How do I make an offer without a realtor?
Steps to Make an Offer
Start by determining a fair price based on comps and the property's condition. Then write a purchase offer that includes the price, earnest money deposit, contingencies (inspection, financing), closing date, and any special terms. You can find standard purchase agreement forms online or through legal stations, but make sure they comply with your state's laws.
Deliver the offer to the seller in person or via email. Be prepared to negotiate. If the seller accepts, you'll both sign the agreement. Then you'll need to handle inspections, appraisals, and closing tasks—often with the help of a title company or real estate attorney.
- Determine a fair price using comps
- Write a purchase agreement with all key terms
- Include contingencies and earnest money
- Deliver the offer and negotiate
- Use a title company or attorney for closing
Legal and Practical Considerations
Real estate laws vary by state. Some states require an attorney to handle closings, while others use title companies. Even if not required, hiring an attorney to review your contract can prevent costly mistakes. You'll also need to ensure the seller provides required disclosures (e.g., lead-based paint, property defects).
Without a realtor, you're responsible for due diligence: verifying ownership, checking for liens, and ensuring the title is clear. You'll also need to arrange financing if you're not paying cash. A real estate attorney or experienced investor can guide you through the process.
- State laws vary—some require an attorney
- Seller must provide required disclosures
- Verify ownership and check for liens
- Arrange financing if needed
- Consider hiring an attorney for contract review
Common mistakes
- Using a generic contract that doesn't comply with state laws.
- Skipping important contingencies like inspection or financing.
- Not verifying the seller's ownership or title issues before closing.
