Here's what you need to know to understand the process.

Get Preapproved For A Mortgage Loan First Time Homebuying If an individual needs to sell quickly due to his or her personal situation, he or she may be more willing to negotiate. Your real estate agent should be able to advise you about potential problems that could affect your purchase. You can be pre-qualified by a lender, by a real estate agent or you can do it yourself.

Here's what you need to know to understand the process.