Always use a realtor for a number of reasons.

1. They can help advise you on the right offer to make to have a better chance of acceptance.
2. They can help advise you on which finance companies to use and which deal is really better. For example are you familiar with which lenders typically close on time and which don't. What's the downside for you if you pick the wrong one? I know I've saved some of my customers thousands of $, even when they thought their brother-in-law was doing them a favor.
3. Do you know some of the typical terms of the contract....the different between option money and earnest money? What are typical amounts for these fees, when are they refundable, how fast they have to be paid, etc.
4. Do you know which title companies have a reputation for closing on time and which don't.
5. Do you have a board certified real estate attorney you can call if needed to ask a quick question for FREE.
6. Do you have the ability to look at recent sales prices in the area? Do you have the ability to see what they potentially paid for the property?
7. How will you know if there are any liens on the property and that taxes are all paid?
8. How will you know that they aren't facing foreclosure and that if they don't close by X date they will lose the house, even if they have a contract to sell it to you?
9. How will you know that they don't have federal tax liens that might prevent them from selling the house to you?
10. What disclosures are they required to give you to ensure the contract is valid?
These are just some of the many questions that are vital to buying or selling a home and that are almost impossible for someone to know who does one transaction every 2-3-5 years.

It is, of course, possible to buy without a Realtor. However, your questions, and the way you phrase them, suggest that you'd benefit greatly from a Realtor.

First, you don't have any idea what the house is actually worth. You're probably assuming it's worth around $220,000. Maybe, maybe not. Suppose it's really worth $175,000 and you offer $190,000. You may think you've gotten a good deal, but you've really overpaid by $15,000.

You ask: "Is that a sign that the sellers are expecting a quick sale?" Not necessarily. It may be a sign that they're hoping for a quick sale. Or it could be just that they wanted to see if they got any nibbles at an inflated price; when they didn't, they might have dropped the price down to a more reasonable level.

Should you bid lower? With all due respect, you're wondering if you're able to negotiate without a Realtor; then you ask whether you should bid lower. Well, I wouldn't advise bidding higher...not if they'll accept $200,000. The very fact that you asked the question suggest the need for a Realtor.

Look: A Realtor's not going to cost you a penny. By using a Realtor, you can find out pretty much what the house is actually worth. You'll have someone who should be pretty good at negotiating. And, remember, negotiating isn't just about price. It's about price and terms.

So, to answer your question, no, do not try negotiating without a Realtor.

Good luck.

C, these are exactly the kind of questions that a qualified Realtor can guide you through, as you begin to negotiate for a property. The fact that you're unsure how to proceed, is a strong indication that you should really allow a Realtor to help you, and guide you through the process.

The buyer's agent is paid from the seller's proceeds, so there is no out of pocket expense to you, and a Realtor's advice could well save you a substantial amount of money.

Thanks for the correction Naima. That is why it is important to hear from local agents!

CJ

To answer your question about the seller's expecting a quick sale, a reduction of $30k is definateley a sign of wanting to sell, BUT if the house is only worth $180k then what does it really mean anyways right. On the second part of your question, if it is worth $230k and they reduce to $200k then them may have multiple offers and offering lower would be a waste of time. So basically it's important to know what your buying before making ANY offer. If you have the information needed which will be on the comparables then you can feel at ease with your offer. Hope that helps!

Sorry CJ, Zillow doesn't work in Texas because we are a non-disclosure state and the only amount that show on there are the loan amounts NOT the sales price. Their numbers on my own house is about 460K less than what it's really worth.

If you had purchased a house several times before I would say that you may have a chance at knowing what you're doing but laws change and you need someone to represent you.

Even if they priced it at 200K does it mean that it's worth that amount? only a realtor can help you determine what price range that house belongs in and what items to negotiate. Especially that you are a first time home buyer.

It does not cost you anything to use a Realtor. The seller has already made an agreement in writing with his agent that he is paying a specific fee to get the house sold and weather you get representation or not he is going to pay that amount. So why not get someone to fight for you???

Setting the price is just the beginning, you have inspections, title issues, appraisal, loan, survey, etc. to deal with and you need someone who does this every day to do it for you.

I'll be happy to discuss further with you if you wish to contact me. I have trained many many agents over the years and helped lots and lots of first time home buyers

Naima
214-289-8555
naima@sumner-realty.com

C -
I am not in your area and I am sure local agents will chime in. Until they do, I would suggest finding out what the comparable sales are for the area. You can use online services like Zillow but many times they are not very accurate. Any Realtor will complete a market analysis for you. (With no obligation)

If you are experienced with the real estate contracts for your area and feel comfortable with completing the transaction on your own, you certainly could offer a lower bid and see what happens. You will be saving them commissions and they may be very willing to adjust the price.

I would recommend working with a Realtor. Before I became a Realtor I bought and sold homes in Florida, Texas (Roanoke), and Calfornia. It never failed to amaze me what new little glitch would come up with each contract. Having an experienced, professional on your side can many times save money in the end.

Most important to find out the comparable sales and look at any inspections that have been completed. Then you can decide what the value really is in this market.

CJ

Hi C, you don't need a Realtor to buy a house, but let me ask you a question, why would you not want one? You have several questions about negotiations within your question, Realtors help buyers submit and negotiate offers for a living. Then, when the sale price has been agreed upon, we make sure that a buyer has access to experts to help with the rest of the process - like lenders, inspectors, professional tradesmen, and attorneys. Then we make sure you stay on top of all the deadlines in your contract to be sure the deal goes through.

On the buyers side we do all those things, and then we get paid by the agent for the seller, so you don't have to usually take a penny out of your pocket for all the guidance listed above by someone who does this everyday!

If you "try" to negotiate without an agent and don't do well, it is usually too late to go back to the seller's agent with a buyer's agent of your own and start over. There are great agents in the Plano area who would love to help you and lots of excellent advise on this site on how to select a great agent. You can go it alone if you want to, but my advise would be, have someone who does this everyday help you through the process. Best wishes! Stacey