If you are not going to use a real estate professional to help you - make sure that you use standardized forms and contracts, and that you get expert LEGAL advice on the contract and provisions that protect you.
No buyers Agent.
Is it the right home for you? Are you familiar with the market to know that the pricing is in iine? Have you bought a home or real estate investment in the past? Do you need someone to preview, quide, be a sounding board and negotiator? Do you know home inspectors? Are you set with your financing? Do you have a real estate attorney?
(if you answered no or not sure to any of these you need a real estate professional)
The way I see it, there are two major obsticles in buying directly from the owner:
1) The owner is emotionally attached to the property, which prevents him from being reasonable about the price. You might have to pay more than the market price without a good negotiator on your side (your agent).
2) Because highly probable neither of you are professional, full time agents, you won't be able to get appropriate disclosures, prepare legallly correct paperwork, and overall make sure that your interest in the transaction is protected.
There are many things that could go wrong in any transaction, but buying directly from the seller subjects yourselves to much higher exposure to problems and stress than necessary. By the way, realtors are paid by the seller, not the buyer. It is a myth that realtors commissions reduce seller's bottom line, they actually increase it - because properties sold by realtors sell for much more money (according to statistics).
Good luck with your purchase,
Beachfront Realty, Inc.
In my opinion, you should always purchase a home from a Real Estate Agent. Real Estate agents are trained and know the market so you don't over pay for your home. A Real Estate agent is going to walk you through your purchase step by step from getting approved for your loan to inspections on the home. A good buyers agent can usually save you money and a lot of stress throughout your buying process and most seller's are willing to pay their commission so you don't have to..