like the property but can see having to spend a certain amount in decorating costs, and thus will offer much less.
CONTRACTUALLY SPEAKING…
There are many contracts and documents involved in purchasing a house. The stack is more than an inch thick. Unless you’re a real estate attorney or title agent, these documents will be foreign to you. Yet, they require detailed and accurate completions. Buying a property is not necessarily a fill-in-the- blanks transaction. One mistake, let’s say in title work, could haunt the buyer well down the line after purchase. A real estate agent deals regularly with these contracts, conditions, and unexpected situations and is familiar with which conditions should be used, when they can safely be removed, and how to use the contract to protect you.
YOU WON'T NECESSARIL N'T NECESSARILY SAVE MONEY
The point of not using a real estate agent would be to save money, right? Otherwise, why would someone turn down professional assistance in finding a home? It’s unlikely that both the buyer and the seller will reap the benefits of not paying real estate agent commissions. It works like this: An owner selling his own FSBO (For Sale By Owner) will price the house based on the sale prices of other comparable properties in the area. Most of these properties will be sold with the help of an agent; therefore, the seller profits in getting to keep the percentage of the home’s sale price that might otherwise be paid to the real estate agent (usually 5% to 6%). Buyers looking to purchase a FSBO may believe they can save money on the home by not having an agent involved, and so they look solely at FSBO houses. They might expect money to be
4
Powered by FlippingBook