Have you ever heard about a particular home for sale, only to find it doesn’t show up on the listings? All too often, people decide to sell their homes without going through a realtor to do it. If the seller knows how to do it successfully, this may not be a bad thing, but there’s a lot to selling a home and if the seller isn’t careful, the situation could turn into a disaster pretty quickly. As Dean Graziosi notes, sometimes parties get excited and begin the process without proper consideration.
Before deciding to purchase a home from a seller who has decided to forego the realtor, you’ll want to do your homework so-to-speak. This means knowing as much about buying a home as you can, and learning as much about the seller as possible. Is the person serious about selling? What paperwork has been prepared and is it legitimate? Don’t even sign anything you aren’t sure about and always have an attorney look at anything before you sign. Even if you are well-versed in these types of contracts, surprises can always crop up. In an article post in Fox News last year, this topic was discussed at length, with the writer pointing out “There are pros and cons for both parties and major considerations before either signs on the bottom line.”
Communicate with the seller to make sure all parties are headed in the same direction. You should know what you’re getting before buying it and both you and the seller should agree on several points before ever making a deal.
Agree on a price. This isn’t always easy. In fact, when a home is sold off the market, figuring out the price at which you are willing to buy and the one at which the seller is willing to accept can be quite difficult. You’ll probably need to negotiate this point a bit, but hopefully you will eventually come to an agreement that suits all parties involved. According to Dean Graziosi, “in some cases deals can fall apart over a few thousand dollars.”
If you find it too difficult to agree on a price, consider having the home appraised. The seller may decide to do the same. This determines what a fair market value on the home would be and can make the decision a bit easier overall. If each appraiser comes up with a different figure, both you and the seller may decide to split the difference.
Sometimes, a deal simply cannot be worked out. When this occurs, it’s often better to cut your losses and continue your house hunt elsewhere.
Oftentimes, sellers decide to sell a home off the market because there is no commission involved. Buyers like this option as well for the same reason. Sometimes, however, it is better to pay the realtor and receive the valuable advice and assistance. Remember, a home is a huge investment, probably the biggest you’ll ever make. You can avoid making mistakes by using a realtor and sticking to homes that are on the market. Should you decide to purchase a home that isn’t, do your homework and be careful. You can learn more about this topic and others by visiting Dean Graziosi’s site.