The complete step-by-step guide — from budgeting to closing day. Plus how to get cash back at closing with a buyer rebate.
Buying a home is the biggest financial decision most people make — and the process has changed significantly since the 2024 NAR settlement. Buyers now negotiate agent fees directly, buyer rebates are more accessible than ever, and the right representation can save you tens of thousands of dollars.
This guide walks you through every step, with the information you actually need in 2026.
ShopProp buyers get cash back at closing. Calculate your exact rebate.
Calculate Your Rebate Chat With Our AI AssistantBefore you look at a single listing, understand your numbers:
Pre-approval is non-negotiable in 2026. Sellers won't consider offers without one. You'll need:
Pro tip: Get pre-approved with 2-3 lenders. Each pull within 14-45 days counts as one credit inquiry.
The 2024 NAR settlement changed everything for buyers. Key changes:
This is where your choice of representation matters enormously.
Traditional buyer's agents charge 2.5-3% of the purchase price. On a $750K home, that's $18,750-$22,500.
ShopProp charges a flat $4,495 — regardless of price. If the seller offers buyer agent compensation (many still do), we rebate the difference back to you at closing.
On that same $750K home: You could receive $14,255 cash back at closing.
| HOME PRICE | TRADITIONAL 2.5% | SHOPPROP FLAT FEE | YOUR REBATE |
|---|---|---|---|
| $500,000 | $12,500 | $4,495 | $8,005 back |
| $750,000 | $18,750 | $4,495 | $14,255 back |
| $1,000,000 | $25,000 | $4,495 | $20,505 back |
| $2,000,000 | $50,000 | $4,495 | $45,505 back |
| $5,000,000 | $125,000 | $4,495 | $120,505 back |
*Based on typical 2.5% buyer agent commission offered by seller. Actual rebate depends on seller-offered compensation. Where legally permitted.
📖 Read our Buyer Rebate Guide → | NAR Settlement Explained →
Create a prioritized list:
2026 market reality: Inventory is still below pre-2020 levels in most markets. Be prepared to act quickly on homes that meet your must-haves. Waiting for "perfect" often means missing opportunities.
Your offer includes more than just price:
A managing broker reviews your offer strategy before submission — catching issues that could cost you the deal or money.
📖 How to Make an Offer → | Earnest Money Explained → | How to Win a Bidding War →
Never skip the inspection. Cost: $300-$600 for most homes. What inspectors check:
ShopProp's managing broker has a construction background — meaning inspection reports are reviewed by someone who understands building systems, not just contract language.
Your lender orders an appraisal to confirm the home's value supports the loan amount. Three outcomes:
A managing broker with finance experience can identify appraisal risks before you're in contract — and knows how to challenge low appraisals with a Reconsideration of Value (ROV).
After appraisal, your lender moves to final underwriting:
24-48 hours before closing, do a final walkthrough to confirm:
What happens at closing:
With ShopProp: Your buyer rebate appears as a credit on the settlement statement. On a $750K home, that's $14,255 back — money that goes toward your closing costs or directly to you.
📖 What to Expect at Closing → | Closing Costs Explained → | Escrow Process →
Check credit, save for down payment, get pre-approved, choose representation
Tour homes, narrow choices, make offers, negotiate terms
Schedule inspection, review results, negotiate repairs or credits
Lender orders appraisal, final underwriting, clear conditions
Review Closing Disclosure, final walkthrough, wire funds
Sign documents, record deed, receive keys + buyer rebate
The NAR settlement made buyer representation a conscious choice rather than an automatic add-on. That's a good thing — it means you can choose how you're represented and what you pay for it.
At ShopProp, every buyer gets:
See exactly how much cash you'd get back at closing with ShopProp.
Calculate Your Rebate Get Started Chat With Our AIMost buyers need 3-20% for a down payment, plus 2-5% for closing costs. On a $500,000 home, that's $15,000-$125,000 depending on your loan type. VA and USDA loans allow 0% down. With ShopProp's buyer rebate, you can get $10,505 back at closing on a $600K home, reducing your out-of-pocket costs.
The typical home purchase takes 30-60 days from accepted offer to closing, but the entire process (including searching and getting pre-approved) usually takes 3-6 months. Cash purchases can close in as little as 7-14 days.
A buyer rebate is cash back you receive at closing from your agent's commission. After the 2024 NAR settlement, buyers negotiate agent fees directly. ShopProp charges a flat $4,495 and rebates the remainder of any offered buyer agent commission — up to $183,005 back on a $7.5M home.
Legally, no. But a buyer's agent protects your interests during negotiations, inspections, and contracts. The key is choosing representation that doesn't cost you unnecessarily. ShopProp's managing broker provides expert oversight at a flat $4,495 — and rebates any remaining commission back to you.
As featured in NPR · USA Today · NY Post · MarketWatch · Mercury News
