Buyer's Bible

Real Estate Agent with The Freedom Group - Keller Williams Realty Infinity 471.009781

Buyer's Bible

10 Commandments for Home Buyers

Follow these commandments and you'll find buying a home to be much easier with few speedbumps, wrong turns and money pits.

Image: Arvind Balaraman / 

I. I am your agent and thou shalt not worship other agents.    Do not work with multiple agents at the same time.  We don't get paid unless you close on a home and we don't like working and having someone else get paid.  As soon as you start viewing homes, you should commit to one true agent.  Before you start viewing homes.....

II.  Thou shalt get preapproved for a loan.  This is your shopping pass and means that you are ready to buy a home.  Without a preapproval you are probably wasting your time, your agent's time and the seller's time if you're scheduling showings.  Nobody likes to waste time.  Most lenders will be able to provide a preapproval within 24 hours.

III. Thou shalt not ruin your credit.  Between the time you get preapproved and the time you close, DO NOT open or try to open new lines of credit.  As few as 1 inquiry can lower your score and cause you lose your ability to buy a home.  Opening up a department store credit card to buy a pack of gum is not worth it.

IV. Thou shalt do your research.  Nearly 90% of buyers start their searches on the internet.  This is a great start but you should also make sure that any homes you're interested in are in the right neighborhood, school district, etc.  Again, nobody wants to waste time driving around town on a Saturday afternoon when they could be at home with their family because nobody bothered to find out that all 5 homes you want to see are in the "bad school district".  Become an expert at home buying.  Together, you and your agent will do great things.

V.  Thou shalt act decisively.
 Do not find the perfect house and hope to wait until the seller decides to lower the price into your comfort zone.  Go make an offer instead and persuade the seller that your offer is good.   Waiting only encourages other people to buy your house.  If you find the perfect house at the perfect price, make an offer now.  Other people are looking for it, too, and it won't take them long to find it.  Multiple offers only benefit the seller. See Commandment 6.

VI.  Respect your agent's advice
.  Your agent is on your side and is drawing from past experiences in providing you advice on how to help you accomplish your goal of buying a home.  Please listen to your agent's recommendations.  Most sellers will not (happily) drop 30% off their asking price.  They probably priced it where they did for a reason.  Go back to Commandment 4 for more explanation.

VII.  Honor your mother and father.  Let them have their say, but take their advice (and anybody else who won't be living in the house with you) with a grain of salt.  While their intentions are good, outside influences are more likely to cause you to second guess your choices.  They also haven't done the research you have (see #4) and will lead you astray.  See # 6 for what to do next.

VIII.  Don't believe everything you hear from your brother-in-law (or whoever).  Contrary to popular belief, cash is not king.  A home is not an investment that will make you rich.  There are no perfect homes at perfect prices (they'd already be sold before they hit the MLS).  Fill in the blank on whatever so and so told you.  There is a lot of misinformation out there.  Rely on your lender and agent to provide you with advice.  Read as much as you can about the home buying process.  The same as #7, don't let people who have little or no experience buying and selling homes to be the expert.

IV.  Thou shalt not bear false witness against your agent nor lender nor attorney.
 The truth is required for all of us working for you to give you the best service.  Do not lie about how much you're able to put down as a down payment, how much money you make or anything else.  

X.  Thou shalt not covet thy neighbor's house.  Do not keep looking for a house after you've entered into a contract to buy.  You are committed to your house now and looking at other homes is cheating.  Don't even think about asking your agent to schedule a showing for you.  

Observe the 10 Commandments of Home Buying and you'll be going from homeless to homeowner with no trouble at all.  

Renter's Bible - 8 Commandments for Renters.  A follow up to the Buyer's Bible. 

Posted by


Steve serves the real estate needs of buyers and sellers in Shorewood, Plainfield, Joliet, Crest Hill, Romeoville, Bolingbrook, Oswego, Minooka, New Lenox, Aurora, Naperville and NW Will County.  Specializing in short sales, investment properties and first time home buyers, Steve attacks problems with a tenacious outside the box approach and keeps working where many others would have given up.   

To learn more visit or download my mobile app. Specializing in Shorewood IL Real Estate, Plainfield IL Real Estate, Joliet IL Real Estate, Minooka IL Real Estate, Channahon IL Real Estate, New Lenox IL Real Estate, Oswego IL Real Estate, Bolingbrook, IL Real Estate, Romeoville IL Real Estate, Naperville IL Real Estate. Buyers can save between $1,000 and $5,000 by working with us! 


