The Idaho Home-Buying Process: Your Step-by-Step Checklist

Look at recent comparable sales in the neighborhood with your agent. Decide on your offer price, the closing date you want, and which contingencies to include — usually financing, appraisal, and inspection.

Cost: $0

Idaho agents are required to use the Idaho Real Estate Commission RE-21 Real Estate Purchase and Sale Agreement for residential deals unless both parties agree in writing to use a different form. The RE-21 covers price, earnest money, financing, inspection, closing date, and the standard contingencies. Read every section before signing — it becomes a binding contract once accepted.

Cost: $0

Earnest money is the deposit you put down to show you are serious. In Idaho it is usually 1% to 3% of the purchase price. You write the amount and the deposit deadline into the RE-21 — the deposit is then held in the brokerage trust account, not by the seller.

Cost: 1-3% of purchase price typical

Idaho sellers are not allowed to advertise buyer-broker compensation through the MLS anymore. Anything the seller agrees to pay toward your agent's commission or your closing costs has to be written into the RE-21 itself as a seller concession. Talk with your agent and your lender about what concessions to ask for before you submit.

Cost: $0

Your agent sends the signed RE-21 plus your pre-approval letter and proof of funds to the listing agent. The offer usually has a short response deadline — often 24 to 48 hours — after which it expires. Be ready for a counteroffer.

Cost: $0

Idaho rules require the brokerage to deposit earnest money into its trust account within three banking days of receiving it. Wire your deposit promptly so the deal does not stall. Confirm the wire instructions by phone with someone you already know — wire fraud is common in real estate.

Cost: Earnest money amount + small wire fee

Idaho sellers of one-to-four-unit residential property must give you a written Property Condition Disclosure covering known defects, systems, water source, and other material facts. If you receive the disclosure after you have already submitted your offer, Idaho law gives you 3 business days to back out of the contract in writing. Read it carefully and ask follow-up questions.

Cost: $0

Idaho residential deals close at a title and escrow company, not a law office. Your agent or the listing agent will open an escrow file once the contract is fully signed. Escrow will order the title search, hold the earnest money on deposit, and prepare the closing statement when the time comes.

Cost: $0 at this stage

If you are buying a condo or a home in a homeowners association, Idaho's Condominium Property Act requires the seller to deliver the CC&Rs, bylaws, recent financial statements, the reserve study, and notice of any pending special assessments or lawsuits. Read these before your inspection period ends — pending special assessments can cost thousands.

Cost: $0-$300 for HOA document fees

Hire a licensed home inspector to walk the property and write a report on the roof, structure, plumbing, electrical, heating, cooling, and major appliances. Plan to attend the last 30 minutes so you can ask questions and see issues in person.

Cost: $400-800 typical

Many Idaho homes outside city limits run on a private well and septic system. Hire a separate well water test (bacteria, nitrate, and arsenic at minimum) and a septic inspection. Replacing a failed septic system can cost $10,000 or more, so do this before your inspection contingency expires.

Cost: $300-700 combined

If the home was built before 1978, federal law requires the seller to give you an EPA-approved lead-based paint disclosure form, any reports they have, and the EPA pamphlet. You also get a 10-day window (which can be shortened by mutual agreement) to do a lead-based paint inspection if you want one.

Cost: $0 for disclosure; $300-500 for optional inspection

Idaho has no separate flood disclosure statute, but flood zone status is treated as a material fact. Look up the address on the FEMA Flood Map Service Center to see whether it sits in a Special Flood Hazard Area. If it does, your lender will require flood insurance and your premium could be significant.

Cost: $0 to check; flood insurance varies

Under Idaho Code §39-7401, an owner must disclose to a buyer any prior methamphetamine contamination of the property before signing a purchase agreement. If the disclosure form is silent and you have any concern based on the location or history, ask in writing and consider a meth test. Remediation can cost tens of thousands of dollars.

Cost: $50-200 for an optional test

After you review the inspection report, decide what to ask the seller for: repairs done before closing, a credit at closing, a price reduction, or a mix. Your agent writes this up as an inspection response under the RE-21. If you cannot reach agreement before your inspection deadline, you can usually walk away and get your earnest money back.

Cost: $0

Once you are under contract, give your lender every document they ask for — updated pay stubs, bank statements, the signed purchase agreement, and any explanations of large deposits. The faster you respond, the smoother the file moves.

Cost: Application fee varies by lender

Talk with your lender about when to lock your rate. A rate lock guarantees today's rate for a set number of days, usually 30 to 60. Lock long enough to cover your closing date — a lock that expires before closing means you have to pay to extend or accept the new rate.

Cost: $0 (built into loan)

Your lender orders the appraisal through an independent appraisal management company. The appraiser inspects the home and writes a report saying what the property is worth. If the appraisal comes in below the contract price, you can renegotiate, pay the difference in cash, or walk away under your appraisal contingency.

Cost: $500-800 typical

Underwriting almost always asks for extra documents — explanations for transfers, updated balances, employer verifications. Send them the same day if possible. Do not open new credit accounts, change jobs, or make large purchases until after closing.

Cost: $0

Idaho follows the 'first in time, first in right' rule for water — water rights are property rights that do not automatically transfer with the land unless they are specifically included in the deed or purchase agreement. If you are buying acreage, a farm, or a riverfront property, make sure the title commitment confirms what water rights actually come with the property.

Cost: $0

In Idaho, mineral rights can be sold or reserved separately from the surface. If the title commitment shows the minerals are owned by someone else (a split estate), the mineral owner has the right to access the surface to extract them. Decide whether you are comfortable with that risk before you remove your title contingency.

Cost: $0

Get quotes from at least 2 or 3 insurers and bind a policy that goes into effect on your closing date. Your lender needs the declarations page before they can issue final loan documents. If the home is in a FEMA Special Flood Hazard Area, you will also need a separate flood policy.

Cost: $800-2,000 per year typical

After underwriting reviews everything, your lender issues a clear-to-close, meaning they are ready to fund. Confirm the closing date with your agent and the escrow officer once you get it.

Cost: $0

Federal law requires your lender to send a Closing Disclosure at least 3 business days before closing. It lists your loan terms, monthly payment, and every dollar of closing costs. Compare it line by line with your Loan Estimate and ask your lender about any difference.

Cost: $0

Set up the final walkthrough for the day before or the day of closing. The point is to confirm the home is in the agreed condition, that any negotiated repairs are done, and that everything that was supposed to stay (appliances, fixtures) is still there.

Cost: $0

Walk every room and test the major systems — turn on faucets, flush toilets, run the dishwasher, check the HVAC, open and close windows. If you find a problem, tell your agent right away so it can be addressed before you sign.

Cost: $0

Call the escrow officer at a number you already know (not one in an email) to verbally confirm the wire instructions for your cash to close. Wire fraud in real estate closings is common — bogus emails from spoofed addresses redirect funds to criminals. Send the wire from your bank in person or through a verified online portal.

Cost: Down payment + closing costs

Idaho is not an attorney closing state. The title and escrow company handles the closing. You will sign the deed of trust, the note, the closing disclosure, and a stack of other documents. Bring a government-issued photo ID, ask the escrow officer to explain anything you don't understand, and don't sign until you are comfortable.

Cost: $0 at signing (paid by wire)

After signing and funding, the title company records the deed with the county recorder. Idaho does not charge a transfer tax, but the recorder charges a flat per-page fee — usually under $200 on a standard transaction. Once recording is confirmed, escrow releases the keys and the home is officially yours.

Cost: Recording fees usually under $200