Directly Buy Your Home from the Owner

There are events in our lives when we need to vacate our homes and find a new one.  A new work assignment, marriage and migration are just some of the many reasons why we are looking for a new abode.  Whatever reasons we may have, we still ought to know a few things about buying a house.  We need to know the different terminologies and processes involved in this kind of transaction.  For instance, when you see a sign that bears “House on sale by owner”, it means that the owner of the property is offering it for sale.

If you have been longing to own a home for long time and you have actually saved up for it, I’m quite sure that you value every bit of your money that you put into it.  By directly purchasing from the owner of a house, you can definitely save you a lot of money.

Most people usually obtain mortgage when buying their own homes and begin a new life.  There are instances when people have to sell their homes and purchase a bigger one to accommodate a growing family or to fulfil a job requirement.  Some homeowners choose to offer their homes directly to buyers and not get the services of a real estate agent.  This way, owners will not anymore have the business of giving agents their commission from the sale.

If there is a real estate agent present, the buyer usually shoulders the amount added to the original selling price, which represents the cut of the agent.  The job of an agent is to look for home buyers, advertise the property and sells it, thereby, giving him the right to get a commission.  This is the reason why it is better to buy straight from the owner.  Not only will you be able to negotiate a better price, but you will also get to choose a home at your own discretion without being influenced by a real estate agent.

However, when you want to transact directly with the buyer, you must have an in depth knowledge of all the processes involved in it, such as the negotiation process, real estate laws in your area, home inspection, etc. It is very advantageous on your part if you know the loops and holes of real estate and buying the home that you’ve long been dreaming will be an uncomplicated matter.



Published by in Real Estate, on September 25th, 2010

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