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What is the process of buying a house with out real estate agents?

I am looking for information regarding the purchase of a home that doesn't involve real estate agents. Any and All information from state to finish would be helpful! Neither buyer or seller party want to deal with real estate agents. I want to know what is the process we must go through in order to finalize a purchase of a property/house.

Public Comments

  1. Need more info please
  2. when not using a FREE TO THE BUYER, buyer's agent.......... while stupid to not use one [it is free to the buyer] NO ONE ever has to have a RE agent to help buy a house. PERIOD. Just like no one must use an attorney in court but the person will be held to the same standards. the process of buying is: get $ qualified by one's bank or mortgage broker/banker holding a pre-qual letter in one's hand, visit both FSBOs and listed homes [that have seller's agents.] IF you positively do not wish to have a seller's agent involved at all either, you are limited to FSBOs, "for sale by owner" properties,. about 1/100th of those properties for sale across the US. when you find one you like and you have verbally come to a price both of you can live with, you put that price in writing and it must be signed by both parties. YOU Can buy without writing anything down but if there is ever a problem, you cannot sue. [statute of frauds.] if you have had an appraiser give you a number you like and you have hired an INSPECTOR to walk the inside of the house to make sure there are "no surprises" in condition, you hire a termite inspection [if paying cash from your own resources, a termite inspection is not required.] if you are wishing to use a written contract--200% advised, and live in a TITLE STATE, open escrow at one. when the house lender has submitted the money to title, and the title officer has made sure the title has no CLOUDS on it, and has written you a title insurance policy, you prepare to CLOSE escrow. YOU sign the note and the deed, the seller signs the deed and when the deed is filed with the county recorder, the house changes hands. That is how you buy a house without a licensed agent. Luck [according to extensive research, about 1 in 100 FSBO sales that use no agents at all, close effectively and without incident and there is no delayed lawsuit against someone.] so, you have one chance in 100 to buying what you like at a price you like in the condition that you think it is in and get to close escrow in a timely manner and gain title to the house. 1 in 100. YOU stand 99 chances in 100 of having problems erupt that you would never have thought of. peace and happy home buying!
  3. If the property has not been listed, then the only step left is to go to a title policy insurance company where they will research into any outstanding liens on that property. From there they will get both parties a contract to discuss financing terms and all the goodies.
  4. have a real estate lawyer draw up a purchase agreement. It should have a contingency for financing and a home inspection contingency. Once you agree to the contract, then talk with a settlement company or settlement escrow lawyer to handle settlement. This may seem very simple, but I promise you it isn't. A realtor gets paid because they do a lot to make the sale happens.
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