what are the potential dangers when buying with out an agent. Seller is not listing house with realtor.

Newbe
Home Buyer
Toronto, OH

Answers (3)
Tj Roberts,real...
Agent
43221

newbie,The unrepresented seller is taking a chance,you should have a Realtor so your covered on the proper paperwork,price etc...in short this is the best route,

TJ

Wed Aug 5 2009, 03:55
Debbie Rose
Agent
Livingston, NJ

Hi Newbe
You are considering making what is most likely the biggest purchase of your life........and you will have no one acting as your advocate. That is the biggest danger.There is a lot more to arriving at the closing table than just agreeing on a price. Actually, that's only the begining.

Now, most likely, you can get an attorney to draw up the contracts, and oversee that part of it, but he or she isn't going to hold your hand, help you negotiate, advise you during or following the home inspection or do the myriad of things that a Realtor will do on your behalf. You will be dealing face-to-face with the sellers, and that's not always a comfortable place to be.

Some consumers have the aptitude and perseverence to do this, but most don't. Make sure you look before you leap...........and think long and hard before you decide to take this on by yourself!

Best wishes, and I wish you smooth sailing!
Debbie Rose
Prudential NJ Properties

Tue Aug 4 2009, 21:26
Patrick Thies
Agent
Elmhurst, IL
FIRST ANSWER

Do you have real estate experience? Do you know what is required to be disclosed when selling? Do you know what is in a contract and what each part covers? Can you check comparable properties to make sure that the house you are buying is priced correctly? Do you know what is required for your loan, how much for a downpayment, mortgage contingencies, attorney review, or inspection deadline? Can you recongnize potential issues with a house such as roof issues or signs that a basement may have had water? These are just some of the things that an agent represening the buyer can do for you. You want someone to work in your best interest. If you go directly to the seller, who do you think they are most concerned about? You? Probably not. There are certain standards that are required by each state that agents must abide by when representing a buyer or a seller. This is one of the biggest decisions you will make in your life. Don't you want someone who knows what they are doing representing you? People trust their mechanics, doctors and lawyers but feel that they can buy or sell a house on their own. There is alot more involved with buying or selling a house than most people think. If you choose to work with an agent, make sure it is one who knows what they are doing. Interview them and check out their qualifications. If they are a good agent, they won't mind. Good Luck

Tue Aug 4 2009, 20:24

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