It would, yes, possibly be easier with an estate agent involved, but the place I like is just up for sale by the owner.
Any tips/things to watch out for/etc?
2006-11-28 03:41:57 · 6 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
You definitely DO NOT need to hire an agent. A real estate attorney at your local Title Company can process all of the paperwork for a fraction of the cost. Your state requires certain documents to be filled out. Your title company has all of these forms for you.
Make sure you get pre-qualified at your bank.
Make sure you get a homeowner's inspection.
Make sure you conduct your own appraisal and/or hire an appraiser.
Make sure the contract/offer has "pending a satisfactory home inspection".
Do not sign anything without having your attorney look at it.
Make sure you get a Title Search.
2006-11-28 04:42:20 · answer #1 · answered by fsboinvestor 2 · 1⤊ 0⤋
Not only easier... You would have protection for you legally!
In real estate there is so much paperwork along with Continuous Negotiations... are you willing to risk all that just to by a house for sale by owner.. just because they don't want to pay an agent doesn't mean you don't have to! You can still request to use an agent especially if your online seeking help from complete strangers tells me you really need to seek a professional real estate agent w/ a lot of experience to negotiate and keep you legally safe!
Isn't that what you want! I would watch out for, for sale by owners. that's what I would watch out for and by the way you can negotiate the price even lower because you can dangle the fact that they are saving commissions and doing them a favor!
I am an agent and selling my home and using my broker because of the legal ramifications. You can always be too safe!
2006-11-28 11:50:58 · answer #2 · answered by jmilil 3 · 1⤊ 0⤋
If you have Title Companies in your area, I would recommend using one, otherwise hire an attorney to complete the transaction. And remember that they get to keep more of the money then if there is an agent involved. Which means you should get some of the savings, too.
Another key is to make sure your offer is subject to inspection and no problems being found. You will have to pay for a house inspector, but better to find problems now than have to pay for them later. It may even bring the house price down.
2006-11-28 11:46:17 · answer #3 · answered by Aggie80 5 · 1⤊ 0⤋
You should do alot. First try to get your own representation by a licensed realtor in your area. Second, have the realtor do a comparable to see if the pricing is okay. Next the realtor will instruct you on getting inspections done and obtaining a sellers disclosure concerning any known defects of the property. Even though the seller says he can do the transaction himself or with the help of a title company, you need your own realtor to represent you, you will be glad you did in the long run. Getting your own realtor is usually no cost to you, it should be included in the commission the seller will have to pay, make sure the seller agrees with paying the commission or the realtor may have to ask you to pay it.
2006-11-28 11:53:06 · answer #4 · answered by pc 1 · 1⤊ 0⤋
Get an inspection. It's not much different then buying one through an agent. Usually people, when they sell their own, don't want to pay the agents commission so that is why they do it. Be sure to ask him if he is an agent. They are supposed to disclose that. Then have your lawyer check everything over before you sign anything - have him do a title search too and make sure it's clean.
2006-11-28 11:46:48 · answer #5 · answered by Chula 4 · 1⤊ 0⤋
1) The savings from not using a realtor should go mostly to you, so make sure the price is nice & low.
2) Ask the seller what provisions for consumating the sale they have made. Usually a lawyer or a realtor will draw up the paperwork.
2006-11-28 11:49:10 · answer #6 · answered by k_e_p_l_e_r 3 · 1⤊ 0⤋