The Dangers Of Buying A House Without A Realtor

[@lanialost1320]

Oh, all those poor buyers and sellers in Europe and UK don't know what they're missing! Typically a 1% TOTAL commission once a home gets sold, and NO buyer agents exist. Let's have more USA-style middlemen introduced into the home selling process in the UK to milk money since there's so much cash flying around. Gotta get a slice of the pie!

[@nouche-30064]

Exactly ❗🤣 By the way, UK is in Europe ❗💡😁

[@KG-ho7bj]

When I bought, I had an agent. I still ended up doing my own research to find the lawyer, title company and inspector etc. because what I saved like 3-4k diy

[@denisebatt8155]

Paperwork is provided by the Title company. I’ve used realtors for market analysis and developed my own spreadsheet to figure a fair price to sale my home. I have successfully done several DIY sales as a layman. It’s definitely not for everyone but if you have some knowledge or want to seek knowledge, you can save a ton of money. I just saved 38k by not using a realtor.

[@nneisler]

A good selling agent is worth it. They can get you the right price and can find and negotiate with a buyers agent. Depends on the house you are selling - a newer house in the right location may sell itself

[@serenaborden3171]

Speaking for self. It’s not the new guidelines of the real estate agent. Some buyers feel more comfortable without an agent because of the experiences with agents. My agent wasn’t very knowledgeable nor engaged so I had to remove them from the sell.

[@WalterDorcas]

May I ask which investments are good? I've been looking at a few different ones but want others' opinions as well.

[@WalterDorcas]

Have been in need of an Adviser for long now..

[@WalterDorcas]

I looked up her name online and found her page. I emailed and made an appointment to talk with her. Thanks for the tip!

[@HaiNguyen-zh8cv]

Whether you need a financial advisor or not, you must educate yourself first. It takes time but I think investing in real estate is worth studying. I am considering buying a property as an investment since I know nothing about stocks.

[@doitjack8400]

Imagine having to pay 3% to an agent on a 400k house that you plan to put down 10% down with these new regulations. Your cost of purchase increases from 40k + closing to 52k + closing. If you were ambitious enough you can become a realtor in 3 months with about $600 worth of online classes to increase your knowledge base. With home prices and mortgage rates through the roof, many people will opt to learn through KZbin university lol

[@inhoseo]

I have so many degrees from YTU.

[@ThatGuy1of1]

The responses here falsely assume that ALL agents are as good as they're presenting, and/or that these good agents are very common. They certainly are not, so the common experience/view holds weight in the eyes of the average buyer.

[@HaiNguyen-zh8cv]

Agreed 100%.

[@robertyoung1777]

The most important thing for a buyer is to work with a trusted lawyer BEFORE signing any papers with a realtor. In my experience, the process of buying property is needlessly complicated. That said; buyers need legal representation from a lawyer. Realtors do not work for buyers or sellers. Realtors work for agencies or are possibly self employed. A lawyer, that you as the buyer hire, is working for you.

[@TheRealEstateLawyer]

Preach

[@Starfish2145]

That’s ridiculous. In Arizona we don’t use Attorneys at all. Been this way for a very long time. Our purchase contract is extremely clear and protective for both the seller and the buyer.

[@estonosestapasando7764]

Buyers don't need a lawyer, that's a give away fee. A lawyer will do nothing for a buyer

[@yunissegura3319]

Ok. Do you know how much the lawyer will charge per hour just to view documents? And of course, they will have a minimum of certain hours to negotiate anything for the buyer and probably without RE expertise...

[@yunissegura3319]

The compensation paid by the seller is deductible from the income tax.

[@Bernard_Ralph_The_Realtor]

Many DIY buyers and sellers don’t know their rights and obligations. In the Maryland Real Estate Contract of Sale FHA Financing Addendum for example if the house under appraises, the buyer is NOT obligated to purchase at the contract price. The buyer has a finite amount of days to inform the seller and the seller has a finite number of days to respond. The seller is not obligated to sell at the appraised value. But on FHA loans, a HUD case has been opened and that appraised value will likely be the appraised value for any future FHA buyers if the seller decides not to sell to the original buyer. I say likely bc the new lender would have to get the initial appraisal transferred to them which sometimes is a hassle. And sometimes the new lender may not see the older HUD case for some reason. I don’t know if this changed recently with all that’s been going on but this is just a small example of what most DIY buyers/sellers don’t know. Thanks for the video!

[@TheRealEstateLawyer]

Yes, each state is wildly different as well. Most buyers have no idea that the process can vary so much from state to state.

[@ashoksahu2642]

What is the average hours spent by the buyer’s agent by looking at the 10 last transactions? Is there a standard list of items the agent actually do to help the buyer ?

[@andiharper4498]

The only scare is... that consumers can save a bucket load of money and poor integrity by not using a Real Estate agent.

[@MrSethmo13]

Why do I need a survey as a buyer? There’s going to be a title company that will be providing title insurance and they will either conduct a survey themselves or they will rely on what’s recorded at the register of deeds. They’re going to provide me with title insurance. I have purchased over a dozen rental properties in Michigan and I have never once needed to pay for or conduct a survey. Is this some requirement that is unique to the state where you practice law?

