Home Buying in Oklahoma City>Question Details

dgwrdw, Home Buyer in Summerdale, AL

Do you have to have a real estate agent to buy a house if you are paying cash?

Asked by dgwrdw, Summerdale, AL Fri Feb 7, 2014

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14
You do not "need" and agent to buy a house, but if you are doing so to save money you won't. In this case the sellers agent will just get twice the commission. Agents are typically free to Buyers.
0 votes Thank Flag Link Fri Feb 28, 2014
Nope and you do not need a fireman to put out a fire or an attorney to sue someone, but both could really help out....
0 votes Thank Flag Link Fri Feb 28, 2014
While it is not required to us a Realtor it is highly recommended. There are fewer costs when dealing with a cash transaction but a Realtor can really help you make an informed offer by looking at the local market. We always have great people to work with as home inspectors and contractors The Realtor's commission typically comes from the sellers side.
0 votes Thank Flag Link Mon Feb 24, 2014
Hi,

There was a thread about this same topic the other day in the San Antonio forum. Please see http://www.trulia.com/voices/Home_Buying/What_are_the_pros_a… and http://www.trulia.com/voices/Home_Buying/removed-623965

It is always a good idea to have an agent involving the transaction regardless of means of payment.
0 votes Thank Flag Link Mon Feb 10, 2014
I work with cash buyers frequently. One of the great advantages of paying cash is that you have fewer closing costs. On the down side, an appraisal is not required, so if you have one less expert helping to assure that you are paying the right price. As a professional realtor, I can help you decide on the price to offer. When you use a realtor, we are representing you and advocating for you. If you would like help from a professional, please contact me.
0 votes Thank Flag Link Mon Feb 10, 2014
It is always wise to use a realtor. We are the experts and there are too many legal intricacies that can be overlooked. As realtors we make sure to protect all parties . Therefore you really should use a realtor
0 votes Thank Flag Link Sun Feb 9, 2014
You should always use a licensed REALTOR for the purchase of real estate. As a buyer it costs you nothing to have a Realtor negociateon your behalf and make sure everything is contractually done correctly.
0 votes Thank Flag Link Sun Feb 9, 2014
You should always use a Realtor especially if you are buying with cash, eventhough you do not have to use a Realtor: There are several perks for using one, the biggest is we can keep you out of a law suit, you do not pay our salary the seller does and we work primarily for you, the listing Realtor works primarily for the seller, we will arrange all the inspections, we will get all the necessay papers to the title company,
If you would like to call me and chat please do so:

Thank You
John Phillips
405 413 0791
1 vote Thank Flag Link Sat Feb 8, 2014
No, but you need one even more than if you are buying a home with a mortgage. The lender adds a level of protection to the transaction. They won't loan money on a home that is overpriced or in bad condition. When you want to buy a home the best place to start is to hire an Exclusive Buyer Agent. EBAs only work with homebuyers and there is never a conflict of interest that will jeopardize your negotiating position. Visit http://www.naeba.org for a referral to an Exclusive Buyer's Agent in your area.

I've written a best selling book called Buying a Home: Don't Let Them Make a Monkey Out of You. It'll teach you how to buy a home without getting ripped off. Follow the link below.

Best of luck!

Alysse Musgrave
214-734-3863
Alysse@HelpUBuyAmerica.com
http://www.helpubuyamerica.com
0 votes Thank Flag Link Sat Feb 8, 2014
You do not have to, but the listing agent is looking out for the seller, who then will be looking out for you. You will want to get the best buy for your money. A buyer agent usually gets paid their fee from the listing agent so in most cases it does not cost you anything extra to be guided and helped through the sale.
0 votes Thank Flag Link Sat Feb 8, 2014
The only bearing cash has is it eliminates the need for a mortgage lender! AND it could eliminate the need for an insurance agent. AND it could eliminate the requirement for an appraisal. And it could eliminate the requirement for an inspection. None of these have anything to do with the role your agent fulfills in the process. ---------There are two reasons I can think of why you would not want the benefit of a service that has been prepaid. #1. You don't want anyone to know you business. Such as you really don't have cash. #2. You think you are going to save some money. Both often lead to disappointment. But, be very aware, YOU CAN buy and sell real estate without an agent. Just troll through yesterdays Q&As and you will read citizen after citizen asking how to put Humpty Dumpty back together again.
0 votes Thank Flag Link Sat Feb 8, 2014
No you do not, but you also do not need an attorney to file suite, but both a REALTOR member and an attorney are specialist that can really help their clients.
0 votes Thank Flag Link Sat Feb 8, 2014
Anna's right. The seller usually pays the realtor's fees. It's better for you to have an experienced realtor working for you.
If you decide to go it alone, I would highly recommend getting title insurance.
Feel free to contact me. Ill be glad to help.
Bridgett Wells
Keller Williams Realty Elite
651-9320
Bridgettwells@kw.com
0 votes Thank Flag Link Fri Feb 7, 2014
Keep in mind that generally the seller pays commission out of the proceeds of the sale, if two agents are involved the fee is shared; therefore if the seller has his/her own representation, why not have an agent of your own who can look out for your best interest...
1 vote Thank Flag Link Fri Feb 7, 2014
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