How to get the most out of your real estate purchase
Real estate is a big deal in New York.
But it can be tough to get your feet wet in the industry.
Here’s everything you need to know about buying a home.1.
Get a mortgage.
There are a few different types of mortgages.
Here are some of the common ones: Home equity lines of credit (HELOC) from a bank or broker, line of credit from a mutual fund, and mortgage from a home equity line of trust (HOLT).2.
Make sure you’re ready to go.
The first step in getting started is to talk to an agent or real estate broker to get a feel for the type of real estate you’re looking at.
There’s a whole list of factors that go into a successful purchase.3.
Talk to your agent.
There can be a lot of misconceptions about buying real estate.
We talked to agents who specialize in the real estate industry and got a good sense of what you’re dealing with.4.
Go to your local brokerage.
Many brokers will be happy to answer any questions you might have about buying and selling homes in your neighborhood.
Some brokers will even offer you free or low-cost services.
If you have any additional questions, contact your local real estate agency, or call the New York State Department of Banking and Insurance at 1-800-577-0444.