Fake Information That Hurt Buyers and Agents Relationships
Hello Everyone , Today Topic is about a Saying I have hear through out my Real Estate Career All 14 Years . I always want to talk this because this always bug me . At a time in my life this saying came from Real Estate Agent who I respect until they said this saying . I still love them so If your reading this I still love you all but I just put in the top sale person ranking
I just think this Say “Buyers are Liars” Really can hurt your Business . I never understood How the Real Estate agent saying this didn’t see How it hurting their Business . They( agents ) themselves are Buyers . Maybe not a House every day but they purchase needs and wants weekly . How You see a Buyer is How you see yourself in the truth Form . Don’t believe look at yourself in you always saying everything is so expensive I bet you think everything you see is expensive in your mind . Each day you should ask If you see people as liars . How do you think people see you ?
I have seen this Real Estate agent who believe Buyers are Liars . Get what they believe Buyers play games with them . I also seen them play games with Buyers . Becomes both parties Agent and Buyer doesn’t trust each other . Each have grown to mistrust.
I have also seen Famous Training Coach say we not Real estate Business for People we are in for Money . I not saying I against money but I learn one think from Sales . The More people you can help get what they want the more you get what you want quote from Zig Ziglar . Which is a true Real great Sales Trainer . If you in Sales you should get everything this man ever wrote or audio Tapes .
So this Statement about Buyers are Liars . Buyer should be asking Agents what Feel about working with Buyers . Do they enjoy Servicing people ? In Some cases there are Salespeople who care more about the Sell then building relationship with Clients . I will say one think the more you can build relationship the more you end up selling more Houses . So this Agent are only looking at the short term . They truly losing and losing client trust.
If you looking for great Buyer agent who really work for you . Let me know our Team has the Best Real Estate agents in Westchester /Putnam County .
As a Dog Lover looking for Co-op in Westchester that allows Owners to have a Dog . Are extremely Rare . Here is a list of some of Co-op that allow Dogs , I don’t put co-op that have weight restrictions . Please Verify again because Co-op Boards sometime change rules
Who want to say no to this face ? Not Me
Accept All Dogs : Complex through out Westchester Country
ADDRESS : 808 – 840 Bronx River Road
Bronxville, NY 10708
Bronxville Ridge Cooperative
CLASSIC PRE-WAR APARTMENTS FOR YOUR 21ST-CENTURY LIFESTYLE
Five buildings and grounds
1-, 2-, 3- and 4-bedroom apartments, all with a fireplace, some with a private entrance
Pet-friendly
On-premises playground
Laundry room in each building
Choice of Verizon FIOS or Optimum Online for phone / TV / internet service
Around the corner from MetroNorth’s Fleetwood station, shopping and Bronxville Villa
Address of property : 2 Bronxville Rd Bronxville NY 10708
Management : Garthchester Realty Address: 209 Garth Rd, Scarsdale, NY 10583, United States
Phone: 914-725-3600
Complex : The Kensington
Mid Rise Building
Pool
Pet Friendy
Super live in building
Laundry room in basement
Assigning outside /Garage parking
1 to 3 Bedroom units
Close to Fleetwood Station , Yonkers Schools
Address : 36 Echo Ave New Rochelle NY 10801
Property management : Westfair Service
56 Lafayette Avenue, Suite 360 White Plains, NY 10603 Tel: (914) 682-5676
Complex : Beacon Hall Cooperative
Classic Pre-War Apartments
Pet Friendy
Super live in building
Laundry room in basement
Assigning Parking
1 to 3 Bedroom units
Close to Roc City ,Beach and Marina
Address : 643 Pelham Rd New Rochelle NY 10805
Property management : Stillman Property Management / 440 Mamaroneck Ave, Suite S512, Harrison, NY 10528 / Tel: 914-813-1900
Complex : Whitewood Gardens
Garden Style Apartments
Pet Friendy
Super live in building
Laundry room in basement Building 4
Assigning Parking
1 to 3 Bedroom units
Close to Roc City ,Beach and Marina
Address : 200 Centre Ave New Rochelle 10805
Property management : Gramatan Management
Address: 2 Hamilton Ave # 217, New Rochelle, NY 10801, United States
Phone: +1 914-654-1414
Complex : Cooperatives at 200 Centre
Garden Style Apartments
1-4 Bedrooms
Assigned Parking
Main Street to Centre
Address : Robins Rd New Rochelle 10801
Property management : Gramatan Management
Address: 2 Hamilton Ave # 217, New Rochelle, NY 10801, United States
Phone: +1 914-654-1414
Complex : Pelhamdale Manor
Garden Style Apartments /Town House Styles
1-4 Bedrooms
Assigned Parking
Address : 10 Franklin Avenue White Plains NY 10801
Property management : Stillman Property Management / 440 Mamaroneck Ave, Suite S512, Harrison, NY 10528 / Tel: 914-813-1900
Complex : Westbrook tenants corp
Pet friendly
Assign parking outside
Laundry room
Centrally located in WhitePlains
Built 1954
Address : 20 N Broadway White Plains NY 10601
Property management : Benchmark Property Management/Address: 951 E Boston Post Rd, Mamaroneck, NY 10543, United States Phone: +1 914-698-4100
Complex : The Broadlawn
Tudor Style /Garden Stlye / Duplex
Pet friendly
Assign parking outside
Laundry
Centrally located in WhitePlains
Built 1930
Address : 11 Westview Ave White Plains NY 10801
Property management : Garthchester Realty Address: 209 Garth Rd, Scarsdale, NY 10583, United States
Phone: 914-725-3600
Complex : Longacre Gardens
Pet friendly
Assign parking outside
Laundry room
located in White Plains on North Broadway
Built 1953
Address : 645 North Broadway Hastings-on-Hudson 10706
Property management : Gramatan Management
Address: 2 Hamilton Ave # 217, New Rochelle, NY 10801, United States
Phone: +1 914-654-1414
Complex : River Glen
Pet friendly
Assign parking outside
Laundry room
located Hasting on Hudson
Built 1941
Address : 352 Central Avenue Scarsdale NY 10583
Property management : CDT Property Management
Address: 158 W Boston Post Rd, Mamaroneck, NY 10543, United States
Phone: +1 914-381-7200
Complex : Scarsdale Ridge
Pet friendly
Assign parking outside
Laundry room
Built 1970
Address : 61 West Grand Street Mount Vernon
Property management : HSC Management Corporation
Address: 102 Gramatan Ave, Mt Vernon, NY 10550, United States
Phone: 914-237-1600
Complex : Grand Gardens
midrise Building
Pet friendly
Laundry room
located Fleetwood Station
Built 1929
Address : 68 E Hartsdale Avenue Hartsdale NY 10530
Property management : Sovereign Servicing System LLC
Address: 1 Stone Place, Suite 200 Bronxville, NY 10708
Phone: 914-779-1400
Complex: Country Club Apartments
midrise Building
Pet friendly
Laundry room
located Hartsdale Station
Built 1930
Address :
Property management : The Ferrara Management Group, Inc
Address: 50 Plainfield Ave, Bedford Hills, NY 10507, United States
Phone: 914-888-2099
Complex: Hudson House
midrise Building
Pet friendly
Laundry room
located Irvington Station
Built 1937
Address : 604 Tompkins Avenue Mamaroneck NY 10543
Stillman Property Management / 440 Mamaroneck Ave, Suite S512, Harrison, NY 10528 / Tel: 914-813-1900
Complex: Evelyn Court
midrise Building
Pet friendly
Laundry room
located Boston Post Rd
Built 1926
Address : S Highland AvenueOssiningNY 10562
Property management : HSC Management Corporation
Address: 102 Gramatan Ave, Mt Vernon, NY 10550, United States
Phone: 914-237-1600
Complex: Highland Terrace
Garden Apartment
Pet friendly
Laundry room
located Ossining Access path to the Croton Aqueduct trail for near shops, restaurants, buses and Metro-North Railroad.
