Alison Bentley

Making an offer is one of the most important steps in the homebuying process. It’s the point where you find out if the home will be yours or not. From deciding how much to offer to choosing contingencies and earnest money, and preparing for negotiations, there’s a lot to consider.

If you’re shopping for a home, you may come across properties listed “as-is.” This means the seller isn’t making repairs or offering credits for defects and the buyer must be willing to accept the home exactly as it currently is.

Buying a home is an exciting time, whether this is your first time purchasing a house or you’re a repeat buyer. But if you’ve owned a home before, you may be wondering if you can be a first-time home buyer again. In some cases, yes, you can.

A pre-qualification is an estimate of how much you might be able to borrow, based on basic financial info you provide. A pre-approval is a conditional offer from a lender stating how much they’re likely to lend you, pending final underwriting. Pre-approvals hold more weight during the homebuying process than pre-qualification.

Contingent homes mean the seller has accepted an offer, but they’re still active listings. Pending homes are no longer active listings and are in the process of being sold. Contingencies are specific conditions that must be met during a real estate transaction. If they aren’t met, then a buyer or seller is legally allowed to back out of the deal.

Buying a home isn’t just about having a place to live; it’s one of the most reliable ways to build long-term wealth. While renting can offer flexibility, owning a home lets you build equity, benefit from potential appreciation, and access valuable tax advantages. Over the years, increasing equity and financial stability can turn your home into a valuable long-term asset.

If you’re a renter and planning to buy your first home, it’s undoubtedly a big step in your life. It also raises an important question: what happens to your lease if the right home comes along before it ends? The short answer: you can break a lease when you buy a house, but purchasing a home doesn’t automatically let you leave without penalties. What happens depends on the terms in your lease and the laws in your state.

Whether you’re considering buying your first house or are looking for a new place to call home, you may be wondering if buying land is right for you. As a first-time land buyer, there are several key differences to know before embarking on your search, from zoning and utilities to financing and site conditions.

Buying a home at auction may give you a lower price, but you could risk overpaying. Auctions are held online or in person, but you’ll need to show proof of funds in advance. Research the property in advance to identify red flags, such as liens or major repairs.