I am thinking about buying a house directly from the owner without a real estate agent's involvement. I know the house and what has been done (it has been totally updated). Other than a home inspection being performed, which is a good idea, has anyone else ever bought a house like this?
2007-03-16 05:17:23 · 7 answers · asked by Me, Myself & I 4 in Business & Finance ➔ Renting & Real Estate
I sold my house in N.C. like that. There was no real estate person involved. We did all the law required and went to a private attorney and signed papers ..3 days later every thing was done...I was off to my new place in Georgia.
2007-03-16 05:31:25 · answer #1 · answered by Dixie 6 · 0⤊ 0⤋
If you decide this route get a:
Home Inspection
Pest Inspection
Request for a Natural Hazard Report - can get this through the Title Company.
Request for a list of disclosures about the property.
Swing into your local REALTOR office and look at the documents. If its to overwhelming than choose a REALTOR who usually has all these documents with them. Remember that a REALTOR is in your next best partner in regards to the legalities in purchasing a property. The best person would be a Real Estate Lawyer so if you can find one that is both a REALTOR AND RE Lawyer than you have a good find.
Happy Living!
2007-03-16 07:36:51 · answer #2 · answered by Openthathouse.com 4 · 0⤊ 0⤋
we are doing this right now - the seller only has a real estate agent involved in helping with the final paperwork and getting the inspections done and our buyer paperwork filled out according to law - the only difference in doing it this way is you don't have to pay some agent 3% of costs just to have them do some paperwork ad bring people to look at your house! we are perfectly happy knowing that the house has to pass a VA and state inspection so we are not worried that a "realtor could catch something' or that the seller is hiding anything..
2007-03-16 06:24:29 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Yes we bought a house without using realtors. In Indiana the seller is required to complete a disclosure statement but may not be required in your state. Also make any offer contingent on home inspection and possibly financing and take real estate taxes in consideration since many state pay the prior year's tax in the current year (don't want to pay taxes for the time the other party lived in the house).
2007-03-16 05:25:56 · answer #4 · answered by Michael_C_IN 1 · 0⤊ 0⤋
I haven't but I don't recommend it, there might be issues with the house or the owner that only a real estate agent could find out.
2007-03-16 05:25:28 · answer #5 · answered by Anonymous · 0⤊ 0⤋
The seller would have to pay for your real estate agent and the agent might get you a better deal. He/she knows what is fair and would fight to make you the best deal. I'm not an agent so I'm not trying to push for you to get one if you feel like you don't but it might be in your best interest. They have a lot of knowledge that we don't and this is a major purchase to undertake.
2007-03-16 05:25:45 · answer #6 · answered by nm 3 · 0⤊ 0⤋
No I never tried buying from owner before I only deal with my realtor I must tried sometime Good luck
2007-03-16 05:44:54 · answer #7 · answered by pattibcacl 6 · 0⤊ 0⤋