Built 1962
Address : 70 Manville Rd Pleasentville NY 10570
Property management : Barhite And Holzinger
Address: 71 Pondfield Rd, Bronxville, NY 10708, United States
So you maybe asking Yourself Why is Nuno Writing about a Pizzeria place . Why not make a list of the best pizzeria in Westchester NY you may ask . I going let you know I love Pizza when I mean I love pizza I eaten in almost every pizzeria from Putnam County To Southen part Westchester Country .
There is a lot great pizzeria in Westchester . I will late one day make a list of all the great pizzeria’s in Blog Post . Today I going to talk about the 1# Hands Down the Best Pizzeria in Westchester .
Most of All Why I am Writing about Johnny is because I lived in Westchester county for 35 years. I only found Johnny in 2010 because my Girlfriend at the time now wife took me there . I was living in Mt Vernon at the time . This was Happy day but also a Sad one . I eat two pies celebrate that I had found Heaven . At the same time I felt great sorrow I don’t know about Johnny’s earlier in life . I have Family that lived up the block , I living in Mt Vernon and had worked up the block I know sad . You will understand once you eat the pizza my sorrow . I writing this because I don’t want anyone else missing out .So I write this article to say at least someone in Westchester County told you about Johnny’s .
Rules To Johnnys
They Close on Sunday & Mondays
They only Take Cash . Don’t Bring plastic
They only Sell pies No Slices .
Parking Sucks so don’t go with anyone who complains a lot . Leave them at home .
This a great Family place if you love the Yankees Welcome Home
They also Sell other good Foods But if you leave there with out trying the Pizza . You truly missing out Pizza Heaven . I also say one thing more if you complain you have wait for Pizza Heaven you also suck as person in my Book .
This is a family owned and run Restaurant.
Here is one their many great Reviews :
Johnny’s serves a New York style Neoplitan pizza in the vein of Lombardi’s, Patsy’s and Pepe’s; except that it stands apart as unique in taste & construction. The pie is dressed with what appears to the uneducated as to much sauce and not enough cheese on a crust so thin that is should fall apart; but nothing could be farther from the truth. The pizza at Johnny’s is as exemplary and unique in taste as it is in construction.
It surprises me how Johnny’s has not been written up in the NY Times and heralded on the Food Network, which Johnny’s deserves. However, from a very self centered standpoint I am glad it has not been because I might not be able to get a table and therefore truly deprived of greatness.
Johnny’s may very well be the most unique pizza made in the U.S. and it should be held among the ranks of the best in America.
JOE [1939-2016]Our Dad, Joseph, was born to March 25, 1939 to Joseph and Concetta Piscopo. He is the last to be born out of 16 children. He was raised with his oldest brothers, Johnny, Frankie and Sonny along with his sisters Anna and Maria. One brother Anthony died before he was born. He was raised in Mount Vernon.New York and attended Edison High School. On July 4, 1942 our grandfather Joseph opened up Johnny’s Pizzeria on East 3rd Street in Mount Vernon for his oldest son Johnny. They served thin crust pizza and other Italian dishes. Our grandmother Concetta worked in the kitchen making her delicious sauce and meatballs while Grandpa, Uncle Johnny, Uncle Sonny and Uncle Frank worked up front making the pizza’s. Our Aunt Anna and Aunt Marie would also help out at the pizzeria. As our father got older, and his responsibilities changed, he helped in the family business. He would say it wasn’t easy, cause, if you wanted to go out and play with your friends, you would have to work for it – he had to chop the wood for the coal ovens in the store before being allowed to go out and play. As the years went on and the times changed he continued to work in the family business. He met the love of his life, Maria Colabella, at his sister Annie’s family cookout. They married on May 9, 1970 and celebrated 46 happy years together this past year. They welcomed four loving children into their lives, Joseph (Preziosa), Ricky, Concetta (Raul) and Tina (Michael) making many happy memories. He was the proud Pop-Pop to Brianna, Joey, Christian and Ava. They were the joys of his life. He taught them so much in such a short time. Our dad believed in family values. On Holidays he would visit the deceased member’s first and then visited the living. That’s how he was brought up and how he taught us. He believed in Sunday dinners and in big family barbeques. Holidays were the most important part of family, to him that’s what family was all about, being together! His favorite saying was “enjoy it while you can because once we go, you can’t get it back”. After many years working with his brothers John and Frank, our dad took over the family business. He continued to build the legacy along with his wife Maria and their children, Joseph, Ricky, Concetta and Tina. Also involved working in the business was his daughter in law Prez and son in law Michael and, most recently, his grandchildren Brianna and Joey. Even Christian and Ava would try to get involved. This past July 4th they Celebrated 74 Years in business. Growing up we all learned that nothing was given to us, we had to work for it. Our dad loved life, he loved his family, he loved his game of golf and of course he said it never rained on the golf course. LOL He especially loved his NY Yankees, the New York Giants and his Monday night Wrestling. He loved it when his family gathered upstate at the Ponderosa. He liked to see us all enjoy ourselves from riding on the quads to swimming in the pool. He even used to make fun of my mother when we all used to come over and she. would cook for 30 people and there was only 10 of us. Our dad touched the lives of his nieces, nephews, cousins and dear friends. He appreciated when they visited him and all the conversations that they shared. There is so much to say about our dad that words cannot describe. We know our dad is no longer in pain. He doesn’t have to get poked and pinched from dialysis. He doesn’t have to suffer, He is at peace. He is probably having an anchovy pie with Uncle Johnny and drinking wine with his mom, dad and the rest of his family in heaven. Dad, you left us too soon. We said goodbye but it wasn’t supposed to be forever. It won’t be easy to part from you, but we will always have our memories. You taught us family first and we only have each other because when “Mommy and Daddy are gone” memories are all that you can hold onto. You also taught us to stick together, be happy and most importantly Love each other. We miss you Daddy, the Pizzeria won’t be the same without you. May God bless and watch over all of us. We Love you, and will see you someday in Heaven.
