If you have been interested in a home that's for sale by owner but you aren't sure if the house is a good deal or what type of condition the property is in, you'll want to get a real estate agent to help you with viewing the property and getting the purchase in motion. There are a lot of factors that can come into play when you are buying a house that is being sold by the owner and you don't want to get scammed or buy a property that isn't worth the cost. Here are a few things the realtor will help you with.
Compare Sale Prices of Similar Properties
Your agent will compare the sale prices, not the list prices, of comparable properties in the area. If the house for sale by owner is listed high, and other houses of similar and at the same value sold for far less, you don't want to pay the list price. Instead, your real estate agent will show the seller that their house is overpriced, and they may be able to work a deal to get the seller to bring down their price.
Get an Inspection
If you are serious about the property, you'll want to get an inspection so you can see if there are any structural problems. The cost of an inspection will be worth knowing if there are major flaws that you'll have to pay to replace when you take over the property. The real estate agent can set this up for you to have it completed before you purchase the home or before you decide to make a reasonably priced offer.
Find You Other Properties
If this property owner isn't willing to negotiate a realistic price or you can't come to an agreement on terms after the inspection, the agent can find you another property within your budget in the area that you're looking to buy a home.
You don't want to go into a home that is for sale by owner and think you're getting a deal because the seller isn't using a real estate agent. Instead, you want to get your own real estate agent so they can do some research on the property that you're interested in, see what the true value of the property is, and help you get the property at an appropriate cost. If not, they can find you what you need.