Comments (17)

Rosalie Evans
Meritus Group Real Estate - Sioux Falls, SD
The Evans Group, Sioux Falls, SD Homes For Sale

This is a great post and if it is not featured I certainly do not know why!! I liked it so much I stole it and reblogged! Hope you have a great weekend Steve!

Aug 25, 2011 05:52 PM
MichelleCherie Carr Crowe .Just Call. 408-252-8900
Get Results Team...Just Call (408) 252-8900! . DRE #00901962 . Licensed to Sell since 1985 . Altas Realty - San Jose, CA
Family Helping Families Buy & Sell Homes 40+ Years

Very good list, I have a similar list of "10 Commandments" I've used for years, too.

Aug 25, 2011 05:53 PM
Jason Watton
Realty One Group of Scottsdale, AZ - Scottsdale, AZ
Realtor - Scottsdale Arizona Homes for Sale

Nicely done with just enough humor and truth Steve.  Hopefully you find many Shorewood "homeless" heading your way! 

Aug 25, 2011 06:56 PM
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

Ok now we are talking.  Where do I get my copy for my clients.

Aug 25, 2011 07:03 PM
Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL
708.921.6331 - 40+ yrs experience

SOooooooo suggested, Steve!  Can I change just a few words and make it applicable to lenders??  Certainly would fit these days ...


Aug 26, 2011 09:31 AM
Louise Thaxton NMLS 69996
Fairway Independent Mortgage Corp Louisiana NMLS#2289 Equal Housing Lender - Leesville, LA
Military Mtg Specialist - 866-960-9115 VA FHA USDA

I LOVE it!  I have "suggested" - hope it is featured!  Now if people would just OBEY the "Thou shalt's......"


Aug 30, 2011 07:48 AM
Steve Roake
The Freedom Group - Keller Williams Realty Infinity - Naperville, IL
Make Moving Easy!

Gene, I'd be interested to see the lender's 10 commandments. 

Thanks all for suggesting!

Sep 03, 2011 08:15 AM
Patricia Kennedy
RLAH Real Estate - Washington, DC
Home in the Capital

Hey, Steve!  I included this post inLast Week's Favorites.   Have a great Sunday!

Sep 04, 2011 02:37 AM
John Michailidis
Real Property Management of Sarasota & Manatee - Sarasota, FL
Real Property Management of Sarasota & M

I like it! A great post that I enjoyed reading! Thank you!

Sep 04, 2011 05:09 AM
Roseanne Campagna
John L. Scott RE Maple Valley, WA - Maple Valley, WA
Kent/DesMoines/Blk Diamond/Renton/Maple Valley, WA

As you probably know, this is a great post. I reblogged it and also suggested it. Thanks for a really clear article.

Sep 04, 2011 05:16 AM
Mike Yeo
3:16 team REALTY - Frisco, TX

What a great 10 commandments. Thanks for putting this together. I might have to print this out and hand them to potential clients. HAHA!

Sep 04, 2011 05:25 AM
Tammie White, Broker
Franklin Homes Realty LLC - Franklin, TN
Franklin TN Homes for Sale

Like Mike, I may have to use this when sitting down for my buyer's consultation. This would definitely make a great handout.

Sep 04, 2011 07:35 AM
Sharon Alters
Coldwell Banker Vanguard Realty - 904-673-2308 - Fleming Island, FL
Realtor - Homes for Sale Fleming Island FL

Mike, a wonderful post with humor and timeless truth. You made points that I have written posts on before but you pulled it all together in a wonderful way!


Sep 04, 2011 01:00 PM
Dr. Stacey-Ann Baugh
Century 21 New Millennium - Upper Marlboro, MD
A doctor who makes house calls.

This is a great post.  I'm glad Patricia Kennedy highlighted it.  I suggested it for a feature.

Sep 04, 2011 03:07 PM
Steve Roake
The Freedom Group - Keller Williams Realty Infinity - Naperville, IL
Make Moving Easy!

Thank you for all the support on my candidacy for a featured post.  

A buyer just pointed me toward Commandment 11.  Thou shalt not be cheap.  Get a home inspection instead of letting Uncle Bob the handyman do it for you.  He won't be as thorough and for less than one tenth of 1 percent of the purchase price, you'll know if your new home is in good shape or not.

Sep 05, 2011 10:56 AM
Steve Roake
The Freedom Group - Keller Williams Realty Infinity - Naperville, IL
Make Moving Easy!

I've just created a follow up to the Buyer's Bible.  The Renter's Bible is now available!

Sep 17, 2011 07:10 AM
Boob Booby

This is a good looking home and the view of the pond makes it even more attractive. Sunrise and Sunset should be beautidul on the pond. argumentative essay

Oct 13, 2011 11:25 PM