MULTI-FAMILY HOMES

By Robin Shapiro

I’ve been getting calls for legal two families and legal three families lately. Multi-family homes have become especially attractive as mortgage rates have increased. Frequently, multi-family homes come with tenants living in them. This can be great, providing a built-in income for the new owner from someone who’d like to remain in the property after it is sold. The new owner wouldn’t have to advertise for a new tenant. However, if the new owner needs extra space, then he can dictate that the house be sold and delivered EMPTY. This can be written into the purchase contract. The existing tenant would be given plenty of time to find a new apartment before the closing date on the sale of the property.

Mortgages can sometimes be a bit different for multi-family dwellings. You might need a slightly higher down payment (although this can vary a bit). I have some excellent inventory now at attractive prices. See my Rockaway Times advertisement or view my website.

Tomorrow is Good Friday, and this Sunday is Easter Sunday. NYC public schools are closed Friday through Monday for the Easter weekend.  Best wishes for Easter and the season ahead. Call me. Love, Robin.