One question about buying a house (Boulder, Longmont: sales, inspection, price)

[sandia]

Hi,

I am thinking to buy a house in Boulder/Longmont area without a Realtor, could you comment what I should be aware?

I purchases my first house in New Mexico several years ago, I was not impressed of my Realtor at all. Since the housing market is slow now and I can check out available houses on the web, I want to save the brokerage fee this time.

I am new to Colorado and Boulder, so any advice is appreciated very much.

[westiedogs]

Personally, as you are new to the area, I think it is risky to buy without a realtor. If you don't connect with one, move on to another. Not everyone clicks - but you don't pay for their services as a buyer and you could end up paying in other ways(and probably not in the ways that you want).

[Candycandy]

I've been using ColoradosHomes.com for the past few years to search for homes. When I'm ready to see something in person, I can either try going it alone (if I already know the area well), or ask them to connect me to a good realtor with expertise in the area (if I don't). I've had good experiences both ways. Good luck!

[dmf2008]

I am a realtor and have come across many realtors that come up short in the benefits department. However as was mentioned being new to the area it is truly a benefit to have someone familiar to the area.

Did you know that you will end up working with a realtor in the end, since most properties are listed with agents? By not being represented yourself ...you are losing out. When using a buyers agent your interests are being represented and protected. Such as negotiating the best price, inclusions, contingencies, and terms. Including specific key deadlines, through the inspection process, etc, all to protect your investment. The fee is paid by the seller whether you optain representation or not but will go to the agent representing the seller, not you as the buyer.

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[mobs2003]

Originally Posted by dmf2008

The fee is paid by the seller whether you optain representation or not but will go to the agent representing the seller, not you as the buyer.

That statement is very misleading.
You actually do pay for your agent's commission in the sales price. Homes are priced with the commission in mind. So if you go at it alone, you can offer the commission percentage less that would have gone to a buyer's agent, and the seller would still be getting a full price offer. Just because you don't have an agent, doesn't mean the listing (seller's) agent would get the commission that would have gone to a buyer's agent - unless you tell the listing agent you want them to represent you too or double end the transaction.
The contract says whether or not you're using a broker.