How to Buy a House without a Realtor

Step-by-Step Guide

1. 1

   Step 1: Obtain a mortgage pre-approval.

   Unless you are paying full cash to buy a house, you will need to secure financing before you go house shopping.
   
   A mortgage pre-approval will specify exactly how much of a loan you qualify for (and, therefore, how much of a house you can afford to buy), and is a very useful tool when it comes time to negotiate with a seller.
2. 2

   Step 2: Find houses for sale.

   When you work with a realtor, it is that realtor's job to find properties that you may be interested in.
   
   Therefore, when you forego using a realtor to buy a home, it is your responsibility to find houses for sale.
   
   Try the following sources:
   Real estate magazines are full of homes for sale; however, it is important that you only consider for sale by owner (FSBO) listings if you want to purchase a house without a realtor's inclusion.
   
   Online classifieds sites like Craigslist offer a variety of FSBO homes for sale, making it possible to go house shopping from the comfort of your own home.
   
   Local newspapers may list houses for sale in both the classifieds and real estate sections.
   
   Drive through neighborhoods where you would like to buy a home, and look for FSBO signs, which will have the sellers' numbers listed directly on them.
   
   Real estate websites like Homes.com and Trulia.com maintain a database of homes for sale, where you can perform searches based on parameters that you set regarding location, price range and layout. , Ask whatever questions you want to regarding the house for sale, then schedule a viewing. , Once you decide that you are interested in making an offer on a property, you need to decide how much to offer for the home.
   
   There are ways of evaluating a home's value without the help of a realtor:
   Hire an appraiser to evaluate the property.
   
   For a fee, an appraiser will perform a thorough assessment of the home, as well as provide you with the documentation that your mortgage lender will require before you can purchase a house.
   
   Internet home value tools allow to you input the home's specifics in order to get an estimate of what the home is worth.
   
   An online search will return a number of free home value calculators you can use in your decision of whether or not to buy a home.
   
   A comparative market analysis (CMA) takes the structure of the home, the property the home is on and neighborhood comparables into account in order to provide an accurate figure of what a home is worth in the current market.
   
   Obtain free, do-it-yourself CMAs on websites like RedFin.com. , Once you have chosen the house you want to make an offer on, and ultimately purchase, it is time to find a professional who can draft the necessary legal documents. , Have your real estate attorney draw up an offer to buy a house, then present your offer to the sellers.
   
   Negotiate the offer as necessary, until you and the seller reach acceptable terms. , Your real estate attorney will draw up the sales contract for you, which both you and the seller will sign. , The lender will then process your mortgage and schedule your closing.
3. 3

   Step 3: Contact the homeowners of the homes you are interested in.

4. 4

   Step 4: Determine if the house is worth what the sellers are asking.

5. 5

   Step 5: Choose a real estate attorney.

6. 6

   Step 6: Make an offer.

7. 7

   Step 7: Draw up a sales contract.

8. 8

   Step 8: Submit the sales contract to the mortgage lender.

Detailed Guide

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