Need a realtor for a craigslist find?

Question

Hi all!

My husband and I are newbies, but we're going to view a duplex this week that we found on craigslist.  I've been in extensive contact with the seller and the property manager, but now we're beginning to get overwhelmed thinking about ALL THE DETAILS before we put in an offer or close.

First, we don't have a realtor since we've found this property ourselves.  BUT do you think a realtor is needed just to make sure we file all the right paperwork?  Can we just submit an offer with a contract we write up ourselves?

Once the offer is accepted, is there anything else that a realtor would provide that would save us headache?  Like finding a title company, figuring out transferring the leases, or working with the mortgage company, etc?

Thanks!

Mia

Nnabuenyi Anigbogu · Answer

You can get a realtor if you really want. However a good attorney can help you just as much and costs less than a realtor.  A good attorney will have title company recommendations, know how to transfer the leases, etc? A good loan officer can help you with dealing with the mortgage company. You can get recommendations for both of those in your area right here on BP.

If you had not found a house already i would say you should get an agent. However at this point an agent is just going to cost you money. Chances are that if the seller is FSBO you can negotiate with them using the caveat that you have no agent so they should decrease the price accordingly (if they priced in a buyers agent commission). If they refuse you could always go ahead and retain the services of an agent at that point.

Mia P. · Answer

@Nnabuenyi, that's what I was thinking.  I don't think the seller is wanting to pay for/allot for a commission.  So it'd be nice for us to pay less to just get a lawyer (that we'd need to hire for transferring leases anyway).  Am I correct in thinking that title companies have their own lawyers that we could hire to do double-duty for us?

Russell Brazil · Answer

If you are feeling overwhelmed before you have even gotten very far, you may want to consider getting an agent. That will take a lot of stress out of the situation. You can probably get a referral for an agent right here on BP.