Buying through a private sale

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Buying a house through a private sale

If you want to buy a home or property, does it matter if there is a Real Estate agent involved?  What if you have to deal directly with the home owner to get the property you want?

Some people are happier dealing directly with the property owner than going through a Real Estate agent. As there will be no agent commissions to pay you may be able to negotiate a lower purchase price.

However, Real Estate agents play a role ensuring the process runs smoothly.  An agent will be able to say why the property is for sale, whether there are other buyers etc

You will still need to get a lawyer involved, particularly to check the Sale and Purchase agreement.

If you do purchase a property via private sale, never pay the deposit directly to the Vendor.

If the agreement is cancelled it may be hard to get your money back.  A deposit should only be paid into a trust account so if there is no agent involved it can be paid directly to the Vendors lawyers trust account.

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