Steps to cut out realtor?

[Spencer Ellingson]

Hi there,

I found a property in our local newspaper and we want to do a transaction with out realtors. I currently own 8 properties and every one of them has been done with a realtor. I"m trying to think of the steps that the realtor actually helps with besides getting the negotiation done.

What are things the realtor usually does that I"ll need to manage on my own?

Thanks for the advice.

Spener

[Christopher Phillips]

Spencer Ellingson

Some general steps:

Comps/market analysis to gauge property value.
Try to gauge seller motivation.
Write up the offer, include preapproval or proof of funds, justification points from analysis...
Negotiate with the seller, hopefully offer accepted.
Get an inspection. Discuss issue.
Negotiate any issues.
Lock in final terms.
Work with lender for anything needed. Clarify issues.
Meet with the appraiser, confirm information from contract. Discuss comps if needed.
Make sure the title search is ordered.
Make sure the survey is ordered if a recent one isn’t available.
Go to buildings department to check on permits for work done on house. Check house to information in CO.
Resolve issues with title search or property survey.
Discuss issues with underwriter if needed.
Hopefully get conditional approval. Clear up any issues.
Final walkthrough before close.
Head to closing with certified check and personal check book for extras.