There are a lot of great reasons to buy your next home or property privately. You are probably already shopping for properties you might be interested in seeing, so why not take the next step too, and complete the process on your own. You will be surprised how easy and uncomplicated the process is. Here are some of the advantages of buying privately.
1. You are in control of the process
When you are buying privately, you only see the properties you want to see, and you can arrange times that work for you and the seller, rather than going through a third party, or two third parties.
2. You get to meet the seller
For some reason, the real estate industry doesn’t want buyers and sellers to meet each other, but you can often tell a lot about a home or a property by meeting the people who are selling it. A home seller will often have information about their property that a real estate agent wouldn’t have access to.
3. It is less complicated
When you buy using a real estate agent, it can be a pretty complicated process. You’ll have to sign quite a few documents, but they all deal with your relationship with the agent, not with actually buying a property. Then, unless you’ve already found some properties you want to look at, you have to wait for the agent to find them for you, and they may or may not be what you are looking for. If you want to make an offer, you have to fill out a form with your agent, which he or she will take to another agent, which will then go to the seller, and then back to your agent, and then back to you. Counter offer? More paperwork, and more time waiting.
If you buy privately, you can contact sellers directly, arrange a time to take a look, and if you like what you see, make an offer. You can negotiate with the seller verbally. Once an agreement is reached, you put it in writing on one easy-to-use form, and take it to a lawyer. No contracts, no commissions, and the lawyer will look after the rest.
4. It is empowering
The Real Estate Industry has done a pretty good job of convincing people that buying a property is a really complicated process, but in reality, it is the same as buying anything else. The only difference with buying a property is that you need a lawyer to make sure you get the title to the property, and the seller gets the money. But you need that if you use a Real Estate Agent too.
You’ll be surprised how easy and uncomplicated buying a property actually is once you try it on your own, and you’ll be amazed by how empowering the process is as well.
5. You can save money
The Real Estate Industry often boasts that it doesn’t cost anything for a buyer to use their services, that the entire cost is paid for by the seller. But in reality, it is the buyer who writes the cheque for the property, and any commissions paid from the sale come from the proceeds of that cheque. Now, we don’t think a home or property should be worth less money just because no agents are involved – but the seller may have a little more wiggle room if he or she gets to keep all of the proceeds of the sale, rather than just 95 percent of the proceeds of the sale. And as a buyer, it is nice to know that all of the money you are paying for the property is actually going to the seller.