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Submitted by Lee West of Re/Max:
Many buyers are waiting for the "Market to Bottom Out." Traditionally, when the public feels the market has hit a low, many more jump into the pool. As more people are bidding on homes, sellers need not negotiate as much, therefore prices are higher. Jump in when inventory is high and properties have been on the market for awhile.
Make sure you understand what you’re signing! It just sounds like common sense, but you would be amazed how many families are in danger of foreclosure right now because they did not understand their mortgage terms and conditions. Hire a real estate attorney who practices in the county where your new home is located. Your home is probably the biggest purchase you will ever make and you want to be sure your interests are protected. Ask questions and if anything does not sound right or differs from what you were promised originally by your lender, have your attorney get clarification before you sign.