Buying a home without a realtor: Is it possible?
Are you wondering about buying a home without any help from a realtor?
I would say quite a tedious job! There are lots of aspects to consider when you want to give a try without a realtor. Most of the homebuyers approach through realtor which eases the whole process. So before getting started, let’s discuss the pros and cons regarding buying home with or without a realtor.
Aspects to consider when buying a home without a realtor:
Buying a home without a professional adds a few more responsibilities. Let’s discuss some here.
- Lacking the proper Market Knowledge
Realtors in Corpus Christi TX has access to a real estate listings, so they have better insights over which property are on market and all the features they provide. Great realtors have a sound knowledge of local market, which helps to get a great deal over a home in our budget. Without an agent this whole research has to be done by the buyer.
- Negotiation over the Price
Real estate agents are great negotiators. Dealing on property in absence of an agent, you have to negotiate yourself. This might bring a scenario where you would overpay on a property or might also lose a deal due to lack of proper knowledge. Real estate Corpus Christi agent would negotiate on your behalf with the seller to get you the best deal.
- Lots and Lots of Paperwork to handle!
Do you have any knowledge of ironclad purchase offer or inspection reports? Well, buying a property comes with a pile of documentations. Corpus Christi realtors will not only help you manage the paperwork but also draw your attention to important issues.
- Real estate Corpus Christi has many connections
Buying a home includes contacting lot of third party experts such as contractors and home inspectors. Realtors in Corpus Christi TX can direct you to all these professionals with quite ease. Without an agent you might need to have a good research and a planned business to avoid any shoddy work.
Most buyers avoid approaching a real estate firm to save the brokerage money. The commission is generally 5-6% of the home purchase’s price and is again spilt between the listing agent and buyer’s agent. Generally sellers pay the commission, and there might not be any advantage to the buyer. Pamela Linskey, attorney and founder of Linskey Law LLC states: “The seller pays the brokerage fee for the listing agent and the buyer agent, so there’s really no benefit to the buyer for doing it alone.”
So does buying a home without a realtor actually saves any money? Well, answer to that is No! Typically the sellers are responsible for paying the buyer’s real estate agent and sellers generally build up the commission fees along with the price of their home. This means if you plan to forgo an agent, you might actually end up losing more money.
Still if you feel working with an agent isn’t for you, make sure you write it in your offer prior stating that you are offering a lower price as they do not have to pay for their agent. This way you can save 3% of the purchase price. There are few extra steps you’ll have to consider when buying a house without a realtor. Make sure you do a plenty of research prior making a deal. Next, research the neighborhood and make sure you hire an experienced attorney lawyer to help with paperwork and home inspector. Also, negotiate to get a great deal before closing on your home.
Conclusion
Apart from these paperwork and commission, without a real estate agent you can wind up with a home with serious issues, draining your all money in repair and management because you didn’t have the right contingencies in place from the seller. Realtors in Corpus Christi TX have their whole homework done prior to sealing any deal for you.
Real estate agents have numerous connections and thorough knowledge of paperwork and processes which can save you time and money and stave off potential headaches. Working with Corpus Christi realtors could make your life lot easier without costing you a penny.
So if you are convinced that working with an agent would give you the benefit of market knowledge and negotiation experience, partner with realtors in Corpus Christi TX today.
