Profile picture for ddmrn12345

the listing office of the property i want stses i do not need a realtor,i already have found my home

should i give him a deposit to hold the house until i get the funding,he states,it is ok and my money will be refunded if i do not buy this house, no problems,is this true,will i be safe?
  • April 15 - US
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Answers (6)

You DO need a REALTOR!

  • April 16
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Is this a brokerage office, or for sale by owner?  I would get an agent to represent you, and draw up a legal offer to purchase with your earnest money.  Make sure there is a contingency upon financing.  If you do not get financing the offer would be null and void.  Good luck!
  • April 15
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If you are a buyer you should absolutely have your own Broker. Commissions are paid by the seller. You aren't giving us much to go on, but I would avoid giving money to anyone without first receiving professional advice. Take care, -Kjell 
  • April 15
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It sounds as if you are on the purchasing end, I would advise you to speak with a realtor. It won't cost you anything as a buyer and they will be able to give you professional advice as it is their job to make sure you are making a good investment on a home. If you decide not to you should be safe, just make sure that the offer you put in has contingencies on financing so you can recoup your earnest money if things don't work out.

Do you already have a lender? Have you shopped around your loan? It is highly advisable to make sure you are getting the best deal on interest rates, closing costs, etc.

If you have any additional question or want an additional quote on your home loan feel free to reach out using my zillow profile.

Good luck,

Andrew

  • April 15
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Hmmmm, I would advise that you have your own representation ALWAYS. Not sure what state you are in, but I think this is good advice for anyone!
  • April 15
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Profile picture for sunnyview
No, it is not safe to let someone hold your money and HOPE they will return it. The way to do it is to have a contract and put your money to be held in escrow. That way if the terms of the contract are not met or you cancel as allowed by the terms of the contract, the escrow company will return your money to you.
  • April 15
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