Buying a property without a realtor

[Sousie El]

I came across a deal and the owner wants to sell by owner only. Since I'm still new to this, would the community here please suggest what I should do to make sure I'm protected and good? Should I discuss some bullet points and do a small contract between me and the buyer or is there a standard contract for such that we can agree up on terms prior to handing the deposit to the title company? Muchly appreciated.

[Lindsey Mannix]

Hi,

I would highly suggest using an agent to protect yourself. The seller can choose to not have an agent represent them but you can still have an agent represent you. They can negotiate their fee with you and the seller to ensure they're compensated for the work they are doing.

~ Lindsey

[Matthew Paul]

Get an real estate attorney to draw up the contract , and refer you to a title company 

[Jason Matthews]

Hi Sousie!

I would reccommend protecting yourself in terms of the legality of the transfer, ensuring there aren't any violations, 3rd parties requesting some claim of ownership of the property, most importantly the structural integrity of the property overall is sound and there aren't any big ticket items the current owner should righfully be taking care of that will then be additional issues you inherit. 

It's difficult navigating the home purchase process in general, but a lot of more difficult buying something with costly surprises you didn't plan for. 

Depending on how you're planning on financing the property, also ensure you are protected with some contingency just incase the property is not worth what the seller is asking for in this market. Message me if you have any additional questions. 

[David Ramirez]

Hi Sousie, 

You don't need a Realtor! 

Yes, there are a couple of things you will want to add to your purchase and sale agreement. Reach out, and I can help.