In most cases, the seller pays the commission, so professional representation is usually free for you. A good agent will find listings, schedule viewings, and—most importantly—handle the intense negotiations. 4. Know Your "Must-Haves" vs. "Nice-to-Haves"
While 20% is the gold standard to avoid private mortgage insurance (PMI), many first-time programs allow as little as 3% or 3.5% down.
Avoid making any large purchases (like a new car or furniture on credit) between your pre-approval and closing day, as this can disqualify your loan at the last minute! how to buy my first home
When you find "the one," your agent will help you determine a fair price based on "comps" (what similar homes nearby sold for). Don't be afraid to ask for a "seller concession" to help cover your closing costs if the house needs minor repairs. 6. The "Due Diligence" Phase
A "pre-qualification" is a guess; a is a commitment. It shows sellers you are a serious, vetted buyer. Shop around with at least three lenders to compare interest rates and loan terms. 3. Find a "Buyer’s Agent" In most cases, the seller pays the commission,
You’ll sign a mountain of paperwork, pay your remaining down payment and closing costs, and finally receive the keys.
Once your offer is accepted, you enter escrow. Never skip these two steps: Know Your "Must-Haves" vs
Paint colors, carpet, or landscaping (these are easy to change later). 5. Make an Offer and Negotiate
