Posted by: May 03, 2024

Buying a home may be one of the most significant purchases you ever make. As the costs of buying a home increase, you may look for ways to save money. One way to save could be not using a realtor. If a family home is involved, you might wonder how to buy a house from a family member without a realtor.

In some situations, buying a home without a realtor may make more sense, but for the most part, buying a house on your own is risky. Working with a real estate agent or attorney can help save you time and money in the long run.

Steps for Buying a Home Without a Realtor

If you’ve decided to buy a home without a realtor, here are a few steps to manage the process.

Get Pre-Approved for a Mortgage

By obtaining a pre-approval for a home loan, you learn what homes you can afford and avoid shopping for properties outside your budget.

A pre-approval can show sellers you are serious and have the financing necessary to make a real offer that will not fall through. 

Market Research

Real estate agents have access to many home property listings. They know the neighborhoods, the features of the homes, and sometimes have connections to the sellers. 

Without a real estate agent, you are responsible for the heavy lifting of market and neighborhood research. You must do your due diligence to learn about the neighborhoods and sift through listings. 

Explore Properties

Once you’ve found a neighborhood and a few homes you like, start visiting them. Contact the agent or owner about upcoming open houses. 

When you explore the homes, note the conditions and ask questions. Some questions you might want to ask include whether appliances are part of the sale, how old the roof or furnace is, why they are selling the home, what they like or dislike about the neighborhood, and the quality of the schools.

Ask for Seller Disclosures

Ask the seller about any known issues with the home. Some states mandate that a seller provide a seller disclosure statement. The disclosure statement may include information about: 

  • Presence of mold, lead paint, radon, asbestos, or other hazardous substances,
  • Structural issues,
  • Plumbing, heating, electrical problems,
  • Water damage, and
  • Prior damage from termites or other insects. 

Sellers must answer these questions truthfully and provide accurate information.

How to Buy a House from a Family Member Without a Realtor

If the home you want to buy belongs to a family member, the process might be more straightforward. You already know the property and can hopefully trust the family member’s word about disclosures. You may also be able to forgo financing if your relative provides owner financing. 

If you’re wondering how to buy a house without a realtor for cash, the best bet might be to purchase a home from your family. If you pay in cash, you won’t need a mortgage.

But beware that buying from a family member without using a realtor can also lead to family drama, and they may take advantage of you. The risk of mortgage fraud is higher when parties know each other. 

Hire The Curley Law Firm to Make Home Buying Easier

If you are wondering how to buy a house without a realtor, work with an experienced real estate attorney. Buying a home without a real estate agent is difficult, even if you are buying from a family member. Purchasing a home involves complicated contracts, paperwork, and rules.

Working with an experienced real estate attorney like Adam Curley of The Curley Law Firm can make the process easier. Adam has over 16 years of experience working with real estate transactions. He will help streamline the process and work to save you time and money. Adam can offer the advice and guidance you need to ensure you don’t make the wrong moves or get taken advantage of in your purchase. Contact The Curley Law Firm today to learn how Adam can help you buy your dream or family home.