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Buying Direct from Seller |
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How do I go about buying a house straight from an individual seller? We have rented this house for 6 years and the seller wants us to buy from her directly. No realtor, etc. She wants to save money and so do we. What are the legal steps we need to take?
Thank You |
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It's true you folks don't need many of the real estate agent's usual services, but perhaps you can pay for the parts you do need. You may want to hire a local real estate broker, perhaps by the hour, to give you information about the sale prices of recent similar properties and to negotiate a written contract of sale. If you need to arrange financing, the agent can help steer you in the right direction. You will certainly want your own real estate lawyer, but frankly brokers' services come cheaper than lawyers', so I'd save the lawyer for the closing, the final settlement. Or it's possible -- I don't know closing customs in your area -- that the whole thing is usually handled by title or escrow companies. Again, an agent can give you information. Let me know if you find an agent willing to take on such an assignment, and how it works out. I'm interested. |
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Edith
Originally published on August 19, 2007 |
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