Been renting our home for awhile now, like the neighborhood....and we are interested in buying the home. How do we proceed without a realtor?

Asked by msrosalina, Folsom, CA Mon Jul 9, 2012

how to proceed with contract offer to owner? She is very interested.

Help the community by answering this question:

+ web reference
Web reference:


Kerri Habel, , Folsom, CA
Mon Jul 9, 2012
I agree with Ed, see if you can get an agent to handle the transaction for both you and the seller at a reduced commission. That will ensure a smooth process and help you with the inspections, escrow, etc.
If you truly want to try it on your own, you can usually find a free purchase contract on-line to download for you and the seller to fill out once you've agreed to a price. Once you have a contract written, you or the seller can take this to the title company (along with your deposit) to open escrow and handle all of the paperwork and changing of ownership. You will want to get pre-approved before hand so you know the time frame that the lender can close (usually 30 to 45 days) and have them order the appraisal to ensure you are not overpaying for the property.
Let me know if I can answer any further questions. Congratulations and good luck! Owning a house can be very exciting and hope the process goes smoothly for you.
1 vote
Bud Zeller, Agent, Folsom, CA
Sat Aug 4, 2012
This reminds me of the old saying, "If you want to represent yourself in a court of law without an attorney, you have a fool for a client!"
0 votes
Jim Walker, Agent, Carmichael, CA
Mon Jul 9, 2012
Ms. Rosalina,

You made me laugh, maybe without trying. You posted this question on Trulia, where most of the answers come from Realtors. I am not surprised that so many answered the way they did.

Experienced consumers, professional investors, and former real estate agents who know as much about buying real estate as the average agent will still often choose to use a real estate agent to represent them in transactions.

Because it is COMPLICATED. It isn't brain surgery, it isn't rocket science, But it IS harder than tying your shoelaces. You learned to do that, you can learn to do this.

The fact that you asked how to proceed is prima facie evidence that you don't yet have the knowledge and skills to conduct a real estate sale as both principal and transaction coordinator. The knowledge and skill can be learned. Rather quickly. some agents have gone from rookie to top producer in a year or two. So if you have a year or two to devote to the study of real estate, you should be capable then to handle your own transaction after that training.
0 votes
Ed Favinger, Agent, Folsom, CA
Mon Jul 9, 2012
Ms Rosalina

I would get a Real Estate Broker/Agent to handle this pretty much like a normal deal. The Seller would like to avoid paying a commission because it's going to effect her bottom line net.

That's not your problem... but I'm sure there will be some negotiation on the commission, so it won't cost you anything. I bet you could find an agent that would do that for 2 or 3% of the sales price and have the Seller pay that.

What you want is someone to go through the paper work, get all the disclosures and inspections because once you close that deal, you'll be the owner and can't call her and have her come and fix stuff anymore.

Make sure you get a home inspection, a pest report and a roof inspection which an agent I'm sure will recommend to you. I know you've been there for a while, but now you are buying it.

If you need financing, your agent can recommend a good loan agent they have a relationship with that will make it a smooth deal.

Let us know what you decide to do...

I hope this helps...

Make it a great day...!!
0 votes
Jason Smith, Agent, Orangevale, CA
Mon Jul 9, 2012
Get pre-approved for your loan before you make any kind of offer. That way you can feel comfortable with your offer and know what your monthly payments will be. You can do this without a Realtor but if you are going that route to save yourself money there is no need to worry about that. The seller usually pays the commission. Having a Realtor represent you will give you piece of mind knowing that you are paying the right price for that property and getting educated on your rights as a buyer. Are you able to run comps on your own? The seller must provide a lot of different types of property disclosures and having someone involved that knows what they are is vital.
0 votes
John Cypher, Agent, Fair Oaks, CA
Mon Jul 9, 2012
I heartily agree with the foregoing advice of the previous two realtors. There can be many pitfalls & surprises as well as frustrations particularly in this market. I can think of no advantages to not hiring a realtor but many disadvantages. By the way, are you aware that commissions are, in almost all cases, paid by the seller? Professional help is virtually free to you.

If you insist in finding & purchasing a home by yourself, your access to available homes in any neighborhood is limited. You must use consumer web-sites to search listings and many are not up to date or inaccurate. Also, you will have to rely on the house of interest being held open in order to see it. Considering only a small percentage of homes are ever held open while the nicer ones are being shown by professional Realtors every day, your chances of successfully competing with agent-represented buyers is slim.

I would suggest you vist some real estate offices and/or whatever open houses are available and interview a few Realtors to find someone suitable to your needs. Select someone who is empathetic to your tastes, communicates with you clearly & succinctly and who's competance you trust.

John Cypher DRE: 01397566
Lyon Real Estate (916) 337-7160
0 votes
Roxana Quint…, Agent, Miami, FL
Mon Jul 9, 2012
Go to your bank and try to get financed. Talk to the owner and tell them that you are pre-quilifed for a home loan. Finger out what properties are selling for in an that area. When you get the appraisal, both parties have to honor the appraisal value. Find title company to finish the transaction. It’s much easier with a reaoltor.
0 votes
Steve Heard, Agent, Folsom, CA
Mon Jul 9, 2012
Hi Mrs. Rosalina

I'll ask the question again. Why do you want to go without a Realtor? My guess is that you don't understand what a Realtor does and so don't see the value in hiring one. A Realtor's job is not to find a house for you to buy, but rather, to protect your interests in buying the home. Most sellers want to sell their home for the highest price possible while giving as little as possible in the way of concessions and repairs. If those goals are in line with yours, you still need someone to represent you with regard to legal obligations, disclosures and advise on inspections and negotiations. An attorney may be able to do that, and some of the best are also Realtors. If, however, you are looking for a good negotiator who understands the market and the value of the house you wish to buy, go ahead and hire a Realtor. Their services are free to you. By the way, some buyers assume that by going without a Realtor, they'll get the house cheaper because the seller doesn't have to pay commissions. Guess what? The seller sees it differently. The seller sees it as they are able to sell the house for the same price (or more) and keep more money in their pockets because they don't have to pay commissions. This is likely to be the biggest, most expensive thing you buy in your lifetime. Make sure you have the protection and advice of an expert.
0 votes
Cindy Davis, Agent, San Diego, CA
Mon Jul 9, 2012
Why would you want to proceed without a Realtor?? I understand that you found the house you wanted on your own...but still, don't you want somebody regulating the transaction from an objective point of view???

In your situation, I would strongly advise you to have either a real estate attorney write up your contract and negotiate terms or hire a Realtor to draw up the contract and work the transaction. You're not being wise to do this without some sort of counsel.
0 votes
Scott Godzyk, Agent, Manchester, NH
Mon Jul 9, 2012
Without a buyer broker representing you, you should then hire a lawyer as a contract is legal and onme should not attempt unless they are expereinced with contract law. You first need to assess how much the house is worth in todays market to know what to answer. You then have to draw up a contract with teh specific contingincies needed to protect you in case you cannot get a mortgage or if it does not pass an inspection or does not appraise at the sales price. A good buyer broker mor ethan covers their fee by saving you money on your offer price and protections with the contract and buying process.
0 votes
Search Advice
Ask our community a question

Email me when…

Learn more