How to Buy a House Without a Realtor

Buying and selling a home without the aid of a Realtor is fairly easy to do. In fact, a large percentage of people choose to do so due to the fact that the Realtor takes a large share of the profit from the sell of the house. Follow these guidelines to learn how to buy a house without a Realtor.

Difficulty: Moderate

Instructions

Things You'll Need:

• City or county map
• Newspaper classified section

1. Drive around. Like them or not, using a Realtor to help you find a home is convenient because you can walk into their office and find a number of houses that they have listed. If you are undertaking this task on your own, you will have to find the homes yourself. If you are familiar with the area that you are house hunting in, it is possible that you have already decided on the locations that you would like to as well as the locations that you would not. Fill up the tank with gas and drive around until you find something that catches your eye.

2. Investigate. To find the average price range of the area in which you are house hunting in, locate a home or two that is for sale through a real estate office and inquire about the price. Comparing the prices of homes may be a good bargaining tool for you to use when it comes time to negotiate on the price.

3. Make appointments. Just because you are not using a Realtor to buy a house, does not mean that you can barge in on people in effort to see the inside of their home. If the house is listed with a real estate office, you will have to contact them to set up an appointment, but if the house is for sale by owner, call the number listed on the for sale sign. Here's a hint: Be respectful and courteous of the seller's time and privacy, they will in turn respect you when it comes time to bargain.

4. Hire a lawyer. When you have found the perfect house, the seller will have a contract drawn up for you to agree to and sign. You should hire a trusted lawyer to look over the contract and make any changes on your behalf. If possible, it may be a good idea to have your lawyer present at the closing transaction, but it is not necessary.

5. Schedule an appointment to close the transaction. The closing transactions will be done at a title and abstract office. Some banks house their own title and abstract offices, and others are free standing offices. When working without a Realtor, you will have to decide how long you will give the seller to move out. In most states, the seller has to have 30 days if given an option, but when you are working the details out between the two of you, the seller may be quick to move out.