is like 10-15k![]()
when negotiating you should request that the seller pay for some of your closing costs....I got my seller to pay for the whole thing, so I didn't have to go to closing with any money!
ITA - With co-ops my closing cost was practically nothing so i didn't care plus my parents gave us that
also to queens has like no taxes so would make you closing costs low
taxes are basically half of your closing costs, everyone pretty much ends up paying about six months worth of taxes, so definitely look at how much they are when your house hunting....and remember if the sellers are really old, your taxes will be higher bc they get all these awesome incentives that lower their taxes. the woman we bought our house from, her taxes were $800/year!!!! now my taxes are around $4k, which is still good, but no $800.
DAMN !!! I never knew that
Posted by stinenandy2010
Posted by alli3131
Posted by FutureMrsSoltan
Posted by stinenandy2010
Posted by RitasEngaged
also factor in your closing costs which is like 10-15k![]()
when negotiating you should request that the seller pay for some of your closing costs....I got my seller to pay for the whole thing, so I didn't have to go to closing with any money!
i just heard about this too. sometimes i watch those shows on tv like house hunters and stuff and they always say try to get the seller to cover the closing cost
In NY the sellers almost never cover the closing costs. I watched all those shows and and thought it was standard.....Not in NY....most sellers will laugh at you if you even ask.... jsut went through all this
my parents just bought a summer home out east and got $5k towards closing costs.....it all depends on how eager the seller is to close.
Posted by dfw343
20%
closing costs for house are more expensive vs a condo/co-op..
like my closing costs were 5k
Fh (when he bought house) was 10k
In some closing costs on co-ops, you have to pay a flip tax..that's the co[op's way fo making more money in their reserve fund (that's like a savings for repair fund).
FM me with any questions..I did all my stuff myself and learned A LOT!
My FH and I bought a house this summer. We had 20% to put down but then it would have wiped out our whole savings....so we decided to only put 10% and pay the pmi. The monthly payments are only about $25 more even though we put 10% less down and you can put more money towards the principle a month and get rid of the pmi more quickly.
Posted by MrsHandsome2Be
Posted by dfw343
20%
closing costs for house are more expensive vs a condo/co-op..
like my closing costs were 5k
Fh (when he bought house) was 10k
In some closing costs on co-ops, you have to pay a flip tax..that's the co[op's way fo making more money in their reserve fund (that's like a savings for repair fund).
FM me with any questions..I did all my stuff myself and learned A LOT!
the flip tax for our co-op has to be paid when sold... so the seller is responsible for flip tax now when we are buying & we would be liable for it when we sell
Posted by MrsHandsome2Be
we were originally going to get a house as well.. but with paying for the wedding ourselves we would never be able to do both.. mortgage.. taxes.. bills.. & everything that comes along with a house
we decided to get a co-op instead.. whatever money we put into it is still ours and when we want to move we can sell it.. rather than paying to rent with no equity when we leave ... we figure we'll stay in the co-op 5 years and whatever we make off of it when we sell will be our downpayment for a house
most co-ops require 20% down (what we had to put).. some other ones in the area we are going to actually wanted 33% (crazy IMO)
but yes.. anything less than 20% down you will have to pay a PMI
good luck!!
Posted by MrsHandsome2Be
Posted by dfw343
20%
closing costs for house are more expensive vs a condo/co-op..
like my closing costs were 5k
Fh (when he bought house) was 10k
In some closing costs on co-ops, you have to pay a flip tax..that's the co[op's way fo making more money in their reserve fund (that's like a savings for repair fund).
FM me with any questions..I did all my stuff myself and learned A LOT!
the flip tax for our co-op has to be paid when sold... so the seller is responsible for flip tax now when we are buying & we would be liable for it when we sell
Posted by dfw343
Posted by MrsHandsome2Be
Posted by dfw343
20%
closing costs for house are more expensive vs a condo/co-op..
like my closing costs were 5k
Fh (when he bought house) was 10k
In some closing costs on co-ops, you have to pay a flip tax..that's the co[op's way fo making more money in their reserve fund (that's like a savings for repair fund).
FM me with any questions..I did all my stuff myself and learned A LOT!
the flip tax for our co-op has to be paid when sold... so the seller is responsible for flip tax now when we are buying & we would be liable for it when we sell
yeah but some the buyer does, depends on co-op..like mine, the seller does, this other one I was going to buy, the buyer does...I think it should always be the seller so they can incorporate that in selling price...
