If you’re thinking about buying a house, you have to choose between finding a for-sale-by-owner listing, or going through a St Louis real estate agent. While there are many reasons to choose either option, it can be a difficult choice, especially if you don’t know the difference between the two listings. Knowing the pros and cons of each can be great help in choosing whether you want to hire a real estate agent, or look for a home on your own.
Pros & Cons of For Sale by Owner Listings
A For-Sale-By-Owner listing is a piece of property that has been listed for sale by the owner. Usually this type of listing will be slightly cheaper (but not always), but this is one of the only real benefits. However; you should watch out for the occasional St Louis home that is overpriced by a seller who either doesn’t know the value, or is hoping that you won’t know it. The negatives of a For-Sale-By-Owner listing include that the seller probably has no idea what he or she is doing, might not have filed for the proper paperwork, and won’t know about any taxes, liens or restrictions inherit with the property. For Sale by Owner listing sare best for people who know what they are doing and have purchased property before because there can be a lot of complicated paperwork involved.
Pros & Cons of Real Estate Agents
For most people a St. Louis real estate agent is the best way to go. For example, a real estate agent can help you with the proper paperwork, find out information about the home, can help you find a piece of property within your budget and in the area you want to live in, as well as several other cost effective services. Unfortunately, a real estate agent will be slightly more expensive than a for-sale-by-owner listing, because they charge a percentage on the top. However; considering the time and frustration that you can save by purchasing a house through a real estate agent, you can consider the money well spent.
Real estate agents are the easiest way to go, because you can tell them what you need, where you want it, and how much you want to spend and they will find you the property. If you go through the homeowner, you will have to locate the property on your own, and most importantly, you will have to spend time and money ensuring that nothing is wrong with the home before you purchase.
However; both options are still very good. If you have the time, the money and the know-how to purchase a house from the seller (you have to know the taxes, paperwork, legal fees, legal processes and people who can inspect the house) then you can choose to purchase a ‘for sale by owner’ listing. Otherwise, a real estate agent who knows how to do everything, knows what you should be paying for the home, and can guarantee that the home is in good condition might be your best choice.