Making an offer to buy a home is an exciting event. Be sure that you are definitely ready and have found the house you really want though, before making the offer because it becomes a legal contract after a few days if the seller accepts your offer. With that in mind here are some steps to take before making the offer.

1. Find out how much you can afford to spend on a home. You can either consult someone such as a mortgage broker or lender or you can use an online calculator like this one.

2. Decide if you want a fixed-rate or adjustable-rate mortgage.

3. Figure out how much money you can afford for a down payment. Usually you will be required to put down between 5% and 20%, depending on the loan.

4. Get your loan! Get pre-qualified so you know how much you can afford.

5. Find a reliable company to do inspections and agree upon which inspections will be done with the current owner.

6. Negotiate a price. The seller will have an asking price and you or your broker will make an offer. The seller will either accept or counter-offer.

Once the seller accepts your offer you that’s it so make sure you double check and understand everything you sign.