Do I Need A Realtor To Buy Or Sell A Home?
It is not required that you use a realtor to buy or sell a home. The only professional you must hire during the purchase and sale process is a real estate lawyer. While you can save some money by not paying a commission to a realtor, there are a lot of benefits to engaging a realtor for your real estate transaction.
What A Realtor Can Do For You
A good realtor can add a lot of value to the process by saving you time. When you do not have a realtor, you are forced to invest time in looking for a home or looking for a purchaser for your home. Often realtors will spend many hours assisting you with your real estate transaction.
Realtors help purchasers and sellers with their transactions by:
- Listing their home
- Searching for homes in their desired location and price range
- Researching list prices and list to sale price ratios
- Putting together the Agreement of Purchase and Sale
- Highlighting conditions in the agreement that protect the investment
- Negotiating the buying or selling price of the property
- Helping buyers find a professional home inspector
- Arranging visits prior to the closing date
Buying Or Selling Without A Realtor
If you decide to go ahead without a realtor, you are must ensure you go through the necessary steps of the real estate transaction process. Some of these steps include arranging for a mortgage pre-approval, research listing prices or listing your own property and writing your own purchase and sale agreement.
It is strongly recommended that you get the Agreement of Purchase And Sale reviewed by a lawyer before signing it. This is especially important when no realtor is involved. The agreement often contains clauses that make the transaction conditional on buyers and sellers fulfilling certain requirements before the contract becomes binding. Without the guidance of a professional to advise you, you could sign a document that will not safeguard your interests. As a result, you may lose money during and after the real estate transaction has closed.
Contact Filice Law Today
We can help advise you about your home purchase or sale. If you decide you would like to engage the services of a realtor, Filice Law can refer you to realtors and other professionals. Call our Ancaster, Ontario office at 905-581-2266 or use our online form to reach us.