First time homebuyer, confused & nervous

I have been renting for the past 5 years and now that I have a stable job, I am interested in buying a small home and paying it off in 5-6 years.

I am armed with $11,000 down payment and have my eyes set on a house that is $54,500, 2 bedroom one bath, recent renovation, in a college town with a booming rental market in Upstate New York.

My wife is still in college, so we plan to stay in the area, pay off this house and eventually use it as a rental property and potentially move away.

We are buying it directly from "The Broker."(?) When do I negotiate price and with who? Do I bother? When do I get a home inspection?

Zillow says the house was purchased in March for $15,000 but looking back on google images, they really really fixed this place up.

Thank you!

More real estate tips at Program Realty Wix site

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