I live in a very hot property market & receive letters from people wanting to buy my home although its not on the market, can I skip a realtor?
It would be great to sell it direct without the hassle of showings or paying a broker commissions. Are there lawyers I can hire just to draw up the same paperwork an agent would? Do they charge a flat rate as opposed to billing hourly?
It is possible to sell your house without a Realtor. It's POSSIBLE to draw up a contract on a napkin and a handshake, sign the deed and transfer the property to the new owner. A real estate attorney (or your state's equivalent) can help with the deed prep, recording etc. usually for a very low flat fee.
The Realtor's primary function in any transaction is to market the property. If you have a buyer already, you don't need that service, but that isn't all they do. They also provide a professional guide and buffer between you and the buyer(s) for showing the property, negotiating the terms, making sure everyone is protected etc. Selling your house without that professional advisor is a little bit like representing yourself in a court of law, or at least doing your own plumbing repairs. You're allowed to do it - but if you don't know what you're doing, you could be asking for trouble.
So it really depends on your experience and comfort level. People sell houses "By Owner" all the time. But many of those people regret making that decision later. | 02.10.16 @ 16:13
There are options for you to save some money, but with the options come higher probability of issues / problems / stress arising .....some ideas include 1) discount brokerage that charge a smaller commission 2) selling yourself and using a settlement agent / real estate attorney for closing--be aware that there are other selling expenses in addition to the sales commissions ....be aware that there are many additional smaller steps along the way to deal with ....be aware that even if you try a FSBO - a buyer might make an offer and that buyer might have a realtor that you would need to pay a commission too ( unless you negotiate the buyer to cover this ) | 02.11.16 @ 02:06