So Tell your Friends Go there and Remember who told You Nuno that Realtor with Blog . Look Forward other great places in Westchester county
So Sometimes as a Homeowner you have seen Signs on main Street saying “We Buy Your House Cash ” . You Have seen Websites That sent up meetings with investors looking in Your Area and you .
What you should know about selling your house to an investor?
Selling to an investor saves time and hassle, but it’s not for everyone.
Personal situations, like a job relocation, divorce or potential foreclosure, are some common reasons people end up quickly selling a home to an investor.
There’s a new type of home investor, called an iBuyeror Buy on Demand.
Whether you sell to a traditional investor or an iBuyer, you can expect a quicker close, an as-is sale and an all-cash offer.
When selling to a private investor without a listing agent, you need to do your research to protect yourself from scams. There are plenty of companies that buy houses — make sure to use a reputable one.
Why you can lose a lot of Money because you sell to investor ?
This part of the topic I going to share my experience maybe this will help a lot of readers and please pass this information on . In most case I never like investors who go after Homeowners Directly . I going to say most case investor maybe Honest and Straight forward . Most case the Seller losing 10-30% of their Home Value . I have seen investors understand pricing and Homeowners not under pricing and estimating worth . The investor take advantage of the Home owners situation need to Sell .
Home Owner need to do their Home work . You can get Free Report at www.HomeValueReportNewYork.com . You can always Call in a Real Estate Agent for Home Value . You Can always Hire an Real Estate agent to Represent .
The investor will do their Home work . They will know everything they need to know when they give you an offer . Most investors are working on know why your selling , How they can work that to their favor . How they can get a Traditional Buyer to purchase your property right away . They thinking about what repairs the house need to make the most of the House Value .
I have Help my investor in my early career take advantage of unknowing Homeowners with information which I didn’t know they were using to get an unbelievable deal with Owners knowledge . This why I writing this . Please understand Realtors need by their Board of Realtors need to be Honest in Dealing with you . Investor always prey on Homeowners who need money . They practice and prefect their skills on get the best deal for their self
If you get a call from investor and you think about selling because need to sell . Get Help you be amazed how many Realtors love to help people out there . They want help their community .
So I want to Share you a Sample of a Contract many times Buyers only get to see a Contract once they fallen in love with the House . They Start to feel the pressure to sign before they lose the house to another buyer . They don’t feel like they really got a Chance to Read the contract . So below I have attach a File for you Download and also I have Cut and Paste . The Contract That Lawyers Have on https://www2.nycbar.org/RealEstate/Forms/Residential_Contract_pdf.pdf . I hope this comes in handy . You as Buyer should Read it before you later get it with time Breathing Down your neck . Be prepared this way you are relax through out the process
Warning: No representation is made that this form of contract for the sale and purchase of real estate complies with Section 5-702 of the General Obligations Law (“Plain Language Law”). CONSULT YOUR LAWYER BEFORE SIGNING THIS AGREEMENT NOTE: FIRE AND CASUALTY LOSSES AND CONDEMNATION This contract form does not provide for what happens in the event of fire, or other casualty loss or condemnation before the title closing. Unless different provision is made in this contract, Section 5-1311 of the General Obligations Law will apply. One part of that law makes a Purchaser responsible for fire and casualty loss upon taking possession of the Premises before the title closing. Residential Contract of Sale Contract of Sale made as of ___________________________ between ______________________________________________________________ Address: ________________________________________________________________ Social Security Number/ Fed. I.D. No(s): ___________________ hereinafter called “Seller” and __________________________________________________________________ Address: ______________________________________________________________ Social Security Number/ Fed. I.D. No(s): ______________ hereinafter called “Purchaser”. The parties hereby agree as follows:
Premises. Seller shall sell and convey and Purchaser shall purchase the property, together with all buildings and improvements thereon (collectively the “Premises”), more fully described on a separate page marked “Schedule A”, annexed hereto and made a part hereof and also known as: _________________ Street Address: ________________________________________________________. Tax Map Designation: ____________________________________. Together with Seller’s ownership and rights, if any, to land lying in the bed of any street or highway, opened or proposed, adjoining the Premises to the center line thereof, including any right of Seller to any unpaid award by reason of any taking by condemnation and/or for any damage to the Premises by reason of change of grade of any street or highway. Seller shall deliver at no additional cost to Purchaser, at Closing (as hereinafter defined), or thereafter, on demand, any documents that Purchaser may
2 – reasonably require for the conveyance of such title and the assignment and collection of such award or damages.
