It's an interesting time to be shopping for a new home. First-time home buyers will have the benefit of not having to sell a home in a down market in order to buy their new home. Current homeowners will have a slightly more difficult time, as they will be receiving less value from their home than they originally expected, but will also be able to get into a new home for less than expected. Find a good real estate agent, and they will go a long way toward steering you through the potential minefield of the modern housing market. Your real estate agent may also be able to put you in touch with a good mortgage broker. You'll be enjoying your new house before you know it!
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Buying A Distressed Property

To expedite the purchasing process, get your financing in order in advance. Once you qualify for a loan, you will improve your chances.

Hire a qualified real estate agent conversant with the neighborhood to assess the home that interests you. Inspect the house to estimate what repairs will be required. Do a title search to discover any liens or other liabilities tied to the property. This advanced legwork will help set the wheels in motion. It will also give you a boon over other interested bidders.