When you buy a home using a buyer’s agent, you will find that much of the pesky paperwork and negotiation is handled for you. As long as you are working with a good agent, all you really need to do is have your finances in check and make sure that all of the paperwork is signed.

However, if you are buying from somebody who is selling the home by themselves, a number of complications get added into the mix. As such, you need to be aware of the things you need to do differently when buying a property that is for sale by owner.

Get Pre-approved For A Loan

So you have viewed the property and you love it. You can see yourself living in it for many years to come so you need to do everything that you can to make sure that the seller feels comfortable in the fact that you want this house.

The best way to do that right off the bat is to get pre-approved for a loan on the property. Discuss with the seller what they believe the property is worth and then arrange for a loan for a figure near that sum, if not on it. This shows the seller that you are a serious buyer and that a bank or lender has enough confidence in you that you would be capable of buying the house, rather than just wasting their time.

Get It Appraised

When buying directly from the owner, you will need to make sure that you are not getting ripped off. After all, without estate agent fees to worry about you should be able to get the property for a little less than you would if you were both using a third party.

As such, you should ensure that you get your own appraisal of the property completed before signing up for anything. This way you will get an independent opinion about the house that you can use when it comes time to negotiate a price. Be very wary of any seller who will not allow you to bring people in to look at the house for you.

Speak to An Attorney

The main barrier in buying a home directly from a seller is the paperwork involved. You can agree a price in principal, but without the paperwork to back it up the offer is completely pointless. As such, to make a proper offer for the property, you are going to have to make sure that all of the associated paperwork is completed and agreed upon.

If you are determined to keep real estate agents out of the transaction, your best bet is to speak to an attorney to find out exactly what you need to do to transfer ownership of the property. Different states will have slightly different rules, so it is important to understand the things that you need to do. With this information, you can make a formal offer and the seller will be more confident that everything will go through without a hitch.

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