Once you have been to your lender and you determine the loan product that best fits your needs, you will need to get pre-approved for the loan. Once you have your pre-approval letter from your lender in hand, your agent will assist you in making an offer. Unless you have a Buyer's Agent, the listing agent works for the seller. Make it a point to ask the agent to keep your discussions and information confidential.

Listen to your real estate agent's advice, but follow your own instincts on deciding a fair price. The agent cannot tell you what to offer for the home, but should provide you with comparable sold data for similar homes in the area to help you with your decisions. And be prepared for any give-and-take negotiation which is very common when buying a home. The buyer and seller may go back and forth for a while until they can agree on a price and terms. There are various factors that help determine value as well.

LOCATION: Proximity to recreation, shopping, schools, etc., and desirability of surrounding community
CONDITION: How well the property has been maintained
IMPROVEMENTS & ADDITIONS: Structural features, amenities, house and lot size
MARKET DIRECTION
FINANCING TRENDS
PRICE TRENDS
YEAR-TO-DATE TRENDS
CURRENT MARKET CONDITIONS
TOTAL NUMBER OF HOMES ON THE MARKET
NUMBER OF HOMES FOR SALE IN THE NEIGHBORHOOD
AVERAGE NEIGHBORHOOD PRICE RANGE
NUMBER OF COMPETING PROPERTIES NEARBY
AVERAGE LIST-TO-SALES PRICE RATIO
AVERAGE MARKET TIME
SUPPLY AND DEMAND: Current proportion of buyers to sellers