Profile picture for LoriStumpf Glover

I want to pay cash for a cheaper house ($75000) - do I need a realtor

  • March 23 2014 - Bristol
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Answers (4)

I can't quite tell what you're asking.  Do you already have a house picked out and a deal agreed to?  If so, no, you'll need an attorney but not a Realtor.

If you're just starting the searching process then yes, the purchase price of the home isn't relevant to your need for a Realtor.  If you think a Realtor can help with a million dollar home they can do the same in a $75k home.

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- This is not legal advice and is not intended to create an attorney-client relationship.  The post is only an opinion.  You should speak to an attorney for further information.  The poster is licensed only in CT & NY.    If this post is useful to you, please remember to upvote it.
  • March 23 2014
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Dear Lori, Can only speak for myself as a Realtor and the Las Vegas market.  The purchase contract we use in Las Vegas, is drafted to protect the buyers' best interest. If the house is, "For Sale by Owner", a Realtor could still advocate on your behalf. Of course, certain documents need presenting to all parties in the transaction and all laws followed. Good luck in your endeavors.

 



  • March 23 2014
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The price of the home really does not matter, as you can run into just as many problems with a $75K house as you can with a $750K house.  Knowing the correct value of the house, the condition of the house and knowing which contingencies will protect you are things that someone who has expertise can offer.

If you choose not to use an agent at least make sure your attorney knows you are negotiating your own deal.
  • March 23 2014
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Profile picture for Bonnie And Melinda
Lori, our answer would be - it depends. If the property is not listed and you are an experienced homebuyer and understand the process, you certainly can buy without a Realtor. There are no rules that we know of saying you have to use a Realtor. However, if the property is listed on the MLS, the Seller contractually owes the Listing Agent a commission. If you use the Listing Agent, they don't have to share it with the buyer's agent. However, then you don't have full representation. So even though you are buying a lower priced property, wouldn't you want someone looking out for your best interests?
  • March 23 2014
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