Personal Property. This sale also includes all fixtures and articles of personal property now attached or appurtenant to the Premises, unless specifically excluded below. Seller represents and warrants that at Closing they will he paid for and owned by Seller, free and clear of all liens and encumbrances, except any existing mortgage to which this sale may be subject. They include, but are not limited to, plumbing, heating, lighting and cooking fixtures, chandeliers, bathroom and kitchen cabinets and counters, mantels, door mirrors, switch plates and door hardware, venetian blinds, window treatments, shades, screens, awnings, storm windows, storm doors, window boxes, mail box, TV aerials, weather vane, flagpole, pumps, shrubbery, fencing, outdoor statuary, tool shed, dishwasher, washing machine, clothes dryer, garbage disposal unit, range, oven, built-in microwave oven, refrigerator, freezer, air conditioning equipment and installations, wall to wall carpeting and built-ins not excluded below (strike out inapplicable items). Excluded from this sale are furniture and household furnishings and
Purchase Price. The purchase price is _____________________ ($_____________), payable as follows: (a) on the signing of this contract, by Purchaser’s good check payable to the Escrowee (as hereinafter defined), subject to collection, the receipt of which is hereby acknowledged, to be held in escrow pursuant to paragraph 6 of this contract (the “Downpayment”): $_____________. (b) by allowance for the principal amount unpaid on the existing mortgage on the date hereof, payment of which Purchaser shall assume by joinder in the deed: $_____________. (c) by a purchase money note and mortgage from Purchaser to Seller: $_____________. (d) balance at Closing in accordance with paragraph 7: $________.
3 –
Existing Mortgage. (Delete if inapplicable) If this sale is subject to an existing mortgage as indicated in paragraph 3(b) above: (a) The Premises shall be conveyed subject to the continuing lien of the existing mortgage, which is presently payable, with interest at the rate of ____ percent per annum, in monthly installments of $__________ which include principal, interest and escrow amounts, if any, and with any balance of principal being due and payable on _______________________. (b) To the extent that any required payments are made on the existing mortgage between the date hereof and Closing which reduce the unpaid principal amount thereof below the amount shown in paragraph 3(b), then the balance of the price payable at Closing under paragraph 3(d) shall be increased by the amount of the payments of principal. Seller represents and warrants that the amount shown in paragraph 3(b) is substantially correct and agrees that only payments required by the existing mortgage will be made between the date hereof and Closing. (c) If there is a mortgagee escrow account, Seller shall assign it to Purchaser, if it can be assigned, and in that case Purchaser shall pay the amount in the escrow account to Seller at Closing. (d) Seller shall deliver to Purchaser at Closing a certificate dated not more than 30 days before Closing signed by the holder of the existing mortgage, in form for recording, certifying the amount of the unpaid principal, the date to which interest has been paid and the amounts, if any, claimed to be unpaid for principal and interest, itemizing the same. Seller shall pay the fees for recording such certificate. If the holder of the existing mortgage is a bank or other institution as defined in Section 274-a of the Real Property Law it may, instead of the certificate, furnish a letter signed by a duly authorized officer, employee or agent, dated not more than 30 days before Closing, containing the same information. (e) Seller represents and warrants that (i) Seller has delivered to Purchaser true and complete copies of the existing mortgage, the note secured thereby and any extensions and modifications thereof, (ii) the existing mortgage is not now, and at the time of Closing will not be, in default, and (iii) the existing mortgage does not contain any provision that permits the holder of the mortgage to require its immediate payment in full or to change any other term thereof by reason of the sale or conveyance of the Premises.
Purchase Money Mortgage. (Delete if inapplicable) If there is to be a purchase money mortgage as indicated in paragraph 3(c) above: (a) The purchase money note and mortgage shall be drawn by the attorney for Seller in the form attached or, if not, in the standard form adopted by the New York
4 – State Land Title Association. Purchaser shall pay at Closing the mortgage recording tax, recording fees and the attorney’s fees in the amount of $__________ for its preparation. (b) The purchase money note and mortgage shall also provide that it is subject and subordinate to the lien of the existing mortgage and any extensions, modifications, replacements or consolidations of the existing mortgage, provided that (i) the interest rate thereof shall not be greater than ___ percent per annum and the total debt service thereunder shall not be greater than $ ___________ per annum, and (ii) if the principal amount thereof shall exceed the amount of principal owing and unpaid on the existing mortgage at the time of placing such new mortgage or consolidated mortgage, the excess be paid to the holder of such purchase money mortgage in reduction of the principal thereof. The purchase money mortgage shall also provide that such payment to the holder thereof shall not alter or affect the regular installments, if any, of principal payable thereunder and that the holder thereof will, on demand and without charge therefor, execute, acknowledge and deliver any agreement or agreements further to effectuate such subordination.
Downpayment in Escrow. (a) Seller’s attorney (“Escrowee”) shall hold the Downpayment in escrow in a segregated bank account at _____________________, address: ________________________________, until Closing or sooner termination of this contract and shall pay over or apply the Downpayment in accordance with the terms of this paragraph. Escrowee shall hold the Downpayment in a(n) __-bearing account for the benefit of the parties. If interest is held for the benefit of the parties, it shall be paid to the party entitled to the Downpayment and the party receiving the interest shall pay any income taxes thereon. If interest is not held for the benefit of the parties, the Downpayment shall be placed in an IOLA account or as otherwise permitted or required by law. The Social Security or Federal Identification numbers of the parties shall be furnished to Escrowee upon request. At Closing, the Downpayment shall be paid by Escrowee to Seller. If for any reason Closing does not occur and either party gives Notice (as defined in paragraph 25) to Escrowee demanding payment of the Downpayment, Escrowee shall give prompt Notice to the other party of such demand. If Escrowee does not receive Notice of objection from such other party to the proposed payment within 10 business days after the giving of such Notice, Escrowee is hereby authorized and directed to make such payment. If Escrowee does receive such Notice of objection within such 10 day period or if for any other reason Escrowee in good faith shall elect not to make such payment, Escrowee shall continue to hold such amount until otherwise directed by Notice from the parties to this contract or a final, nonappealable judgment, order or decree of a court. However, Escrowee shall have the right at any time to deposit the Downpayment and the interest thereon with the clerk of a court in the county in which the Premises are located and shall give Notice of such deposit to Seller and Purchaser. Upon such deposit or other disbursement in accordance with the terms of this paragraph, Escrowee shall be relieved and discharged of all further obligations and responsibilities hereunder.
