When it is about buying a house, paying the realtor’s commission becomes an extra burden on the buyer. So he takes the risk of doing the transactions without a realtor.
Pros of buying without Realtor:
· No mediator to deal with –Communicate directly; your thoughts offers, and needs with the seller. No need to wait for call backs, messages and reply that your requirements are well expressed to the seller.
· Be flexible in purchase price – A buyer has to give 5% commission to the realtor after he or she purchases a property. Forgoing him you can save your currency.
· You gain supremacy over negotiations– Implementing your own marketing ideas makes it flexible to negotiate with the buyers.
Cons of buying without Realtor:
· Lots of questions and paperwork to be done – The Federal Nation Mortgage Association recommends for a realtor. He advises over securing your finances and cleaning up your credits.
· Property history is unknown –It is found that after buying a home, you get to know that it was used as ‘meth lab’. This fact is not disclosed mostly.
· Hidden costs may linger – Youwon’tknow about the pros and cons of the neighboring area if it will cost high for maintenance.
How to buy a home without a Realtor?
· Start surf lists and keep a record of the information gathered.
· Get a pre-approved loan for a mortgage.
· After choosing, compare your property with similar ones in the area.
· Write an offer letter to the seller about how much you are willing to pay.