DIY Home Realty

>>1152824
I'm not sure why you'd buy a home without a realtor as the seller pays the commission.

>>1152829
>seller pays 12% commission

or

>seller pays 0% commission
>seller passes some of that savings on to the buyer

>>1152824

>If a home is for sale through a realtor, is there anyway to purchase it from the owner without including the realtor?

Sure...but you'll have to wait. When a seller hires an agent, they sign a contract...and if the house sells within the time frame of the contract, then the seller pays the realtor fee...

If the contract is broken early, and the seller still manages to sell the house, they may very well be bound to the time frames of the previous contract...still have to pay the realtors fee...

>>1152835

My last house I sold I payed 4% of selling price...

>>1152837
>My last house I sold I payed 4% of selling price...

you are correct. No idea where I got 12% from.

>>1152835
I've never heard of 12%. Almost all of the listings in MN/WI are between 4-7%.

You'll limit yourself to a very small market if you are looking to buy without realtors on either side of the transaction. Not saying it can't be done, but in my opinion it's not worth it. Who are you going to sue if you guys write up the purchase agreement wrong. What's keeping the seller from just selling it to someone else or backing out of the deal? Are you going to write an individual a hefty earnest money check? No thanks.

>>1152824
just search for 'for sale, from private' - whether buying a house from a cheapskate who thinks they can /diy/ everything themselves is actually a great idea? who knows.. but that those cunts make too much cash, for little or no benefit to society, argument, there be none.

I recently bought a house using a realtor, and when I was young my mom bought one private party, here's a little bit of info on how each went down and why we did it the way we did it.

We used a buyers agent because the market we are in is crazy for our price range with houses going up for 3 days (Fri, Sat, Sun.), sellers getting multiple offers, and selling for more than what they're listed the following Monday. Our realtor was well connected and got us showings on houses way before we could have if we were on our own. Once we found our house she handled all the negotiations and helped us understand clauses in the contract and whatnot. When buying you have certain obligations to meet and if you miss a deadline to sign paperwork you can lose earnest money (money put up up front when making an offer, in our case 3500). Our realtor and mortgage broker made sure we had the documents signed on time and never missed anything. We didn't have to pay her anything, and the commission on the sale was split by our realtor and the sellers agent. Ultimately we got a great leg up in the buying process and the house sold quickly for the sellers, win win.

No realtor: My mom bought her house in a small town with a slow market. It was listed in the paper FSBO and they used a lawyer to write up the contract for 5 or 6 hundred dollars. She bought the house at less than it was listed and about 5k less than it appraised for, and had the contract written so the seller paid all closing costs. She was only able to pull all this off because the market was slow and the seller was saving thousands by listing it herself.

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>>1152824
>not just looking for Forclosures.
Why would you pay asking price for a house and not grab a cheap as fuck house?

>>1152883
Because foreclosures are way down from a few years ago, depending on your area.

>>1152824
If you're the seller, they handle some of the negotiation for you, know the rules and local laws, when to tell a potential buyer, "no, they're not fixing that", and when to tell you, "you need to agree to fix that". They also are supposed to do comps, so they can tell you what you're house is worth on that market, and what to list for (pricing it too high often gets you less money, because the house lingers on the market, and one you start doing the price, people wait like vultures). They go through your house with an unbiased eye, and tell you what to put in storage, and what to leave out. They handle the showing schedule, etc.

If you're the buyer and the seller, they give you a significant discount on their fees if you buy from them as well as sell (and if they don't, you shouldn't work with them).

If you're just the buyer, they have access to all the listings, and connections to do the showings. They again, do the comps, and can tell you what a reasonable offer is on a house Also, if only the seller has a realtor, they can play games and skim way too much money out of the deal, screwing both parties over.

>>1152824

I've bought one house and one lot without a realtor, and sold one house without a realtor.

It's not that it's hard to do, but you have to put time and energy into

-- researching the local market
-- researching the laws and regulations and forms
-- figuring out the appropriate price to ask and what your lowest acceptable figure is
-- figuring out how to bring your property to the attention of likely buyers
-- dealing with all sorts of looky-loos and curiousity seekers and a few people that clearly have a screw loose AND be able to tell them from the actual likely buyers
-- etc. etc.

I did it successfully and for a decent (pleasing) price both ways. But it was real effort and if you're not willing to do it right, use a realtor.

The easiest houses to buy/sell DIY are those that are not too unusual (single family dwellings that are in the middle of the market and in a good location, for example). The more unusual the house is, the more you will want to consider a realtor.

>>1154625
>If you're just the buyer, they have access to all the listings

The MLS is widely available without a realtor.

Most ordinary houses, and a fair amount of lots/land, are on the MLS.

http://www.realtor.com

>>1152839
>Who are you going to sue if you guys write up the purchase agreement wrong.

Example sales agreements for your state are widely available on-line.

>What's keeping the seller from just selling it to someone else or backing out of the deal?

Lawyers, just like a realtor would use.

>Are you going to write an individual a hefty earnest money check?

That's what escrow is for, dude. A bank holds the money securely until closing.

There are valid arguments for using a realtor. None of these are among them.