Risks Of Buying A New Home Without A Real Estate Agent

Posted by Maxwell Progressive on Thursday, July 13th, 2017 at 12:51am.

While buying a new home on your own may seem exciting and cost-effective, taking the project in your hands have several drawbacks. Find out various risks that are associated with buying a new home without a right real estate agent.

You May Take More Time

Searching and buying a home is not a day’s or week’s task, especially when you plan to do it on your own. From finding the right house to negotiating and doing all the documentation, to finally moving in, you have to do everything by yourself even when you have comparatively less knowledge than a skilled Edmonton real estate agent. You’ll have to invest more time in the entire process and thus, the process becomes more time-consuming.

You Have To Deal With The Paperwork

There are several documents and papers involved in buying a new home. When you take the project in your own hands, you have to take care of the documentation and paperwork as well. There are chances that you might make mistakes or miss out on certain legal and important documents due to lack of knowledge.

You May End Up Paying More

Without a real estate agent, you might end up paying more and close a deal at a higher price. Homeowners often make the mistake of overpricing their homes. And as a result, inexperienced buyers may accept the deal at the same price. Homeowners might make you pay for everything, and you wouldn't know what is necessary. Also, there are various ‘hidden costs’ during the process that you may pay if you are not aware of.

Home Inspection Can Be Difficult

Inspecting homes and identifying various problems and flaws can be difficult for an inexperienced person considering to buy a home for the first time. Some problems in homes can be small and not worth worrying about, but some major problems need to be identified and fixed to avoid serious consequences in the future. Without a real estate agent, you will not know what to inspect, which is advisable before closing the deal and buying a new home.

Negotiating Can Be Tricky

Unless you are experienced in the real estate sector, you won’t have the ability to determine the true value of the homes you are looking at. Depending on the problems in the homes, you can negotiate with the homeowners. But if you lack knowledge, you might fail in negotiating effectively and end up closing a wrong deal.

Buy Home In An Inappropriate Neighborhood

Choosing the right neighborhood is important as it affects your living and lifestyle. One of the biggest advantages of a real estate agent is that they are the experts of neighborhoods. Buying a home on your own can result in wrong neighborhood selection as you might not know all the neighborhoods and areas in-and-out.

You surely don’t want to make these disastrous mistakes while making one of the biggest investment of your life. Hire our Edmonton real estate agents for your home-buying task and find the right house without any risks.

Contact a Maxwell Realty Agent today and start your Edmonton Real Estate search! 780-478-5478 

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