These programs set aside certain homes for a period of 15–30 days, where only first-time buyers or owner-occupants (meaning you have to live in the home) can make an offer. No investors allowed. That means less competition, fewer bidding wars, and a better chance for you to actually become a homeowner.

Why This Matters for You

• Less competition – You’re not fighting against all-cash investors.
• Special financing – Many First Look homes qualify for special incentive programs for first-time buyers, like $100 down payments, down payment assistance, special financing, seller-paid closing costs, or other discounts.
• More flexibility – Banks and government agencies that own these properties want to see them go to real buyers, so they are often more willing to work with you.
• A real path to ownership – For many first-time buyers, this is the most affordable and realistic way to finally get the keys to a home.

Where Do These Homes Come From?

Most First Look homes are bank-owned foreclosures, government-owned homes, or properties acquired by financial institutions. But don’t worry, they are not all wrecks or “fixer–uppers” – in fact, most have already been remodeled specifically to make it attractive to a first-time buyer who may not have the money to do repairs – in other words, there are some great homes available that are already upgraded and remodeled and just waiting for you to move right into. 

But House Karma has even more!

House Karma “Exclusive” First Look Homes

In addition to government, bank-owned homes, and other types of properties, House Karma also has access to exclusive off-market First Look properties you won’t find on the MLS.

Here’s how it works:

• Some sellers partner directly with House Karma and agree to sell their home only to first-time buyers or owner-occupants, not investors.
• In return, we give these sellers special discounts and savings like we do for buyers on both the sale of their home and on their next home purchase.
• It’s a win-win: sellers save thousands on their next move, and buyers get first pick of homes that no one else even sees.

This means that when you work with House Karma, you get access to hidden inventory of homes reserved just for buyers like you, something you simply won’t get anywhere else.

The Big Catch (and Why You Need House Karma)

Here’s the part no one tells you:

• These homes are not always marketed clearly as “First Look.” You must know where to find them.
• Even worse, half of the offers written by regular agents on these homes are rejected because they don’t follow the strict First Look rules. By the time the agent fixes it, the house is gone.

We’ve seen it happen again and again—buyers lose the house they should have gotten simply because their agent didn’t know the rules.

Important: There are very specific requirements as to how the offer must be written and even sometimes special forms that must be used. In addition, many of these offers must be submitted electronically on special websites that your agent must know how to use.  (most don’t) 

Yes, it’s tricky, and this is why most agents don’t have the training, experience, or know-how on how to do this. 

We can’t stress this enough – too many buyers lose out on their dream home simply because their agent wasn’t really qualified to help them. Very sad – but often all too true. 

House Karma is changing that.