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Long Island, with its blend of peaceful seaside towns, lively suburban areas, and easy access to New York City, offers empty nesters and retirees many attractive choices for this new stage of life. If you're thinking about downsizing in Nassau or Suffolk County, here are some useful tips to help you through the process—and some reasons why this change could turn out to be one of your smartest decisions.
Why Moving to a Smaller Home Makes Sense
Moving to a smaller home can bring several advantages:
By: G. M. Filisko You've found your dream home. Make sure missteps don't prevent a successful closing. If a contract requires you to have a home inspection, schedule an appointment immediately. A home purchase isn't complete until you make it to the closing. Until then, the transaction can fall apart for many reasons. Here are five tips for avoiding mistakes that cause a home sale to crater. 1. Be truthful on your mortgage application You may think fudging your income a little or omitting debts when applying for a mortgage will go unnoticed. Not true. Lenders have become more diligent in verifying information on mortgage applications. If you fib, expect to be found out and denied the loan you need to fund your home purchase. Plus, intentionally lying on a mortgage application is a crime. 2. Hold off on big purchases Lenders double-check buyers' credit right before the closing to be sure their financial condition hasn't weakened. If you've opened new credit cards, significantly increas...
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