Once you find a property you're interested in and the financing that will make the purchase possible, you'll have to consider what the property is worth. You want to buy for a low price and with excellent terms, but how do you know when the price is right? Sometimes gut instinct tells you — but that instinct must be acquired. Plan to spend time researching the market and learning about the different types of valuations assigned to properties by appraisers and others within the world of real estate.