If you’re like many people, you understand that homes are selling like hotcakes right now – and that may even mean that you have someone lined up who wants to buy your house, even if you haven’t put it on the market yet. But do you need a REALTOR® when you find your own buyer?
Absolutely. Here’s what you need to know.
Do You Need a REALTOR if You Find Your Own Buyer?
For most people, working with a REALTOR is about much more than finding buyers. In fact, the buyers are out there (and they’re finding REALTORS themselves). A good REALTOR handles all the paperwork and legal aspects of your real estate transaction, including filing all the documents necessary with government agencies, putting earnest money deposits in escrow accounts, and hammering out details on purchase agreements. Real estate agents also build contingencies into contracts that protect your financial interest in the home, coordinate closing dates and times, and ensure all the Ts are crossed and the Is are dotted in your paperwork so nothing comes back to bite you.
Filling Out Government-Required Documents
Seller disclosures and other documents are required by law, and your REALTOR will fill them out for you. Additionally, if any of your documents need to be filed with government agencies, your real estate agent will handle them for you.
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Putting Earnest Money Where it Belongs
When someone makes an offer on your home, it’s usually accompanied by an earnest money deposit to show you that they’re a serious buyer. That money doesn’t go right to your bank account, though; you have to keep it in an escrow account. Your REALTOR will coordinate all of that for you and keep you on the right side of the law.
Working on Purchase Agreement Details
Your agent will be the one who negotiates on your behalf. Whether the prospective buyer wants you to sell for a lower price, make repairs or upgrades, or do other things, your agent will help you broker a winning deal.
Building Contingencies Into Your Contract
Contingencies are conditions that you or the buyer (or both of you) must meet before you can close the sale of your home. Your REALTOR will put contingencies in your contract that are designed to help you, just like your buyer’s agent will put in contingencies designed to help the buyer.
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Coordinating Your Closing Date
There are a lot of moving pieces in a real estate transaction, but one of the last to fall into place is your closing date and time. Your agent will coordinate with everyone who needs to be there – attorneys (if you have them), a representative from the buyer’s lender, and a title insurance agent may all need to be at your closing. Your agent will ensure that everyone knows where to be (and when to be there) long before your closing day arrives so your transaction is seamless.
Are You Buying or Selling a Home in Baltimore County or Howard County?
If you’re ready to buy or sell a home in Baltimore County or Howard County, we can help. Check out these listings:
If you’re thinking about selling your home, we can help you sell it quickly – and at the best possible price. You can:
If you have specific questions, fill out the form below or call us at 443-955-1227 – we’re here to help you with any aspect of your real estate transaction.[wpforms id=”220617″]