Tuesday, 2 August 2016

What happens when you buy a property without Realtor ?

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.

·       Start site visit for proper insight.

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