Hey, posting from Canada here, been throough the process twice myself. The big things that I would recommend is to be sure to be aware of the other fees involved... lawyer, realtor, inspection ect. Also here I know that the minimum we can put down on a house is 5%, and anything under 20% requires a government backed insurance. On the issue of low-balling him, I would say that it depends on the market. With myself I am in a booming economy with housing in high demand... On the last two houses we looked at we had to offer at or above asking price. Your realtor should be able to tell you if there is competing offers on the table and you can adjust accordingly. Other than that, try not to pull your hair out dealing with all the paperwork and stress of moving, in the end a place that you can call your own, and not submitting your money to a sideways slumlord (most landlord's here are among the lowest forms of life) is always a good thing. Good luck and have fun.