Buying a property without a real estate agent

[ybitz]

Do real estate attorneys provide offer contracts that’s similar (identical?) to the ones that one signs with a realtor? Not sure if those CAR forms are the gold standard for real estate transactions or not.

[EconProf]

Not sure what you are proposing here, with two attorneys. Does that mean one on each side? That works out to two deal killers moving the transaction along. Most attorneys don’t know enough about the intricacies of RE, unless that is all they do.
Real estate agents of course vary widely in quality. To have a good one working only for you is almost always worthwhile. They insert themselves as middlemen in a complicated, lengthy transaction that is filled with landmines. They keep the two warring sides apart in what is essentially a zero-sum game. They move the transaction along and coordinate deadlines, other parties, and necessary paperwork. Good agents earn their money.
BTW, I would not use a friend as an agent–you can’t ream them out if they screw up.

[EconProf]

Not sure what you are proposing here, with two attorneys. Does that mean one on each side? That works out to two deal killers moving the transaction along. Most attorneys don’t know enough about the intricacies of RE, unless that is all they do.
Real estate agents of course vary widely in quality. To have a good one working only for you is almost always worthwhile. They insert themselves as middlemen in a complicated, lengthy transaction that is filled with landmines. They keep the two warring sides apart in what is essentially a zero-sum game. They move the transaction along and coordinate deadlines, other parties, and necessary paperwork. Good agents earn their money.
BTW, I would not use a friend as an agent–you can’t ream them out if they screw up.

[EconProf]

Not sure what you are proposing here, with two attorneys. Does that mean one on each side? That works out to two deal killers moving the transaction along. Most attorneys don’t know enough about the intricacies of RE, unless that is all they do.
Real estate agents of course vary widely in quality. To have a good one working only for you is almost always worthwhile. They insert themselves as middlemen in a complicated, lengthy transaction that is filled with landmines. They keep the two warring sides apart in what is essentially a zero-sum game. They move the transaction along and coordinate deadlines, other parties, and necessary paperwork. Good agents earn their money.
BTW, I would not use a friend as an agent–you can’t ream them out if they screw up.

[EconProf]

Not sure what you are proposing here, with two attorneys. Does that mean one on each side? That works out to two deal killers moving the transaction along. Most attorneys don’t know enough about the intricacies of RE, unless that is all they do.
Real estate agents of course vary widely in quality. To have a good one working only for you is almost always worthwhile. They insert themselves as middlemen in a complicated, lengthy transaction that is filled with landmines. They keep the two warring sides apart in what is essentially a zero-sum game. They move the transaction along and coordinate deadlines, other parties, and necessary paperwork. Good agents earn their money.
BTW, I would not use a friend as an agent–you can’t ream them out if they screw up.

[EconProf]

Not sure what you are proposing here, with two attorneys. Does that mean one on each side? That works out to two deal killers moving the transaction along. Most attorneys don’t know enough about the intricacies of RE, unless that is all they do.
Real estate agents of course vary widely in quality. To have a good one working only for you is almost always worthwhile. They insert themselves as middlemen in a complicated, lengthy transaction that is filled with landmines. They keep the two warring sides apart in what is essentially a zero-sum game. They move the transaction along and coordinate deadlines, other parties, and necessary paperwork. Good agents earn their money.
BTW, I would not use a friend as an agent–you can’t ream them out if they screw up.

[DataAgent]

“Recently I found a property I think fits me and the price is reasonable.”

So is this property already listed with a realtor?

[DataAgent]

“Recently I found a property I think fits me and the price is reasonable.”

So is this property already listed with a realtor?

[DataAgent]

“Recently I found a property I think fits me and the price is reasonable.”

So is this property already listed with a realtor?

[DataAgent]

“Recently I found a property I think fits me and the price is reasonable.”

So is this property already listed with a realtor?

[DataAgent]

“Recently I found a property I think fits me and the price is reasonable.”

So is this property already listed with a realtor?

[briansd1]

It seems to me like the two sides have already worked out price, and all they need to do is complete the transaction.

If that is the case, adding an agent increases the costs and complications for nothing.

You don’t need an attorney. The title company won’t issue a policy if there is a clout on title. And if you’re getting a mortgage, the bank won’t fund the purchase unless there’s title insurance.

[briansd1]

It seems to me like the two sides have already worked out price, and all they need to do is complete the transaction.

If that is the case, adding an agent increases the costs and complications for nothing.

You don’t need an attorney. The title company won’t issue a policy if there is a clout on title. And if you’re getting a mortgage, the bank won’t fund the purchase unless there’s title insurance.

[briansd1]

It seems to me like the two sides have already worked out price, and all they need to do is complete the transaction.

If that is the case, adding an agent increases the costs and complications for nothing.

You don’t need an attorney. The title company won’t issue a policy if there is a clout on title. And if you’re getting a mortgage, the bank won’t fund the purchase unless there’s title insurance.

[briansd1]

It seems to me like the two sides have already worked out price, and all they need to do is complete the transaction.

If that is the case, adding an agent increases the costs and complications for nothing.

You don’t need an attorney. The title company won’t issue a policy if there is a clout on title. And if you’re getting a mortgage, the bank won’t fund the purchase unless there’s title insurance.

[Author]

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