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I found Bristol to be a lovely place. Warren seemed nice too, although not as quaint as Bristol.
I looked at a couple of apartments, one was really a mess. The other was ok, but a bit expensive for my budget and not that great. I also talked with a couple of real estate agents ...first about rentals, and also about the idea of buying.
Does anyone have any input on short sales? gone this route as a buyer?
If you can find a good short sale- go for it- no reason not to. Bristol real estate is holding its own and doing pretty well, so I don't know how much of a selection of short sales you'd even find. The town has received much national attention for its "oldest 4th of July parade" and gets many tourists. I guess what I'm saying is that it's hardly undiscovered- it's a beautiful historic place with a real hometown feel.
The short sale process can take six months or even longer because the banks are overwhelmed with properties they are trying to unload. You should get approvals for financing for yourself and send copies of your approval letter along with your purchase offer to help move things along. IMO, it wouldn't help to be too independent with the bank which must approve the short sale, but don't obligate yourself to be left swinging in the wind while the bank committee dilly-dalys. Insist on including a clause that time is of the essence and the buyer requires acceptance of the offer within 60 days or you will withdraw the offer.
Thank you! That makes sense and good to know. There are quite a few out there on the market.
Regarding the other part of my OP, although Bristol is SO lovely, I don't think I'm realistically going to find something in my price range (200K to not put myself in a high-pressure situation). Although I do think about investment with property, I think the most important thing is to: find a place I want to live.
I think what makes it hard "out here" (as opposed to Nebraska) to find that place I want to live is that: 1) I simply don't know the area and it takes time. I won't have the luxury of renting in all the towns I would consider buying in, so it makes it hard to feel secure/certain about my choices 2) There are so many really good options. So many nice places. 3) Each town has its own stuff going on, good and bad. It's hard to sort all of this out and feel my decision is informed. 4) What I can get for my money. I wonder if I'll be able to even find a place I want to live with my budget.
You'll have a better chance of finding a place within your budget if you stay away from coastal towns and look into the rural part of western RI as was previously discussed. You said you wanted some land.
Then add northern RI rural areas- Burrillville, etc.
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