5 – (b) The parties acknowledge that Escrowee is acting solely as a stakeholder at their request and for their convenience and that Escrowee shall not be liable to either party for any act or omission on its part unless taken or suffered in bad faith or in willful disregard of this contract or involving gross negligence on the part of Escrowee. Seller and Purchaser jointly and severally (with right of contribution) agree to defend (by attorneys selected by Escrowee), indemnify and hold Escrowee harmless from and against all costs, claims and expenses (including reasonable attorneys’ fees) incurred in connection with the performance of Escrowee’s duties hereunder, except with respect to actions or omissions taken or suffered by Escrowee in bad faith or in willful disregard of this contract or involving gross negligence on the part of Escrowee. (c) Escrowee may act or refrain from acting in respect of any matter referred to herein in full reliance upon and with the advice of counsel which may be selected by it (including any member of its firm) and shall be fully protected in so acting or refraining from action upon the advice of such counsel. (d) Escrowee acknowledges receipt of the Downpayment by check subject to collection and Escrowee’s agreement to the provisions of this paragraph by signing in the place indicated on the signature page of this contract. (e) Escrowee or any member of its firm shall be permitted to act as counsel for Seller in any dispute as to the disbursement of the Downpayment or any other dispute between the parties whether or not Escrowee is in possession of the Downpayment and continues to act as Escrowee. (f) The party whose attorney is Escrowee shall be liable for loss of the Downpayment.
Acceptable Funds. All money payable under this contract, unless otherwise specified, shall be paid by: (a) Cash, but not over $1,000.00; (b) Good certified check of Purchaser drawn on or official check issued by any bank, savings bank, trust company or savings and loan association having a banking office in the State of New York, unendorsed and payable to the order of Seller, or as Seller may otherwise direct upon reasonable prior notice (by telephone or otherwise) to Purchaser; (c) As to money other than the purchase price payable to Seller at Closing, uncertified check of Purchaser up to the amount of $_______________; and (d) As otherwise agreed to in writing by Seller or Seller’s attorney.
6 –
Mortgage Commitment Contingency. (Delete paragraph if inapplicable) (a) The obligation of Purchaser to purchase under this contract is conditioned upon issuance, on or before _____ days after a fully executed copy of this contract is given to Purchaser or Purchaser’s attorney in the manner set forth in paragraph 25 or subparagraph 8(k) (the “Commitment Date”), of a written commitment from an Institutional Lender pursuant to which such Institutional Lender agrees to make a first mortgage loan, other than a VA, FHA or other governmentally insured loan, to Purchaser, at Purchaser’s sole cost and expense, of $______________ for a term of at least __ years (or such lesser sum or shorter term as Purchaser shall be willing to accept) at the prevailing fixed or adjustable rate of interest and on other customary commitment terms (the “Commitment”). To the extent a Commitment is conditioned on the sale of Purchaser’s current home, payment of any outstanding debt, no material adverse change in Purchaser’s financial condition or any other customary conditions, Purchaser accepts the risk that such conditions may not be met; however, a commitment conditioned on the Institutional Lender’s approval of an appraisal shall not be deemed a “Commitment” hereunder until an appraisal is approved (and if that does not occur before the Commitment Date, Purchaser may cancel under subparagraph 8(e) unless the Commitment Date is extended). Purchaser’s obligations hereunder are conditioned only on issuance of a Commitment. Once a Commitment is issued, Purchaser is bound under this contract even if the lender fails or refuses to fund the loan for any reason. (b) Purchaser shall (i) make prompt application to one or, at Purchaser’s election, more than one Institutional Lender for such mortgage loan, (ii) furnish accurate and complete information regarding Purchaser and members of Purchaser’s family, as required, (iii) pay all fees, points and charges required in connection with such application and loan, (iv) pursue such application with diligence, and (v) cooperate in good faith with such Institutional Lender(s) to obtain a Commitment. Purchaser shall accept a Commitment meeting the terms set forth in subparagraph 8(a) and shall comply with all requirements of such Commitment (or any other commitment accepted by Purchaser). Purchaser shall furnish Seller with a copy of the Commitment promptly after receipt thereof. (c) (Delete this subparagraph if inapplicable) Prompt submission by Purchaser of an application to a mortgage broker registered pursuant to Article 12-D of the New York Banking Law (“Mortgage Broker”) shall constitute full compliance with the terms and conditions set forth in subparagraph 8(b)(i), provided that such Mortgage Broker promptly submits such application to such Institutional Lender(s). Purchaser shall cooperate in good faith with such Mortgage Broker to obtain a Commitment from such Institutional Lender(s). (d) If all Institutional Lenders to whom applications were made deny such applications in writing prior to the Commitment Date, Purchaser may cancel this contract
7 – by giving Notice thereof to Seller, with a copy of such denials, provided that Purchaser has complied with all its obligations under this paragraph 8. (e) If no Commitment is issued by the Institutional Lender on or before the Commitment Date, then, unless Purchaser has accepted a written commitment from an Institutional Lender that does not conform to the terms set forth in subparagraph 8(a), Purchaser may cancel this contract by giving Notice to Seller within 5 business days after the Commitment Date, provided that such Notice includes the name and address of the Institutional Lender(s) to whom application was made and that Purchaser has complied with all its obligations under this paragraph 8. (f) If this contract is canceled by Purchaser pursuant to subparagraphs 8(d) or (e), neither party shall thereafter have any further rights against, or obligations or liabilities to, the other by reason of this contract, except that the Downpayment shall be promptly refunded to Purchaser and except as set forth in paragraph 27. (g) If Purchaser fails to give timely Notice of cancellation or if Purchaser accepts a written commitment from an Institutional Lender that does not conform to the terms set forth in subparagraph 8(a), then Purchaser shall be deemed to have waived Purchaser’s right to cancel this contract and to receive a refund of the Downpayment by reason of the contingency contained in this paragraph 8. (h) If Seller has not received a copy of a commitment from an Institutional Lender accepted by Purchaser by the Commitment Date, Seller may cancel this contract by giving Notice to Purchaser within 5 business days after the Commitment Date, which cancellation shall become effective unless Purchaser delivers a copy of such commitment to Seller within 10 business days after the Commitment Date. After such cancellation neither party shall have any further rights against, or obligations or liabilities to, the other by reason of this contract, except that the Downpayment shall be promptly refunded to Purchaser (provided Purchaser has complied with all of its obligations under this paragraph 8) and except as set forth in paragraph 27. (i) The attorneys for the parties are hereby authorized to give and receive on behalf of their clients all Notices and deliveries under this paragraph 8. (j) For purposes of this contract, the term “Institutional Lender” shall mean any bank, savings bank, private banker, trust company, savings and loan association, credit union or similar banking institution whether organized under the laws of this state, the United States or any other state; foreign banking corporation licensed by the Superintendent of Banks of New York or regulated by the Comptroller of the Currency to transact business in New York State; insurance company duly organized or licensed to do business in New York State; mortgage banker licensed pursuant to Article 12-D of the Banking Law; and any instrumentality created by the United States or any state with the power to make mortgage loans.
