Things that could go wrong?

Are basic negotiation skills like being an above average driver which most people think they are?

Make sure you have a good real estate lawyer. The seller's agent will help guide you through the process, but make sure your lawyer is watching you every step of the way.

I agree with Matt - forget trying to figure out what can go wrong, because just about anything can and will go wrong. Get an experienced (Manhattan-based) attorney who you trust and can rely on.

Expect the process to take much longer than you plan - expect to extend your rate lock at least once - expect documents to get lost and people to make mistakes -

With a good attorney, you will get through the process just fine and enjoy your new place.

also have a competent mortgage broker/banker. most are just a bunch of idiots who you'll have to send the same information 3-5 times. a good banker keeps the info handy, so when the request comes again, he provides it instead of asking you to do it.

agreed--with a good lawyer, you will be fine

do without a buying broker--no upside, lots of potential conflict of interest and downside