[@caseydbriscoe]

I agree! I’m an agent and investor in Texas. Title orders survey.

[@MrSethmo13]

@@caseydbriscoe The only “vendor“ I have ever had to purchase services from as the buyer of a property has been a home inspector. Listening to these two KZbinrs speak, it seems as though they are deliberately trying to create the appearance that a buyer‘s agent performs essential tasks. In my experience, the buyers agent never does anything more than merely transmit offers and counter-offers back and forth to the seller‘s agent and maybe coordinates dates times and locations for the title company to run the closing. I think the buyer‘s agent is the least essential part of the homebuying equation. I don’t understand why these KZbinrs are pushing so hard to convince their viewers that the buyer‘s agent plays an essential role. This is, of course, coming from the perspective of a real estate investor who finds his own properties and does not need the buyer‘s agent to act as an escort. If I were a first time homebuyer, I would probably feel differently.

[@Starfish2145]

I’m in Arizona. Title companies do not order surveys! The buyer pays for a survey if they want one. It is not automatically done.

[@MrSethmo13]

@@Starfish2145 As a buyer of 17 rental properties (plus two personal residences), I have never been asked by my buyer’s agent to pay for a survey nor have I ever even been offered an opportunity to have one conducted. I am agreeing with you that one is not necessary. So why would the KZbinr making this video bring up the subject of getting surveys as a reason for procuring a buyer‘s agent?

[@yogareset]

I think it depends on your state

[@YakMotley]

Great video! You nailed it.

[@sophiafunchess8078]

Great interview, however, he keeps cutting her off. He seldom allow her to finish her thought. I would have loved to hear her complete thought.

[@pugstar64]

Please assist ironland! Also, nice video!

[@michaelpaul5801]

incredible info & discussion! much needed to hear these different sides of the biggest transaction one can make

[@jacque4697]

From what I’ve seen the points made here are mostly trying to justify paying someone 10000s to make an appointment, fill out a form, schedule an inspector, and escrow company. Basically very little value for a lot of money. All of this could be done by anyone in couple hours effort max.

[@dougg4633]

Attorneys for the most part Dont negotiate

[@TheRealEstateLawyer]

Correct, we do zero negotiating in our firm. We focus on making sure we can convey clear title.

[@RootBeerGMT]

@@TheRealEstateLawyerGood for you. All these cheapskates complain about agents, but they don’t want to do it themselves.

[@junebarnett7350]

Good luck. Also the safety aspects are enormous, someone knocks the door and says can I come in and look? Who knows who is coming in. Maybe you should research how many realtors have been murdered and attacked. It's scary.

[@ryanm9371]

What a stupid comment..

[@BD-rs8qx]

For Russians, Chinese or Jewish people, they will DIY if they can save 3% or 6% commission.

[@HaiNguyen-zh8cv]

Only these three ethnicities? LOL. How about Indians?

[@MyGarden-os6dd]

Ukrainians 🙂

[@nneisler]

Still gotta pay a buyers agent

[@RootBeerGMT]

People bash realtors, but if you don’t want to use one, just go to a lawyer.

[@larryjones9773]

Never hire a buyer's agent. They add negative value.

[@gromit1252]

sadly its just not affordable as a first time buyer to get a realtor agent . DIY is the only affordable option for me at the moment.

[@bobneedham6224]

Good Real Estate agent/Real Estate lawyer perspective. Ditch the hat.

[@TheRealEstateLawyer]

Well he’s not a real estate agent or real estate lawyer…he’s my husband that’s just very knowledgeable so I’ll let him keep wearing a hat if he wants

[@KATHIEMATA_KWREALTOR]

Great example

[@aryades]

Please assist Ironland!

[@pvillhard]

Please assist ironland!

[@Burps___]

Buyer's real estate agents...the *only* salesperson of any type (car, insurance, etc) that is working *solely* for the Buyer. HAHAHAHA. 🤣

[@crowant3717]

Please assist iron land

[@BAD_BAY465]

iron land

[@jenniferspartz4885]

Why did he keep interrupting her?

[@TheRealEstateLawyer]

You and I have a very different idea of what interruption is

[@Triggerhappy283]

please assist ironland

[@goldbondisgod]

It’s upsetting to hear people think all I do as a buyer agent is just let them in the door. I know my clients wouldn’t agree with that. I really feel an obligation to have my clients get the house they want with as least stress as possible. That stress doesn’t go away I just take it lol

[@haileyfierce9540]

I’m consider being a lawyer but will ai take over lawyer jobs also what is lawyers work life balance I heard they work a lot of hours and I want to have a life.

[@mprrx]

Since is not the same transacción what is the fee and the extra work? How much an hour vrs commission. You sound like that girl scout mother that volunteer For the girl scout group. Don't forget to have the paper of no liability. As a closing attorney who You represent?

[@TheRealEstateLawyer]

No comprende

[@mommom3172]

Easy. A closing attorney doesn't represent either side of the transaction

[@SHSLDetective2.0]

Please assist Ironland!

[@BigMan-ce5yk]

Please assist ironland!