Sep
 
21
 

New construction is booming throughout Northeast Florida and has left buyers with an important decision to make: buy a new home or a previously owned home. We recently sat down with Bank of England Production Manager Troy Silhan for tips to help homebuyers understand the differences in the buying process and how to avoid issues.

According to Troy, the buying process is essentially the same from pre-approval through closing, but there are a few distinctions. His advice is to follow a few simple guidelines: determine your priorities early, utilize a Realtor’s expertise and thoroughly understand the contract.

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Almost 10 years ago, the U.S. housing market turned downward and many Americans lost their homes to foreclosure. As a result, these families moved to rental homes, apartments and condos, waiting for the right time to buy again.

Now that the market has recovered, “boomerang buyers” as they’re called, are returning to the market ready to jump back in. However, many others still don’t know if they’re financially ready.

Bank of England Production Manager Troy Silhan recently explained how boomerang buyers can know when they’re ready, as well as what they can expect in this new market.

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