One way to buy a house is to go directly to the source. Many people don’t do this, only to find themselves ultimately paying the commission and other costs of working with an agent. You CAN buy a house without a middle-man. In our latest post, we will provide tips to help you save money by buying your next house without an agent!
You can remove all the expenses of a middle-man by buying a home directly from a seller. Purchasing a property can be complicated, so you need to know what you’re doing. While agents can be helpful in this process, it is much more economical in certain situations to do it yourself. Here are just a few things to consider to get you started!
Run The Comps
When working with an agent, they provide information about homes that are currently on the market, as well as those that have recently sold. This information helps you determine what you should pay for a home in the area. Take your time to research and observe the market before agreeing to buy a house.
Set Boundaries
Before looking for a house, make a list of things you need, want, and don’t want. Set a maximum price and don’t overpay. You don’t want to be stuck with buyers remorse down the road because you bought a house with emotion. You must be able to keep yourself in check – no one will be there to stop you from making an offer that is too high. Ensure that all of the items on your list are checked off when looking for a home!
Get Pre-Approved
Become pre-approved in advance if you plan to use financing when you make an offer on a house. By having your pre-approval in writing, sellers are able to see that you have the funds to follow through on your offer. If you decide to purchase a home without an agent, make sure you have everything put together in order to be taken seriously by a seller.
Look At Many Properties
Agents have the ability to bring you all sorts of properties to look at, even those you would have never considered. Look at several houses, and don’t limit yourself to choosing one of the first few you see. However, if you’re confident that you found the right home, don’t hold back on making an offer either. Others may be looking at the property, likely working with an agent who can quickly get their offer seen.
Include Contingencies
It’s a good idea to have a way out when making an offer on a house. Ensure that your offer is contingent on the property passing inspection. You don’t want to agree to buy a house, only to discover that there are major problems with it after the inspection.
Inspection
You can save thousands in repair costs by paying a few hundred dollars to a professional. Never buy a home without having a thorough inspection completed beforehand.
Talk To A Lawyer
Before signing, contact a lawyer to ensure everything is proper with the purchase. Have them review the contract, warranty, and title history. Spending a couple hours with a lawyer is going to be less expensive than paying a 6% commission to an agent, and can prevent you from buying a property that isn’t right for you.
Are you interested in buying a house without using an agent? We can help! Send us a message or give our team a call now! (832) 662-2202
HTG-SCP49a-MGM