Sell or buy a home without the help of a real estate agent can be a bit complicated, but also could save a lot of money. Following these steps carefully can save between 2 and 4 percent of the price of your home.
Method 1 of 5: Consult a real estate attorney
The process of buying or selling a home without the advice of a qualified attorney state is a bad decision. Transactions complex legal cases that require knowledge and skills that people who are not lawyers or real estate professionals do not know.
- Consult a lawyer to explain to you what documents are needed. The documents required for the purchase or sale of a property vary by state and even also varies depending on the country where the property is located. This makes it difficult to create legal documents that adhere to specific laws governing your particular transaction if you do not have the help of an experienced attorney.
- Evaluates if you can hire an attorney. An attorney can identify defects in title, omissions in the contract and other personal problems without the necessary knowledge might overlook. Although the lawyer will charge for this service, the charge will be lower at this stage of the transaction if you made a mistake on your own and need to fix it with your help.
Method May 2: Check the property
Examine the house one last time before signing the final papers to make sure it is within the agreed contractual terms.
- Make an appointment to review the property 24 hours before finalizing the transaction. Before the revision, read the contract to ensure that all conditions of the transaction have been met.
For example, if the contract says that the seller will leave some appliances in the house, so be sure during the inspection. Also check that the seller has removed all their belongings, who has made the agreed repairs, which has not damaged the property since the last time you saw and everything in the house looks in good conditions expected.
- Consider applying to the counterparty to be present during the review. In this way, the seller may explain the characteristics of the house the buyer wants to know and answer any questions that arise during the review of the property.
- Contact the other party if there is a problem. If the end of the review, something is not as it should be, immediately contact the agent or real estate lawyer of the other party (or the other party in person if he were in charge business). Do not wait until close to refer a problem, but rather do it immediately or risk delay the closing. If a problem that is very difficult to manage on your own arises, delayed closing and seeks help from a real estate professional.
Method 3 of 5: Insurance policy
To qualify for an insurance policy, lenders require the buyer to have the title and insurance.
- Get the insurance policy owner. For the mortgage, most lenders require the buyer to get an insurance policy. An insurance policy owner protects both the buyer and the lender in case something happens to the house.
Get the policy without using a real estate agent or a lawyer is easy, just contact a few insurance companies and ask prices for insurance that meets the guidelines of the lender. Compare fees and select the option you greater coverage at a lower cost.
When you close the business will have to show proof that accounts with insurance coverage and you cancel your policy premium. Once you obtain the policy and pay, ask the insurer to send you a document proving that accounts with insurance. Insurers have a standard form; take it when you close the business.
- Get an insurance policy for the title of the property. Many lenders require the buyer to obtain a policy to grant mortgage. This is a policy that protects the buyer and the lender if there are problems with the title to the property after closing.
For one of these policies, contact the insurer to give you a quote and Determines which policy is the best protection for the least amount of investment. These policies are sold as a set of two policies: one that protects the buyer and another that protects the lender. The policies are relatively inexpensive. You’ll have to show a valid proof that you already have at the close of business.
Method 4 of 5: Finish your finances
Before closing, make sure you have all the money you need to pay all costs and down payment.
- Meet with the lender before the closing date of purchase to ensure that all the necessary paperwork is complete.
- Meet the conditions of the mortgage. If the lender you put any condition for approving the mortgage, as a sale of a previous home, you have to have satisfied these conditions before closing the purchase of your new home.
Method May 5: Pick and assists the closing
The closures can be made in many places, but usually are done in the office real estate agent, lender or lawyer. The closure is a relatively simple process if all documents are in order, all the work is done before closing.
- Pick a date for closure with the other party. In the end, sides will sign several documents, the money will be paid and the house keys will be delivered to the new owner.
- Ask your lawyer or notary to attend. If you hire an attorney, you should accompany to ensure that all documents are complete. Otherwise, hire a notary to attend and approve all forms that require it.
- It carries all the documents with you. Be sure to bring all necessary documents and copies of them, evidence that accounts with insurance, the money to pay closing costs, the first payment and any other fees that must be canceled. Overall, the money must be paid with a cashier’s check.
The real estate closings are complex processes that require a lot of preparation and skill. If at any time you feel unsure of what you’re doing or feel it is too much for you, consult a real estate agent or a lawyer to help you. Both professionals will charge for their work, but the cost is minor compared to what you’d pay if you make a mistake trying to make closing your account.