Home Buying

The Ultimate Guide on Buying a House Without a Realtor

By July 18, 2018 No Comments
buying a house without a realtor

There’s a topic you probably didn’t expect a realtor to offer advice on, right? We’d still rather you have the tips you need before venturing out on your own. If you don’t want to bother with hiring a realtor on your house hunt, here’s some helpful info you need on buying a house without a realtor.

Every year, more than five million homes are sold. While some people opt to work with a realtor to buy their home, it’s definitely not necessary for a successful purchase.

If you’re interested in going at it alone but aren’t sure where to begin, keep reading.

Listed below are all the tips you need to feel confident buying a house without a realtor.

Do Your Research

Searching for a home can be daunting without the help of a realtor. To avoid getting overwhelmed with the process, be sure to start early and set aside plenty of time to scour real estate and online auction websites and find homes that interest you.

Before you make an offer on a home, you should also do some research and find out how much comparable homes were sold for.

List prices, by themselves, aren’t sufficient for determining the value of a home. Doing some extra research will help you avoid paying more than you should.

Get to Know the Neighborhood

Realtors usually have some knowledge about various neighborhoods. It can be hard to tell if a neighborhood is right for you without talking to someone who lives or works there. But, it can be done.

Do some research online and ask around to find friends or family who live close by and can tell you if they think the neighborhood is right for you.

If it’s possible, you might also want to consider taking some trips to the neighborhood to see if you notice anything questionable.

Include Contingencies in Your Offer

In the event that everything isn’t to your satisfaction, contingencies will help you back out if necessary without losing your earnest money.

Common contingencies include:

  • Home inspection contingencies
  • Mortgage financing contingencies
  • Sale of current home contingencies
  • Clear title contingencies

Of course, in a perfect world, you won’t need to do this, but it’s still good to have the option, especially if you’re not working with a realtor who’s experienced in these kinds of deals.

Hire a Real Estate Lawyer

You may not want to hire a realtor, but you should definitely consider hiring a real estate lawyer. They’ll provide you with invaluable advice and review your contract to make sure you’re getting a fair deal.

Ask friends or family members for a recommendation for a real estate lawyer. If they don’t know anyone, check out the American Bar Association’s website to find someone in your area who’s qualified to offer you advice.

If you’re worried about the cost of a real estate lawyer, keep in mind the fact that they typically don’t charge exorbitant prices for their services. You usually won’t need to meet with them more than once or twice, and, most of the time, you can get advice for as little as $300-$500.

Interested in Buying a House Without a Realtor?

Do you think buying a house without a realtor is right for you? Are you looking for a home in or around the Augusta area?

If so, check out our property listings today. We have tons of homes available to fit every budget!