Long Island Real Estate Website Give Tips To First Time Home Buyers About To Purchasing A Home

    NESCONSET, NY, October 18, 2009 /24-7PressRelease/ -- Today, there are a variety of great deals on Long Island homes. Home buyers have the advantage of choosing a variety of ways when it comes to purchasing a house in Nassau or Suffolk County. There are foreclosures, real estate auctions, first time home buyer grants and even grants for affordable housing.
The first thing home buyers should be aware of when purchasing a foreclosure is the condition of the home. A home that sells for less than $300,000 can actually cost a home buyer a lot more, especially if the home needs major repairs.

Another important factor a home buyer should know, especially for first time home buyers, is the area the home is located in. Home buyers should also consider the taxes, school districts and the neighborhoods.
When buying a foreclosure, home buyers are also advised to consider the condition of the property. Since foreclosures are sold on an 'as is' basis, real estate experts at LongIslandRealEstateSite.com advises home buyers to hire the services of a real estate professional to inspect the physical condition of the property.

The next step is to compare the selling price against the estimated amount it will cost a home for repair. This method prevents a person from investing more than what a home is actually worth.
Home buyers are also advised to check for secondary liens and claims. Often times, the previous homeowner will not make full disclosure. This leaves the buyer with creditors knocking on their door. Before purchasing a home, buyers should make sure the title or deed is clear.

Buyers should make sure they fully investigate before purchasing a foreclosed home no matter how good the deal may be. It is important to know the real estate market value of the home including the homes within the neighborhood. When a seller is asking for a price that is too high, the buyer is free to negotiate a reduced price.

About LongIslandRealEstateSite.com
LongIslandRealEstateSite.com is a web site offering Long Island real estate buyers, real estate investors, first time home buyers, for sale by owner, real estate brokers and real estate agents real estate tips. Users have free access to a host of real estate resources.

Long Island Real Estate
631-334-4359
http://www.longislandrealestatesite.com

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