It can be tempting to call the listing agent directly to schedule a showing when you’re looking for a new home, or to attempt to buy a new home privately, but there are some major risks involved that you might be unaware of.
If we haven’t met, my name is Katie Crawford, a Realtor that specializes in the Spruce Grove, Stony Plain and Parkland County areas and in this video I’m going to outline some of the dangers of going it alone without a Buyers Agent so you can be aware of what to watch out for.
If you’re watching the video, stick around until the end to hear the most important reason to work with a Real Estate Agent.
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Representation is not only free to you but could also save you thousands of
dollars in the home buying process. Without an agent you could even find
yourself completely exposed financially. Why? An experienced Buyers Agent is
going to ask the questions that you didn’t even know needed asking like:
property have Kitec or Poly B plumbing? Is the wiring outdated? Are there any
permitting issues or lack of building permits you should be aware of? Are any
of the structures on the property encroaching on neighbouring properties? Are
there any disclosures that you as a buyer need to know about like foundation or
structural issues, if the property has unseen mould or mildew, the list goes
A buyers agent
can also ensure that you are getting the best price on your dream home by giving
you access to information on recent sold properties in the neighbourhood and then
writing an offer that reflects that.
They will also
provide expert negotiation, especially in this market where many properties are
going into bidding wars. Did you know that if you go directly to the listing
agent and the seller agrees to have them represent both parties, you could end
up over-paying for your home? A listing agent can’t give you any direct
strategic advice in terms of pricing because they must act as an unbiased
transaction facilitator when representing both sides.
If you are
looking to purchase a home privately from an unrepresented seller, you risk being
taken advantage of or finding yourself in legal trouble if the seller doesn’t
know what they’re doing. Your agent will know how to write conditions into your
offer so that you can back out if you decide you don’t want to go ahead with
the purchase, and they’ll make sure you get your deposit money back as well.
Your Agent is
going to be your point person, to keep all the balls in the air and ensure that
important deadlines are met. They will help you with the leg work it takes to
get the right paperwork completed properly and delivered to the Lawyers and
your Mortgage professional.
Buying a house
and moving is one of the most emotional and stressful things you can go
through, so having a Realtor that is protecting your interests, communicating
with you, setting expectations and helping you shop makes the whole experience
buying house, chances are you’re also selling your current home. Now that you
know the risks of buying without a Realtor, you might be interested in the
risks of selling without one. Check out my next video, “Selling Without a
Realtor, What can go wrong?” to learn more.
There are too
many risks that can come with buying a new home that I couldn’t cover in a
short video like this, so if you’re curious I’d love to chat. Send me a message
or leave a comment below.