Some homebuyers, especially first-time homebuyers are wary of realtors. They think that realtors are only after closing the deal and not helpful in buying a home. There may be a small percentage of realtors like that but a large percentage care deeply about providing quality service and treating clients honestly and ethically.
BUYING A HOME WITHOUT A REALTOR?
If I opt buying a home without a realtor here are a few things to know:
1.I’LL HAVE TO DO MY OWN NEGOTIATION
Negotiating an offer is entirely different and tricky because the risks in purchasing a house exceed the price considerations.
2.I WON’T HAVE A NEIGHBOURHOOD SPECIALIST ON WHOM TO RELY
Realtors who sell in specific areas know facts about that neighborhood that a seller might not disclose.
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3. I MIGHT NOT RECEIVE THE ENTIRE SELLER DISCLOSURES TO WHICH I AM LEGALLY ENTITLED
Sellers may not purposely withhold a disclosure, but I will likely not know what to request.
4.I MIGHT PAY MORE FOR CLOSING COSTS THAN IS CUSTOMARY IN MY AREA
Sellers might make me pay for everything, and I won’t know the difference.
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5.I’LL BE LEFT TO DECIPHER PILES OF PAPERWORK FILLED WITH CONTRACT LANGUAGE
An agent can explain the difference between a disclosure and an agreement, and assist me to understand what I sign.
6.I MAY FIND MY OWN MORTGAGE
I won’t know if my lender has a reputation for closing on time or whether I’m getting the best rate and terms.
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These are some of the things to consider when I’m buying a home. I hope you found this useful.