Buying a house without a realtor

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cowbman
Posts: 235
Joined: Sat Jan 14, 2017 2:10 pm

Re: Buying a house without a realtor

Post by cowbman »

In a VHCOL locale, I imagine using an attorney would be much cheaper than 1-3% of the home purchase price. Any disincentive to doing your own leg work and using a good real estate attorney to ensure the timeframes, contracts, etc. are correct? Assume the buyer can adequately price the home and deal with inspections, offers, etc.
bsteiner
Posts: 5386
Joined: Sat Oct 20, 2012 9:39 pm
Location: NYC/NJ/FL

Re: Buying a house without a realtor

Post by bsteiner »

The broker’s job is to find a buyer. In this case, the seller has already found a buyer.
Firemenot
Posts: 459
Joined: Wed Apr 01, 2020 8:48 pm

Re: Buying a house without a realtor

Post by Firemenot »

AkwardDoct@rd wrote: Fri Apr 19, 2019 10:39 pm Has anyone bought a house without a realtor? A kinda awkward situation developed (realtor with myself and another client and we both wanted to place an offer but the other client chose to place first). The realtor stated it would be a conflict of interest to represent both parties which I think is reasonable. Anyone have experience without using a realtor?
Haven’t read the thread. Place the offer directly with seller’s agent. You’ll have a leg-up due to the fact seller’s agent would collect a double commission if your offer is accepted. In my experience they’ll do all they can to collect that double commission and be in your corner.
Ostentatious
Posts: 278
Joined: Fri Aug 15, 2014 6:34 pm

Re: Buying a house without a realtor

Post by Ostentatious »

I once did when buying a new house from the developer, the salesperson split the amount the realtor would have earned with me. Had no issues.
WolfgangPauli
Posts: 405
Joined: Sun Aug 23, 2015 8:28 am

Re: Buying a house without a realtor

Post by WolfgangPauli »

I do not believe a realtor is necessary. A lawyer is a MUST.
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AB609
Posts: 54
Joined: Thu Oct 17, 2019 9:02 am

Re: Buying a house without a realtor

Post by AB609 »

I've sold several houses without them and several with them. The transactions without them went smoother and had no issues. I always hire a real estate attorney to represent me and prepare the contract. Having a contract written to your specific situation is valuable. Multiple RE Attorney's have told me the boiler plate RE contracts are mostly written to ensure the RE Agent gets paid.

I don't like be insulated from the buyer or seller. Being able to talk to other party is valuable and I have walked away from houses I liked because the seller was squirrelly.
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