Are you a first time home buyer? Have you bought and sold many properties? It is always a good idea, regardless of your level of home buying expertise to follow these important tips when taking the plunge on your next real estate transaction.

1. Find a great agent – The real estate agent that you select can make or break the success of your transaction. Make sure you select an agent that is well experienced that understand your needs. Investors need to find agents that understand the bottom line and first time home buyers need to find an agent that will take the time to explain each step of the transaction.

2. Financing – If you are financing your next property than you will need to find a lender that is honest and can lead you in the right direction depending on your situation. The best advertised rate may not be in your best interest. Many lenders charge points or fees to make their rate appear lower than their competition. If you see a rate or loan program that looks to good to be true, than examine the fine print.

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. Trust your gut – If you walk into a home and it doesn’t feel right there’s a reason, it’s not the right home for you. Make sure your house or condo feels like home.

5. Seller Disclosures – When you receive disclosures from the seller don’t just glance and sign. Reviewing the disclosures with your agent could arguably be the most critical aspect of the transaction. There’s a reason why the most real estate litigation occurs around disclosures.

6. Understand your market – Like any big purchase you need to do your research. Knowledge is power in real estate, and each local market can be very different. If you’re relocating in to a different market than have an understanding what your purchasing power is. Your dollar will go a lot further in purchasing a home in Fort Knox, Kentucky than in San Francisco, California.

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. Get a Warranty – Yes even resale and foreclosure homes can get home warranties. They are a great investment for peace of mind during the first year or so in your new residence.

Most importantly you want to make sure that you are working with services that have your best interest in mind. That way your agent, your loan officer, your title officer, your inspector, and escrow officer (depending on your state) are all working for you to make sure you make a sound purchase that you are happy with. Buying a home needs to be an exciting and positive experience so make sure you have the right team working for you so you can minimize the headaches.