8 – (k) For purposes of subparagraph (a), Purchaser shall be deemed to have been given a fully executed copy of this contract on the third business day following the date of ordinary or regular mailing, postage prepaid.
Permitted Exceptions. The Premises are sold and shall be conveyed subject to: (a) Zoning and subdivision laws and regulations, and landmark, historic or wetlands designation, provided that they are not violated by the existing buildings and improvements erected on the property or their use; (b) Consents for the erection of any structures on, under or above any streets on which the Premises abut; (c) Encroachments of stoops, areas, cellar steps, trim and cornices, if any, upon any street or highway; (d) Real estate taxes that are a lien, but are not yet due and payable; and (e) The other matters, if any, including a survey exception, set forth in a Rider attached.
Governmental Violations and Orders. (a) Seller shall comply with all notes or notices of violations of law or municipal ordinances, orders or requirements noted or issued as of the date hereof by any governmental department having authority as to lands, housing, buildings, fire, health, environmental and labor conditions affecting the Premises. The Premises shall be conveyed free of them at Closing. Seller shall furnish Purchaser with any authorizations necessary to make the searches that could disclose these matters. (b) (Delete if inapplicable) All obligations affecting the Premises pursuant to the Administrative Code of the City of New York incurred prior to Closing and payable in money shall be discharged by Seller at or prior to Closing.
Seller’s Representations. (a) Seller represents and warrants to Purchaser that: (i) The Premises abut or have a right of access to a public road; (ii) Seller is the sole owner of the Premises and has the full right, power and authority to sell, convey and transfer the same in accordance with the terms of this contract; (iii) Seller is not a “foreign person”, as that term is defined for purposes of the Foreign Investment in Real Property Tax Act, Internal Revenue Code
9 – (“IRC”) Section 1445, as amended, and the regulations promulgated thereunder (collectively “FIRPTA”); (iv) The Premises are not affected by any exemptions or abatements of taxes; and (v) Seller has been known by no other name for the past ten years, except _________________________. (b) Seller covenants and warrants that all of the representations and warranties set forth in this contract shall be true and correct at Closing. (c) Except as otherwise expressly set forth in this contract, none of Seller’s covenants, representations, warranties or other obligations contained in this contract shall survive Closing.
Condition of Property. Purchaser acknowledges and represents that Purchaser is fully aware of the physical condition and state of repair of the Premises and of all other property included in this sale, based on Purchaser’s own inspection and investigation thereof, and that Purchaser is entering into this contract based solely upon such inspection and investigation and not upon any information, data, statements or representations, written or oral, as to the physical condition, state of repair, use, cost of operation or any other matter related to the Premises or the other property included in the sale, given or made by Seller or its representatives, and shall accept the same “as is” in their present condition and state of repair, subject to reasonable use, wear, tear and natural deterioration between the date hereof and the date of Closing (except as otherwise set forth in paragraph 16(e)), without any reduction in the purchase price or claim of any kind for any change in such condition by reason thereof subsequent to the date of this contract. Purchaser and its authorized representatives shall have the right, at reasonable times and upon reasonable notice (by telephone or otherwise) to Seller, to inspect the Premises before Closing.
Insurable Title. Seller shall give and Purchaser shall accept such title as ___________________________________________________ shall be willing to approve and insure in accordance with its standard form of title policy approved by the New York State Insurance Department, subject only to the matters provided for in this contract.
Closing, Deed and Title. (a) “Closing” means the settlement of the obligations of Seller and Purchaser to each other under this contract, including the payment of the purchase price to Seller, and the delivery to Purchaser of a ________________________________ deed in proper statutory short form for record, duly executed and acknowledged, so as to convey to Purchaser fee simple title to the Premises, free of all encumbrances, except as otherwise herein stated.
10 – The deed shall contain a covenant by Seller as required by subd. 5 of Section 13 of the Lien Law. (b) If Seller is a corporation, it shall deliver to Purchaser at the time of Closing (i) a resolution of its Board of Directors authorizing the sale and delivery of the deed, and (ii) a certificate by the Secretary or Assistant Secretary of the corporation certifying such resolution and setting forth facts showing that the transfer is in conformity with the requirements of Section 909 of the Business Corporation Law. The deed in such case shall contain a recital sufficient to establish compliance with that Section.
Closing Date and Place. Closing shall take place at the office of _________________________________ at __________ o’clock on ______________________ or, upon reasonable notice (by telephone or otherwise) by Purchaser, at the office of _____________________________.
Conditions to Closing. This contract and Purchaser’s obligation to purchase the Premises are also subject to and conditioned upon the fulfillment of the following conditions precedent: (a) The accuracy, as of the date of Closing, of the representations and warranties of Seller made in this contract. (b) The delivery by Seller to Purchaser of a valid and subsisting Certificate of Occupancy or other required certificate of compliance, or evidence that none was required, covering the building(s) and all of the other improvements located on the property authorizing their use as a ____ family dwelling at the date of Closing. (c) The delivery by Seller to Purchaser of a certificate stating that Seller is not a foreign person, which certificate shall be in the form then required by FIRPTA or a withholding certificate from the Internal Revenue Service. If Seller fails to deliver the aforesaid certificate or if Purchaser is not entitled under FIRPTA to rely on such certificate, Purchaser shall deduct and withhold from the purchase price a sum equal to 10% thereof (or any lesser amount permitted by law) and shall at Closing remit the withheld amount with the required forms to the Internal Revenue Service. (d) The delivery of the Premises and all building(s) and improvements comprising a part thereof in broom clean condition, vacant and free of leases or tenancies, together with keys to the Premises. (e) All plumbing (including water supply and septic systems, if any), heating and air conditioning, if any, electrical and mechanical systems, equipment and machinery in the building(s) located on the property and all appliances which are included in this sale being in working order as of the date of Closing.
