oral contract - an agreement that is not in writing and is not signed by the parties but is a real existing contract that lacks only the formal requirement of a memorandum to render it enforceable in litigation.
A buyer's representative has the same access to homes for sale that a seller's agent does, but his or her allegiance is supposed to be only to you. 5. Search for a home. Your first step here is to figure out what city or neighborhood you want to live in.
The U.S. Department of Housing and Urban Development (HUD) defines a first-time home buyer as someone who has not owned a home for three years prior to signing a contract to buy a home.