Whether you’re a seasoned residential investor, a business owner looking for a corporate space, or a family who has simply grown out of their home, Lottmann Realty Group can help. No matter your level of experience, our goal is to help you better understand your options and make the right purchase—bottom line.
If you’re ready to make your move, or if you have any questions about the real estate buying process, we’d love to hear from you.
Still exploring your options? No problem. To help you understand some of the most common uncertainties throughout the buying process, take a look at the FAQs our team receives from buyers, and our answers:
Q: Can I buy a house on my own?
A: Technically, yes. There is no law that prevents you from buying property without professional real estate assistance. You can search for homes, call the sellers and arrange showings, and even negotiate pricing and move-in requirements on your own (although some municipalities require you to pay an attorney to draw up the actual sales contract). The real question may be “do you really want to do it on your own?” Most often, that answer is “no.”
Q: If I use a realtor to buy a piece of property, won’t I have to pay a commission?
A: No. The commission for the sale of a home is paid for by the seller, not the buyer.
Q: If I decide to buy on my own, how will that affect my list of options?
A: They will shrink. The only properties you can buy without a realtor’s involvement are those that are “For Sale By Owner” (FSBO). These properties comprise only 20% of the market or less.
Q: Is there something wrong with properties listed FSBO?
A: For Sale By Owner simply means the seller has decided not to use a real estate agent in the sale of their property. Some sellers think they can make more money by not paying a commission or by finding an uneducated buyer that will pay more than market price. Others are hoping to avoid disclosing problems that agents are required to disclose to potential buyers. Still, others probably had a difficult time finding an agent to represent their property at the price they demanded. Buyers should do their research and secure an independent appraisal of the FSBO property they are considering for purchase.
Q: Why do I need an agent if I can call about advertised properties directly or place a few calls to listing agents?
A: It’s risky. In addition to limiting your property options, you risk not having an advocate—and all the benefits this brings—throughout the transaction. Listing agents, by law, must represent the seller’s best interests.
Have other questions? We are waiting to answer them!