11 – (f) If the Premises are a one or two family house, delivery by the parties at Closing of affidavits in compliance with state and local law requirements to the effect that there is installed in the Premises a smoke detecting alarm device or devices. (g) The delivery by the parties of any other affidavits required as a condition of recording the deed.
Deed Transfer and Recording Taxes. At Closing, certified or official bank checks payable to the order of the appropriate State, City or County officer in the amount of any applicable transfer and/or recording tax payable by reason of the delivery or recording of the deed or mortgage, if any, shall be delivered by the party required by law or by this contract to pay such transfer and/or recording tax, together with any required tax returns duly executed and sworn to, and such party shall cause any such checks and returns to be delivered to the appropriate officer promptly after Closing. The obligation to pay any additional tax or deficiency and any interest or penalties thereon shall survive Closing.
Apportionments and Other Adjustments; Water Meter and Installment Assessments. (a) To the extent applicable, the following shall be apportioned as of midnight of the day before the day of Closing: (i) taxes, water charges and sewer rents, on the basis of the fiscal period for which assessed; (ii) fuel; (iii) interest on the existing mortgage; (iv) premiums on existing transferable insurance policies and renewals of those expiring prior to Closing; (v) vault charges; (vi) rents as and when collected. (b) If Closing shall occur before a new tax rate is fixed, the apportionment of taxes shall be upon the basis of the tax rate for the immediately preceding fiscal period applied to the latest assessed valuation. (c) If there is a water meter on the Premises, Seller shall furnish a reading to a date not more than 30 days before Closing and the unfixed meter charge and sewer rent, if any, shall be apportioned on the basis of such last reading. (d) If at the date of Closing the Premises are affected by an assessment which is or may become payable in annual installments, and the first installment is then a lien, or has been paid, then for the purposes of this contract all the unpaid installments shall be considered due and shall be paid by Seller at or prior to Closing. (e) Any errors or omissions in computing apportionments or other adjustments at Closing shall be corrected within a reasonable time following Closing. This subparagraph shall survive Closing.
Allowance for Unpaid Taxes, etc. Seller has the option to credit Purchaser as an adjustment to the purchase price with the amount of any unpaid taxes, assessments, water charges and sewer rents, together with any interest and penalties thereon to a date
12 – not less than five business days after Closing, provided that official bills therefor computed to said date are produced at Closing.
Use of Purchase Price to Remove Encumbrances. If at Closing there are other liens or encumbrances that Seller is obligated to pay or discharge, Seller may use any portion of the cash balance of the purchase price to pay or discharge them, provided Seller shall simultaneously deliver to Purchaser at Closing instruments in recordable form and sufficient to satisfy such liens or encumbrances of record, together with the cost of recording or filing said instruments. As an alternative Seller may deposit sufficient monies with the title insurance company employed by Purchaser acceptable to and required by it to assure their discharge, but only if the title insurance company will insure Purchaser’s title clear of the matters or insure against their enforcement out of the Premises and will insure Purchaser’s Institutional Lender clear of such matters. Upon reasonable prior notice (by telephone or otherwise), Purchaser shall provide separate certified or official bank checks as requested to assist in clearing up these matters.
Title Examination; Seller’s Inability to Convey; Limitations of Liability. (a) Purchaser shall order an examination of title in respect of the Premises from a title company licensed or authorized to issue title insurance by the New York State Insurance Department or any agent for such title company promptly after the execution of this contract or, if this contract is subject to the mortgage contingency set forth in paragraph 8, after a mortgage commitment has been accepted by Purchaser. Purchaser shall cause a copy of the title report and of any additions thereto to be delivered to the attorney(s) for Seller promptly after receipt thereof. (b) (i) If at the date of Closing Seller is unable to transfer title to Purchaser in accordance with this contract, or Purchaser has other valid grounds for refusing to close, whether by reason of liens, encumbrances or other objections to title or otherwise (herein collectively called “Defects”), other than those subject to which Purchaser is obligated to accept title hereunder or which Purchaser may have waived and other than those which Seller has herein expressly agreed to remove, remedy or discharge and if Purchaser shall be unwilling to waive the same and to close title without abatement of the purchase price, then, except as hereinafter set forth, Seller shall have the right, at Seller’s sole election, either to take such action as Seller may deem advisable to remove, remedy, discharge or comply with such Defects or to cancel this contract; (ii) if Seller elects to take action to remove, remedy or comply with such Defects, Seller shall be entitled from time to time, upon Notice to Purchaser, to adjourn the date for Closing hereunder for a period or periods not exceeding 60 days in the aggregate (but not extending beyond the date upon which Purchaser’s mortgage commitment, if any, shall expire), and the date for Closing shall be adjourned to a date specified by Seller not beyond such period. If for any reason whatsoever, Seller shall not have succeeded in removing, remedying or complying with such Defects at the expiration of such adjournment(s), and if Purchaser shall still be unwilling to waive the same and to close title without abatement of the purchase price, then either party may cancel this contract by Notice to the other given within 10 days
13 – after such adjourned date; (iii) notwithstanding the foregoing, the existing mortgage (unless this sale is subject to the same) and any matter created by Seller after the date hereof shall be released, discharged or otherwise cured by Seller at or prior to Closing. (c) If this contract is cancelled pursuant to its terms, other than as a result of Purchaser’s default, this contract shall terminate and come to an end, and neither party shall have any further rights, obligations or liabilities against or to the other hereunder or otherwise, except that: (i) Seller shall promptly refund or cause the Escrowee to refund the Downpayment to Purchaser and, unless cancelled as a result of Purchaser’s default or pursuant to paragraph 8, to reimburse Purchaser for the net cost of examination of title, including any appropriate additional charges related thereto, and the net cost, if actually paid or incurred by Purchaser, for updating the existing survey of the Premises or of a new survey, and (ii) the obligations under paragraph 27 shall survive the termination of this contract.
Affidavit as to Judgments, Bankruptcies, etc. If a title examination discloses judgments, bankruptcies or other returns against persons having names the same as or similar to that of Seller, Seller shall deliver an affidavit at Closing showing that they are not against Seller.
