1. Buyer’s Agent – Find an agent that is experienced in working with buyers like you. If you’re a first time home buyer there are loan programs and tax incentives that the agent can introduce to you. Also you may not understand the nuances of buying a home and will require additional explanation of the process and “hand holding”. Investors will need a buyer’s agent that is familiar with real estate trends and income potential.

2. Lender – Find a loan officer and lender you are comfortable with and you can trust. Be aware that if it sounds too good to be true than read the fine print. If you are comfortable working with a lender but you find a better rate elsewhere, give the lender the opportunity to match the best terms and rate. Make sure your lender gives you a good faith estimate or GFE that includes factors such as property taxes, local area assessments, home owner association fees and community fees if they apply. If a rate is substantially lower than the competition, the lender is most likely charging you points or additional fees to lower the rate.

3. Your Ideal Home – Make a list of what you need to have in your next home and what you want to have in your next home. Always give extra weight to your location. Remember you can’t change the location of your home, but you can always remodel the kitchen.

4. Does it Feel Right – Your home evokes a feeling as much as a place to protect you from the elements. Make sure that you feel comfortable in your new home. Most buyers know in the first 15 seconds whether it is the right home for them. Trust your instinct.

5. Disclosures – You must read all of the disclosures that are provided by the seller. If you don’t understand something or it’s ambiguous, than get an explanation. Disclosures are not be taken lightly, they are the number one reason for real estate related law suites.

6. Know your area – Spend the time and effort to understand what is going on in your future neighborhood. Every area can be different, so it would be good to know how far your dollar goes in the community your interested in.

7. Proceed with Caution – Make sure that you get answers to all of your questions from the proper professionals. If you have a geological question get an answer from a geological engineer. If you have plumbing question, talk to a plumber. It sounds kind of stupid, but homes can be complicated, so seek the right professional to answer you specific questions.

8. Know how to Negotiate – Negotiating requires a knowledge about what you’re negotiating. It’s not a good deal of you don’t know what a good deal is. Fifteen percent off a home that is overpriced thirty percent is not a good deal. Five percent off a home that isn’t overpriced can be a good bargain. Understanding the value of the home before making an offer is essential. Use the comparable properties that are similar to the one you are making an offer on as your ammunition for a bargain.

9. Home inspection – Always get a home inspection by a reputable professional. No exceptions! It doesn’t matter if it’s a bank owned home, short sale, new construction or resale. Get a home inspection. Once you have had an inspection than evaluate whether you are willing to do the repairs, you want the seller to do the repairs or if it is beyond repair and you need to look for a new home.

10. A Warranty – Home warranties are excellent investments if you are concerned about common homeowner challenges. For a reasonable cost you can have peace of mind. Also in a buyers market the seller will usually throw one in for you for free.

The home buying process can be a lot of fun and exciting if you have the right team of professional helping you. If ever you are in doubt ask lots of questions. Owning a home can be one of the most rewarding things you ever experience, just be cautious and consider these tips.

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