Why Have a Realtor When Buying a “For Sale By Owner” Property

1. In most cases the seller is only slightly aware of local market conditions and comparable values and has an inflated value of his home.  An experienced local Realtor will have access to the local Multiple Listing Service (MLS) and give the buyer data on comparable homes that have recently sold and are currently on the market.
2. Your Realtor will be aware of all of the state and local regulations and disclosures that are required and will make sure that the buyer has all of the necessary information for a legally correct transaction.  Local Realtors use a California Association of Realtors Residential Purchase Agreement; which requires a 17 day due diligence period, many contingencies and requirements as a part of the contractual agreement.  Only Realtors have access to that contract and the other necessary disclosures.
3. Pest and Home Inspections will be recommended by your Realtor and set up with local qualified inspectors.
4. Having a Realtor do the negotiating with the seller will insulate both parties from strong emotions, which often come up, and can negatively affect the negotiation.  Remember the negotiating doesn’t end when your offer is accepted; it usually isn’t over until the escrow has closed.
5. If you need financing your Realtor will be aware of which lenders finance the type of property you want to purchase.  This is especially important in the Tahoe – Truckee Real Estate Market due to the uniqueness of this area.  A lack of familiarity and knowledge of this market on the part of the loan underwriter can either delay an escrow or cause the underwriter to deny the loan.  Also, local lenders work with Appraisal Management companies that have a pool of local Appraisers that clearly know the value of local properties.
6. Your Realtor will direct you to a local Title Company that is familiar with the community and neighborhood in which you are purchasing and what legal requirements need to be met before your escrow can close.

Want to purchase property in this area?  If so, get prepared.  Contact me and we can create a plan to meet your budget and achieve your goals.