What are the reasons that lead a person to buy a home on their own, without an agency?
Buying a home without an agency
I look at this blank page and think about what to write--I should make an article that would appeal to people who want to sell or buy a home and decide not to go to a real estate agency, thinking that by doing it themselves they can get a financial advantage.
Because let's face it: who doesn't want to save 3-4% commission on the sale price of the property?
I should start writing (as many of my colleagues do) about how good we PROFESSIONAL real estate agents are, how many years we have been doing this job, theethics the transparency blah blah blah ...
The usual record that can be found on the "about us" (or "mission!") page of almost any agency's website.
You know what dear reader?
No.
This is not what I want to talk to you about in these lines.
I want to make it easy for you.
I will now list the things that can go wrong during a real estate sale and purchase negotiation, and thus what we real estate agents prevent.
All those things that can go wrong in a trade
(based on my experience) and how a real estate agent could make you avoid them.
Hello?
Let's start.
1 The seller and buyer often do not have the expertise to interpret the documentation and verify its correctness (deed of origin, approved plans, variances, various changes, floor plans etc. ) to have them explained to you you have to consult 1 or + appropriate technicians(paying them).
2 The seller often does not have (or even know where to get) the necessary documentation that would allow the buyer to be able to evaluate all aspects of the deal BEFORE the preliminary agreement.
3 Buyers often lack experience with mortgages and financing, and rely on their own bank, missing out on more favorable terms with other lenders, leading to the possibility of significant financial loss.
4 On average, the homeowner will tend to overestimate his or her home, but more importantly will omit potential defects or problems with the property, which a third-party opinion of the real estate agent might bring out. Again, the failure of a real estate agent to assist may result in a more costly purchase for the buyer.
5 Often, a mortgage is used to purchase a property. Coordination-Bank-Notary-Expert-Party is no child's play. Punctually, a document is missing that stops everything, turning a practice that would normally take 20 days into an agony that can last several months. The passage of time can cause overruns in deadlines, and sometimes the failure of the negotiation/sale. A real estate agent knows his or her way around and is responsible for putting the right pressure on those in charge to get everything done on time.
6 The experience and knowledge of a real estate agent ( add sometimes any conventions ) can provide you with qualified interlocutors for the renovation of your property, offering their knowledge to carry out the renovation appropriate to your needs.
7 Between the preliminary and the deed 1000 unforeseen events can happen, the skills of a real estate agent can help you solve them easily and without stress ( and believe me, there will be a lot of stress!).
8 The seller is often not aware of the fulfillments necessary to be able to guarantee the buyer a serene sale ( outstanding tax charges, condominium charges, extraordinary expenses ) a real estate agent is, and verifies them for you before the final deed.
9 Sometimes finding the documentation necessary for the purpose of sale is not feasible by "conventional" methods, or at any rate conventional methods may need such timelines that they can blow up the negotiation.... A good real estate agent knows HOW and WHERE to find the right documentation and obtain it in the correct timeframe.
10 Last but not least, if you negotiate directly with the seller on the price of a property once you get to a stalemate it will be difficult to salvage the negotiation and you risk jeopardizing the closing of the deal... (you can be as good as you want but if you are on the seller's dick, you are unlikely to get what you want) the ability to negotiate the price or the terms of the sale, on the part of a real estate agent, together with the relationship of confidence/confidence that has been built up with the seller over time, allow you to get what you want at the best possible price.
These are just 10 points that I have summarized for you in this article, and for brevity's sake I will stop here.
Are you thinking of buying a home from a private individual?
I can assure you that there are many facets that affect the outcome of a negotiation...If after reading this post, you are still convinced that you can do it on your own, I won't stop you. It's okay for you to try on your own. Maybe it even works out for you, not all buying and selling is complicated, and (thank God) there are sellers who have everything in order and can sell without any problems...
Believe me, though, when I tell you that 3 or 4 percent of a property's price is NOTHING compared to the potential economic losses you may find yourself suffering from mishandling a purchase or sale on your own!
Fortunately, the media agree with me 😉 !!
Despite everything you want to do it yourself? At least use a properly done preliminary contract....
You can download a word draft of a preliminary here!
