For many people, making the decision to buy their first home causes a significant amount of anxiety. The fear of the commitment to homeownership can paralyze people to the extent that they never buy a home. Attending a first time home buyer seminar can greatly reduce the stress.

What is a First Time Home Buyer Seminar?

Real estate professionals will occasionally invite the public to attend a free seminar designed to teach renters how to buy their first home. The educators are typically a combination of a real estate agent and a mortgage lender, but might also include a home inspector, accountant or attorney. After an hour or so of education they will typically open the forum for questions and answers from the attendees. It is typically an informal event designed to educate those in attendance on the process of buying a home.

In the seminar you will learn about several topics, usually starting with the purpose of getting preapproved for mortgage financing. This part is a critical first step as real estate agents will usually only begin showing you properties after you have received a preapproval from a mortgage lender. Without this, there is a possibility that you and the agent will have spent a great deal of time looking at houses only to find out after writing a purchase contract that you are not yet eligible for home mortgage financing.

The real estate agent who is conducting the seminar will then talk about how to search for homes. You will learn about the collaborative effort that must take place between you and the agent. One of the most important parts of this process is your initial meeting with the agent in which together you arrive a property type, price range and location. At the first time seminar you will have a chance to meet the agent who is conducting it to see if you feel like you can develop a working relationship with them. The agent will make it clear, however, that there is no obligation to work with any of the educators at the seminar just because you attended.

Just as buying a home is a complicated matter, you will no doubt have questions at the end of the seminar. Be prepared to ask your questions and take notes.

If you are thinking of buying a home, look for a first time home buyer seminar to attend near your home or place of business. You'll find that the relatively small investment of time to attend the seminar will be well worth your time.