Frequently Asked Questions

Can I buy or sell a house without a real estate agent?
Yes, most definitely! The Internet has changed thousands of industries around the world, and real estate is no different. This is great news for home sellers, as they have more options than ever before.  

Will I need someone to ensure the process is done legally and properly?
Whether privately or through a real estate agent, a lawyer is a very important part of the process. It is the lawyer who draws up the purchase and sale agreement, holds the deposit, and makes sure the transaction runs smoothly.— however, the seller saves hefty realty commission by listing and selling his house on NanaimoForSaleByOwner.com.

What are the advantages of selling a house without a real estate agent?
First off and most important, the seller saves significant realty commission.  Second, the seller maintains control of the process and also knows the house better than any real estate agent — so the seller can oftentimes show the house to potential buyers better than an agent.

 

Are there disadvantages to selling a house without a real estate agent?
Not really. One disadvantage used to be advertising the private house sale with costly newspaper advertisements — this is no longer the case with NanaimoForSaleByOwner.com, which will attract many people to the website every day, providing huge exposure and many fast sales!

What are the advantages of buying a house without a real estate agent?
Usually the seller is more willing to negotiate as he knows a big chunk of the asking price will not go to realty commission. Also, the deal may be sealed quicker with no agent or go-between. Buyers can get better, more detailed answers about the house and its history from the actual owner than a real estate agent.

Are there disadvantages to buying a house without a real estate agent?
Not everyone are born negotiators, but those comfortable with the give-and-take of deal making naturally have a leg up on those averse to confrontation.— often negotiating face-to-face with the owner is better and quicker than through an agent.

 

For sellers, what are the steps to selling a house without a real estate agent?

  1. Prepare your house for sale, deep clean, declutter, make it look homey and inviting.

  2. Research the market and set your price.

  3. Gather Information: home data, photos, and description.

  4. Contact NanaimoForSaleByOwner.com to list your house on our website.

  5. Show your home to potential buyers.

  6. Negotiate an agreeable selling price and possession date with the buyer.

  7. Allow your house to be inspected. This is often a condition on a successful sale agreement.

  8. Hire an experienced real estate attorney to walk you through the paperwork and offer advice.  A lawyer is required for the legal closing of the transaction.

  9. Start packing!

 

For buyers, what are the steps to buying a house without a real estate agent?

  1. Go to NanaimoForSaleByOwner.com to find a house that matches your budget and needs.

  2. Get pre-approved- sellers like to know that you are able to buy their home.

  3. Contact the owner and arrange to see the house.

  4. If you like the house and would like to place an offer, contact a lawyer to prepare an agreement of purchase and sale, they can walk you through the paperwork and offer advice.

  5. Bring the offer to the seller.  Negotiate an agreeable selling price and possession date with the seller. This can also be done verbally prior to drawing up an offer.  

  6. Arrange to have the house inspected — it is a good idea to have a satisfactory house inspection stipulated as a condition on the agreement of purchase and sale, especially for an older home. An inspection costs about $600.

  7. Let the lawyer take care of the rest.

  8. Get ready for moving day!

All information contained herein is deemed accurate but is not guaranteed and may be subject to errors and omissions. NanaimoForSaleByOwner.com will not be liable or responsible for any damages or injuries caused by use of this information.