A place to call home

It depends on the loan, not on the house. Conventional loans often start around three to five per cent for a primary residence, FHA has its own floor, and VA and USDA can go to nothing for those who qualify. An investment property is usually the highest of the lot. The only number that matters is the one a lender will put in writing for you, so get that first and shop with it.

Looking, no. Offering, yes. Sellers here expect a pre-approval with an offer, and without one you are effectively asking them to take you on trust against someone who came prepared. It also tells you what you can actually spend before you fall for something above it.

From accepted offer to closing is commonly thirty to forty-five days with financing, and less with cash. The part nobody can time is the search: some buyers find the house in a day, others wait months for the right one in the street they want.

Budget for a few per cent of the purchase price on top of the deposit, covering lender fees, title work, insurance, taxes and prepaid items. Your lender's loan estimate itemises it properly, and some of it is negotiable between buyer and seller.

Often, yes, and there is more than one way to do it: an offer contingent on your sale, a bridge or second loan, or selling first and renting back. Each one changes how strong your offer looks and what it costs you. Which fits depends on your equity and your timing, so it is worth talking through before you are under pressure.

Compensation is negotiable and is now set out in writing before you tour. It may be offered by the seller, paid by you, or a combination, and the agreement says which before anyone starts. Ask for the figures on the specific property rather than a rule of thumb.