What Every Homebuyer Needs to Know Before Signing a Contract When buying a home, one of the most important protections for a buyer is the bank appraisal contingency . This clause safeguards you if the home’s appraised value comes in lower than the agreed-upon contract price. Why does this matter? Because lenders base the loan amount on the lower of the contract price or the appraised value not the higher number. What Is a Bank Appraisal Contingency? A

If you’ve been wondering “What’s really happening in the Nassau County housing market?” the answer is in the numbers. In just the last 30 days, 12 single-family homes across Nassau County successfully sold between $600,000 and $700,000 . This price range continues to be one of the most active segments of the market, proving that well-priced homes are still moving and motivated buyers are very much out there. Whether you’re planning to buy or sell, here’s what the market actu

A recent case is making waves in the real estate world: a homebuyer was ordered to pay $24,000  after violating their Exclusive Buyer Representation Agreement . Under the new NAR rules , this agreement isn’t just paperwork it’s a binding contract  that creates a legal relationship between you and the brokerage representing you. And in New York, it’s required before  a buyer tours any  property with an agent or broker. If you’re planning to buy a home, especially in Queens or

Going under contract  on a home is an exciting milestone especially for first-time buyers. But what happens if something changes? Are you stuck , or do you still have options? Good news: Being “under contract” doesn’t always mean the deal is final. In many cases, buyers can  cancel as long as it’s done properly  and within the rules of the contract. Here’s what every first-time homebuyer in Queens and Long Island  should know: ✅ Your Contract Controls Everythin

Stepping into the world of homeownership for the first time can feel overwhelming but it doesn’t have to be. Before you start touring homes across Queens or Long Island, it’s important to understand who’s on your homebuying team  and when each professional plays a role. In our latest video, we break down exactly who helps you from start to finish, so you feel confident and prepared every step of the way. 🔑 YOU (the Buyer) – The Decision Maker Everything begins

If you’re buying or selling a home in Queens or Long Island , here’s a quick insider tip from the LJ Realty Team  🗺️: Some lenders may require two appraisals  on certain home resales especially in “flip” transactions  or when additional quality control checks  (called overlays) come into play. 💡 What Does That Mean? When a property is recently purchased, renovated, and quickly resold (often within 90–180 days), lenders sometimes flag it as a flip

When buying a home in Queens, it’s important to understand the different taxes  involved in the transaction. Knowing who pays Transfer Tax  and Mortgage Recording Tax (MRT)  can help you budget accurately and avoid surprises at closing. 💰 1. Transfer Taxes (Seller Responsibility) If you’re purchasing a home at $750,000 with 10% down , here’s what the transfer taxes look like: NYC Real Property Transfer Tax (RPTT):  1.425% NYS Transfer Tax:  0.4% Who pays?  Typically, these t

When purchasing a home with a mortgage, there’s one important cost you’ll encounter at closing that often catches buyers off guard the Mortgage Recording Fee . This fee covers the cost of officially recording your mortgage with the county , ensuring your lender’s lien on the property is properly documented in public records. It’s based on your loan amount , not  the total purchase price. 🏛️ What’s Included in Mortgage Recording Fees These are gove

Before you sign those closing papers and officially become a homeowner, there’s one crucial step  you should never  skip the Final Walk-Through . 👣✨ This is your last opportunity  to ensure everything is exactly as agreed before the keys are in your hand. Here’s why it matters so much: ✅ 1. Confirm the Condition Make sure the home is in the same (or better!) condition  as when you made your offer. Check for any new damage, leaks, or unexpected issues that might have appeared

When you see “As-Is”  on a property listing, it means the seller isn’t planning to make repairs or offer credits but that doesn’t mean you should skip your due diligence! Here’s what every buyer should know before moving forward 👇 🔹 1. Property Condition: You’re purchasing the home in its current state. Always schedule a professional home inspection  to uncover any hidden issues like foundation cracks, roof leaks, or plumbing problems. 🔹 2. Clear Title: “As-Is” does not

Buying your first home is exciting but it’s also a huge financial and emotional step. One pitfall many new buyers don’t know about is the...

At LJ Realty Team , we believe informed clients make confident decisions. So here are the Top 5 Deal-Killers  that can derail a real estate transaction—plus a few tips to help you stay ahead of the curve. Ever get excited about a real estate deal, only to hear it fell apart at the last minute? You’re not alone. Whether you’re a first-time buyer , a seasoned investor , or selling your home , knowing what can go wrong is key to making it right. 1

The East Meadow real estate market  is showing no signs of slowing down and it’s still a seller’s market!  Whether you’re thinking of buying, selling, or investing, understanding the local numbers is key to making the right move. 📊 Market Highlights ✅ Homes are selling at 104.2% of list price  – Buyers are competing, and many homes are selling above asking. ✅ Average days on market: 21  

Many first-time homebuyers breathe a sigh of relief once they lock in a 30-year fixed mortgage thinking their payment will never change....

Dreaming of homeownership but worried about the down payment? You're not alone—and you're not out of options! At LJ Realty Team , we're...

Buying a home is a major milestone but before the excitement of submitting an offer takes over, it’s crucial to understand what you’re...

Buying a home is exciting, but don’t let hidden issues cost you later! Here are 6 major red flags  to watch for: ❌ Foundation Cracks  –...