Find a reputable agent:

Make sure your agent is familiar with the properties in the neighbourhood you are interested in and is has enough experience to negotiate your offer.Real estate is a full time job, make sure your agent can be reached within a couple of hours.

Find a good building inspector:

Make sure that the inspector is a qualified building inspector not a contractor. Allow for 5 - 7 days following the accepted offer to have the inspection performed. A written report is a must. Expect that every house will need some immediate repairs - you can expect to budget for 3 - 5% of the purchase price.

Get a preapproval from your bank or mortgage broker. This will enable you to negotiate better and move faster when you see a house you like.

Determine your downpayment. Keep money aside for closing costs. Remember rates may rise in 5 - 7 years.

Determine your qualification. Prepare a budget for monthly expenses.

Try to negotiate your interest rate and lock it in.

Visit a property in the daytime.

Ask your agent for comparables.

Normally buyers have 2 conditions: financing and inspection.

Be prepared: In a healthy market vendors want to reduce the time delay for these conditions so as not to tie down their home for too many days.