Home For Sale By Owner vs Real Estate

 In small towns like Valdosta in South Georgia or Havanna in North Florida, everyone pretty much knows everyone. With the right connections, buying a home from a fellow neighbor, friend, or acquaintance does not sound like a bad idea. You would directly communicate with the owner and find everything you need to know, making an easy deal. Right? You are not completely wrong in your thinking. Buying a home sold by the owner has pros and cons, but have you considered the difference between buying from an owner and having a realtor involved? There is a difference, and these differences could cost you the satisfaction you find in your soon-to-be new home.   

Buying Home for Sale by Owner

• Limited knowledge about the selling process.
• Negotiating for a lower price may be tough.
• When it comes to the legal paperwork, both parties may be at a loss.
• Their attachment to the home may determine the price.

Buying a Home with a Realtor

• Agents are experts when it comes to buying and selling homes.
• They will handle the legal paperwork for you.
• They are transparent about the information that you need or want to know.
•  The price is based on home value.

What Does This Mean?

Owners that have decided to give up their home for sale may price their home at a value that reflects their attachment to the property rather than its true value. Therefore, negotiating for a lower price may seem to be a bit tough. To avoid overpaying for a home with little value, you might want a realtor involved. A realtor will determine a home’s price based on its value. If there happen to be damages or imperfections, the realtor will negotiate a lower price, saving you money. 

Homes for sale by owners can be tricky. Owners may not tell you all you need to know. Some do this to make sure that they get the most profit from the sale; others may not know the information to give. On the other hand, realtors know the ins and outs of a home. They can tell you all that you need to know, informing you on things that you might not have thought to ask for. This transparency shows that realtors are there to help you benefit and not the other way around. From the square footage to the price, you will be sure to know all about your future home.

Hopefully, you have found that buying from the owner comes with its own set of pros and cons; so, does buying with a realtor. Being mindful of your options gives you the upper hand to ensure you get the home you want at a reasonable price. The American Dream is a real estate company that aims to keep the buying process simple. From finding homes for sale to making the close, our agents are here to help. Contact an agent today to help you get the home you deserve!