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Should you buy a house on your own or hire a realtor?

Posted by Balaji on November 10, 2020
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Many times in our lives, we dreamed of owning a house and it would perfect. Great architecture, perfect dimensions, perfect flooring, all is practically perfect. As we pour most of our savings to buy a house, perfection is what we hope to achieve. That perfection will turn the house magically into a home of comfort.

When the time finally arrives, you would be challenged with a crucial question, “Should I buy a house on my own or should I hire a realtor? The solution to that depends on the expertise you have in the real estate industry and your city’s market performance and functionality.

Buying a house on your own

Suppose you plan to go on a house search alone. First, you should have the time to visit the various properties in your preferred location. Detailed knowledge and price comparison of similar properties sold in that locality, ability to grasp legal terms and conditions, strategies on how to inspect a property, and finally strong negotiating skills.

Even if you lose on a single factor, there is a high chance of falling into a trap either price-wise, policy-wise or you might end up in a defective house. In all the above occurrences, there are also actual incidents because the consumer did not have enough experience.

This doesn’t mean you shouldn’t have to buy a house on your own. The purchase is expected to be secure if the seller is someone you know and trust, which usually includes your relatives and friends. But even then, it helps to have someone in your corner who can recognize all the legal provisions that come with the agreement and clarify them.

Hiring a Realtor

A Realtor is a specialist who has skilled expertise in property dealings and market performance which consistently grows with increased experience. A Realtor is a specialist who has skilled expertise in property dealings and market performance which consistently grows with increased experience. A real estate agent would incorporate all the buyer’s suggestions and interests and then come up with a variety of property suggestions. A Realtor would help you with all the crucial and even minor aspects:

  1. Search properties according to your budget, preferred location, neighborhood requirements, etc. This will save a massive amount of time for you.
  2. Dig up every bit of information on the preferred location.
  3. Do a thorough inspection of the home.
  4. Understand the local market. Property prices are determined by the local market value. So when negotiating make sure you paying around that value for your property and not higher.
  5. Take care of all paperwork filled with legal aspects.

 

Unless you are familiar with the process of buying a house, hiring a realtor is a safe bet.

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