First Time Home Buyers - Research (negotiating, housing, price, offer)

[SMB2003]

Hello,

I am new to this forum and joined to gather research on the home buying process for a school project. I'd like to see if anyone is willing to share their experiences and answer any of the questions below. I have looked up some research that has already been done, but am looking for individual experiences rather than general articles.

Ideally I'd like input from people that have recently purchased homes, particularly in the Detroit area or similar housing markets. I welcome input from buyers, realtors, and even sellers that have sold to first time buyers.

1) This is a really broad question, but what are the biggest issues found with first time buyers? I am mostly interested in the point up to but not beyond putting in an offer on a home and negotiating price. I have made the assumption that the buyer has already been pre-approved for a loan.

2) Have you or your client's suffered buyer's remorse? If so why?

3) Have you or a client ever backed out of a deal? If so why?

Thanks in advance for any responses! :-)