Buyer School
A practical road map from “I’m thinking about buying” through keys in hand—written in plain language so you know what questions to ask and what decisions matter.
Ten checkpoints that protect your decision
Every transaction is different. Your signed contract, lender requirements, inspections, disclosures, HOA documents, title documents and professional advice control the actual transaction.
Know your budget before shopping
Review income, monthly debts, savings, reserves, credit and likely housing expenses. Preapproval is stronger than guessing from an online payment calculator.
- Separate cash needed from monthly affordability.
- Plan for taxes, insurance, HOA/land lease and maintenance.
- Avoid new debt or major credit changes during escrow.
Compare the whole loan, not only the rate
Rate, APR, points, lender fees, mortgage insurance, term, prepayment features and cash-to-close all matter. Manufactured-home/chattel financing can operate differently from conventional real-estate loans.
Run preliminary ACP scenarios →Evaluate the home and the ownership structure
Look beyond cosmetics. Consider condition, neighborhood, utilities, insurance availability, property taxes, HOA or park rules, land lease, parking, access and future resale.
Use the Home Showing Checklist →Price is only one part of an offer
Deposit, financing, closing date, contingencies, credits, included items, possession, repairs and other terms can change risk. A below-list offer can be lawful and reasonable when supported by condition, comparable sales, market time or seller circumstances.
Read Making a Strong Offer →Understand what you are giving up before removing protection
Inspection, loan and appraisal contingencies can create important contractual rights. Removing a contingency can increase deposit and performance risk.
Read the Contingencies Guide →Inspect, investigate and verify
A general home inspection is only a starting point. Findings may lead to roof, HVAC, sewer, pool, foundation, pest/WDO, electrical, plumbing, environmental or other specialist reviews.
ACP does not replace licensed inspectors, engineers or environmental professionals.
Read the association’s finances and rules
Budgets, reserves, assessments, insurance, litigation, deferred maintenance, minutes and lending eligibility can affect monthly cost, financing and resale.
Open HOA Financial Health Review →Know what affects ownership and the property
Review the preliminary title report, vesting, liens, easements, CC&Rs and exceptions. Natural-hazard disclosures identify mapped hazard conditions that may warrant insurance or specialist follow-up.
Open Title & NHD review tools →Never trust changed wiring instructions
Independently verify wiring instructions using a trusted phone number before sending funds. Do not rely on an emailed “updated” account number or reply to a suspicious message.
Read Wire Fraud Safety →Final walk-through is verification, not a new inspection contingency
Confirm the property is in expected condition, agreed repairs appear complete and included items remain. Review final lender and escrow figures before signing and funding.
Open Final Walk-Through Guide →Short sales and non-standard transactions
Buying a short sale
A seller may accept your offer, but the seller’s lender may still need to approve the payoff terms. Approval can take longer than a standard sale, lender conditions may change, and the property is commonly sold as-is. Keep financing, inspections, timing and backup housing flexible.
Manufactured homes
Confirm whether the home is real property or personal property, whether land is owned or leased, park approval requirements, space rent, utilities, registration/title status, financing type and resale restrictions.