Top 10 Steps To Buying A House Without A Realtor
1. Purchase With a Land Contract- One of the top steps to buying a house without using a realtor is to use a land contract. This is a private contract between the buyer and seller, and it outlines all of the relevant information and terms of the sale.
2. Assume An Existing Mortgage- If you are interested in buying a house with no money down, and do not want to use a Realtor, then it may be possible to assume an existing mortgage. Some owners are motivated to sell, and may be willing to agree to this arrangement to sell the home.
3. Make an Offer Directly to the Owner- If you find a home that you want to buy you can make a direct offer to the owner, and often this will result in the sale.
4. For Sale by Owner Properties- One of the top steps to buying a house without paying for a Realtor is to find For Sale By Owner property. This indicates that the owner is also interested in the sale without additional costs being incurred.
5. Take A 401k Loan for the Entire Purchase Amount- Using 401k to buy a house is possible in some situations, and if your 401k balance will allow this then it may be a smart move for some.
6. Use the Internet To Find Real Estate Deals- Whether you are buying a house on contract, looking for FSBO homes, or want foreclosures and government seizures the Internet can help you locate what you are searching for.
7. Hire a Real Estate Attorney Instead- A real estate attorney should be one of the steps to buying a house and to ensure that everything is legal and the contract is fair and valid.
8. Find Foreclosed Homes Cheap- Often buying a house after foreclosure means that no Realtor is needed, and you can make the purchase directly from the bank or owner.
9. Purchase a Tax Seized Property- Tax seizures can be one of the top steps to buying a house without using a Realtor. Many government entities have seized homes which are offered to the public and very low prices.
10. Visit Land and Property Auctions- Auctions can be a great way to find homes cheap, without the use of a Realtor. Many individuals who participate in real estate investing use this method.