Have an inspection done by a professional. Don't take the sellers word that they have made repairs. Unless you are buying a new house where you have warranties on most equipment, it is highly recommended that you get a property inspection, a roof inspection, and a termite inspection. This way, you know exactly what you are buying. Inspection reports can be great negotiating tools when it comes to asking the seller to make repairs. If a professional home inspector states that certain repairs be done, the seller is more likely to agree to do them.

Remember that just because a mortgage broker or a bank, says that you can afford the home you are looking at, does not mean that you can actually afford, or feel comfortable with, the monthly payments. Know exactly what the monthly payments are, including taxes, insurance, assosciation fees (if applicable), and any other fees that may be assosciated with the home on a monthly/yearly basis. Once you know the total cost of owning that home, then decide if it is affordable, while taking into consideration all of your other monthly bills. The last thing you would want to do is rush into a house, that you are unable to afford in the long run.

Do not choose a lender just because they have the lowest rate. Not getting a written good faith estimate. While rate is important, look at the overall cost of your loan. This includes looking aty the APR, the loan fees, as well as the discount and origination points.

Get your rate lock in writing. Get a written statement which details the interest rate, the length of the rate lock, and detail about the program. This will save you a lot of trouble if rates increase.

Many Realtors will not show you homes before being pre-approved because they do not want to waste your time, their time, and the seller's time.

Do not sign documents without reading them. Do not sign documents in a hurry. Whenever possible try to get documents that you will be signing ahead of time so you can review them. It is advisable to ask for a copy of all loan papers you are signing a few days ahead of the close of escrow. This way you can review them and get your questions answered. Do not expect to read all the documents during the closing - there is rarely enough time for that.

Always order a title search and purchase title insurance for the property you are buying. Mortgage banks always require a title search and title insurance. Even if you are buying from a trusted relative or friend and pay with cash or have the seller provide financing, without involving a bank loan, don't be tempted to skip title search to save on closing costs. The fact is, title defects can stem from a time before the sellers took possession of the property. While the title insurance the sellers purchased when they bought the home protects them for as long as they own the home, that policy does not protect you. The one-time cost of a title search and title insurance may save you from a potential investment disaster.

Do not bid on a house that you have only looked at once. Many home buyers are busy with their lives like everyone else, so they look at homes when they have time, evenings and weekends. Make sure if you find a home you like, you go back and walk through it again at least once at a different time.

If there is something unusual about the home or the property that you think you can fix once you own it, make sure you know what you are getting into. Get estimates for the work, talk to a contractor, or your local government to see if you will need any special permits. DO NOT go on the word of your realtor, home inspector or appraiser, they are all very knowledgeable and can give you guidance, but ask others as well. You don’t want to end up in a home with a huge eye-sore that you can do nothing about.

If there is something in particular that is on the property that you want to remain with the porperty when you purchase it then make sure it's in the contract. You can avoid many headaches by putting everything in writing. This also means any repairs that show up on the inspection report you will want the seller to do before you purchase should be put in writing.