Defaults and Remedies. (a) If Purchaser defaults hereunder, Seller’s sole remedy shall be to receive and retain the Downpayment as liquidated damages, it being agreed that Seller’s damages in case of Purchaser’s default might be impossible to ascertain and that the Downpayment constitutes a fair and reasonable amount of damages under the circumstances and is not a penalty. (b) If Seller defaults hereunder, Purchaser shall have such remedies as Purchaser shall be entitled to at law or in equity, including, but not limited to, specific performance.
Purchaser’s Lien. All money paid on account of this contract, and the reasonable expenses of examination of title to the Premises and of any survey and survey inspection charges, are hereby made liens on the Premises, but such liens shall not continue after default by Purchaser under this contract.
Notices. Any notice or other communication (“Notice”) shall be in writing and either (a) sent by either of the parties hereto or by their respective attorneys who are hereby authorized to do so on their behalf or by the Escrowee, by registered or certified mail, postage prepaid, or (b) delivered in person or by overnight courier, with receipt acknowledged, to the respective addresses given in this contract for the party and the Escrowee, to whom the Notice is to be given, or to such other address as such party or
14 – Escrowee shall hereafter designate by Notice given to the other party or parties and the Escrowee pursuant to this paragraph. Each Notice mailed shall be deemed given on the third business day following the date of mailing the same, except that any notice to Escrowee shall be deemed given only upon receipt by Escrowee and each Notice delivered in person or by overnight courier shall be deemed given when delivered, or (c) with respect to paragraph 7(b) or 20, sent by fax to the party’s attorney. Each notice by fax shall be deemed given when transmission is confirmed by the sender’s fax machine. A copy of each notice sent to a party shall also be sent to the party’s attorney. The attorneys for the parties are hereby authorized to give and receive on behalf of their clients all Notices and deliveries.
No Assignment. This contract may not be assigned by Purchaser without the prior written consent of Seller in each instance and any purported assignment(s) made without such consent shall be void.
Broker. Seller and Purchaser each represents and warrants to the other that it has not dealt with any real estate broker in connection with this sale other than
(“Broker”) and Seller shall pay Broker any commission earned pursuant to a separate agreement between Seller and Broker. Seller and Purchaser shall indemnify and defend each other against any costs, claims and expenses, including reasonable attorneys’ fees, arising out of the breach on their respective parts of any representation or agreement contained in this paragraph. The provisions of this paragraph shall survive Closing or, if Closing does not occur, the termination of this contract.
Miscellaneous. (a) All prior understandings, agreements, representations and warranties, oral or written, between Seller and Purchaser are merged in this contract; it completely expresses their full agreement and has been entered into after full investigation, neither party relying upon any statement made by anyone else that is not set forth in this contract. (b) Neither this contract nor any provision thereof may be waived, changed or cancelled except in writing. This contract shall also apply to and bind the heirs, distributes, legal representatives, successors and permitted assigns of the respective parties. The parties hereby authorize their respective attorneys to agree in writing to any changes in dates and time periods provided for in this contract. (c) Any singular word or term herein shall also be read as in the plural and the neuter shall include the masculine and feminine gender, whenever the sense of this contract may require it. (d) The captions in this contract are for convenience of reference only and in no way define, limit or describe the scope of this contract and shall not be considered in the interpretation of this contract or any provision hereof.
15 – (e) This contract shall not be binding or effective until duly executed and delivered by Seller and Purchaser. (f) Seller and Purchaser shall comply with IRC reporting requirements, if applicable. This subparagraph shall survive Closing. (g) Each party shall, at any time and from time to time, execute, acknowledge where appropriate and deliver such further instruments and documents and take such other action as may be reasonably requested by the other in order to carry out the intent and purpose of this contract. This subparagraph shall survive Closing. (h) This contract is intended for the exclusive benefit of the parties hereto and, except as otherwise expressly provided herein, shall not be for the benefit of, and shall not create any rights in, or be enforceable by, any other person or entity. (i) If applicable, the complete and fully executed disclosure of information on lead-based paint and/or lead-based paint hazards is attached hereto and made a part hereof. IN WITNESS WHEREOF, this contract has been duly executed by the parties hereto.
Seller Purchaser
Seller Purchaser Attorney for Seller: Attorney for Purchaser:
Credit scores In order to get a mortgage, especially one with a low interest rate, you usually need to have a good credit score. The most common scoring model is the FICO score, issued by Fair Isaac Corporation. Scores range from 300-850 – the higher, the better. Your score is calculated using data from your credit report, which is compiled by three bureaus: Equifax, Experian, and TransUnion. A lender may check your score from all three bureaus or only one. Many lenders require a score of at least 680 to get a mortgage, and those with a score in the mid-700s and above usually get the best interest rates. If your score is lower than 680, you may only qualify for sub-prime loans, which usually have a high interest rate, or find it difficult to get any loan.
The following are the factors used to calculate your credit score:
Payment history (35%): If you make a late payment, your score will take a hit. The more recent, frequent, and severe the lateness, the lower your score. Bankruptcies, judgments, and collection accounts have a serious negative impact.
Amounts owed (30%): Carrying high balances on revolving debt (like credit cards) and personal loans, especially if the balances are close to the credit limits, will lower your score.
Length of credit history (15%): The longer you have had your accounts, the better.
New credit (10%): Having recent inquiries and opening new accounts can lower your score. However, all mortgage or auto loan inquiries that occur within a short period of time are considered just one inquiry for scoring purposes, and you accessing your report does not affect your score.
Types of credit used (10%): Having a variety of accounts, such as credit cards, retail accounts, and loans, boosts your score.
Reviewing your credit report regularly is a good idea, but it is a particularly important to do so before seeking a mortgage. Even if you always make your payments on time and have a low level of debt, your credit report could contain score-lowering errors. Check your report at least 60 days before you plan to apply for financing, as it can take some time to resolve issues.
You can obtain your credit report from Experian, Equifax, and TransUnion free once a year through the Annual Credit Report Request Service. (Contact information is in Chapter 5.) Scores can be purchased for a fee. If you see any errors on your report, send a dispute letter to the relevant credit bureau(s) indicating which information is incorrect. They must investigate your claim and remove unverifiable information.
If your score is below the 680 mark, don’t despair. There are many things you can do to boost it:
From this point forward, always make your payments on time.
Repay collection accounts.
Pay down your debt. Keep balances under 40% of the credit limit.
If you already have 2-4 accounts open, avoid opening further accounts.
Teaching Real Estate 101 
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