Advantages and disadvantages of buying a house without a real estate agent
Buying a home without a buying agent gives you more freedom and can save a lot of money. But you also lack the protection and expertise that a buying agent offers.
Here are the advantages and disadvantages of buying a home without a buying agent at a glance.
Want to make sure you don't miss any pitfalls and get the best deal? Then engage homeup as your buying agent. You get full guidance for a flat rate, with no surprises afterwards. Register for free and take the first step towards your new home today.
Buying a house without a real estate agent advantages
Yes, there are definite advantages to buying a home without a real estate agent. You save costs, stay in control and learn an enormous amount about buying a home.
Key advantages of buying a home without a real estate agent:
- Cost savings: not paying a buying agent's commission means thousands more for your new home or furnishings.
- Complete control: you decide which properties you visit, when you bid and what conditions you set.
- Get flexible help: only have a purchase contract or architectural inspection checked.
- Own pace: no dependence on schedules of multiple brokers.
- Learning for the future: after one time, you know exactly what to look out for.
Buying a house without a real estate agent disadvantages
Yes, there are also disadvantages to buying without a buying agent. You lack professional guidance, legal knowledge and access to some homes.
The biggest disadvantages of buying a house without a real estate agent:
- Less access to homes: buying agents sometimes have access to silent sales or internal networks.
- Legal pitfalls: without legal knowledge, you miss risks in the purchase contract.
- More time investment: looking for houses, making appointments and arranging documents yourself takes a lot of time.
- Bargaining disadvantage: brokers know how to turn off emotion and bid strategically.
Buying a house without a real estate agent step-by-step plan
Yes, you can buy a home yourself without a real estate agent if you go through the process step by step. Below you can see at a glance all the steps you need to take to buy your new home successfully and without an expensive broker's commission.
- Determine budget and requirements
- Find suitable housing
- Schedule viewings
- Examine the property
- Determine your bidding strategy
- Make your first bid
- Check the purchase contract
- Arrange funding
- To the notary
1. Determine budget and requirements
Determine your maximum budget and housing needs. Have a mortgage advisor calculate what you can borrow and the monthly costs associated with it. Write down desires such as location, house type, number of rooms and proximity to public transportation. This way you avoid wasting time on unsuitable houses.
2. Find suitable housing
Actively search for homes that fit your budget and needs. Use Funda, social media, housing platforms and your own network. Also keep an eye on home values and market trends so that you remain realistic in what is possible.
3. Schedule viewings
Schedule viewings yourself and go well prepared so you don't miss important details. Look at photos, request the sales brochure and make a checklist. Take someone with construction knowledge with you, so hidden defects will be noticed more quickly.
4. Examine the property
Always conduct research on the property before bidding. Check the energy label, request cadastral data and, if necessary, have an architectural or building inspection performed. This will prevent unpleasant surprises.
5. Determine your bidding strategy
Decide in advance how much you are willing and able to offer. Look at recent sale prices in the neighborhood to determine what the house is worth and include resolutive conditions, such as financing or an architectural inspection. This way you keep a grip on the negotiations.
6. Make your first offer
Always make your offer in writing and complete. Include the price, the resolutive conditions and the completion date. Keep your cool and stick to your maximum purchase price, even after you've found your dream home.
7. Check the purchase contract
Always have the purchase contract legally checked. A buying agent will help you detect errors or unfavorable terms, so you don't risk expensive problems later.
8. Arrange funding
Complete financing on time. Deliver all necessary documents to your mortgage lender as soon as your offer is accepted and keep in mind the deadlines in the purchase contract. That way, you can avoid having the purchase rescinded.
9. To the notary
Close the purchase at the notary. Here you sign the deed of transfer, pay the purchase price and officially receive the key to your new home. From that moment on, you are the owner.
To hire a buying agent or not?
There are distinct situations in which it is better to use or not to use a buying agent. Below is an overview that will help you quickly determine what is best for your situation.
Do you still have doubts after seeing these differences? In our article to buy or not to buy an estate agent you can read in more detail what a purchase agent can do for you. Don't want to risk any mistakes and be sure of the best deal? Then hire homeup as your buying agent. We guide you from the first viewing to handing over the keys and ensure that we always give you good advice. All for a fixed rate, with no surprises. Register for free and take the first step towards your new home today.
What does it cost to buy a house without a real estate agent?
Even if you are buying a home without a real estate agent, you face several expenses. Some are mandatory, others depend on your choices or situation. Below is the complete overview of costs:
Fixed and common costs
- Transfer tax: 0% with starter exemption or 2% of purchase price.
- Building inspection: €350-€500 for a standard report.
- Appraisal: €550-€850, often required for the mortgage.
- Notary fees: €700-€1200 for delivery deed and mortgage deed.
- Land Registry registration fee: ±€80-€150 for registration of property.
- Bank guarantee: often 1% of the purchase price, usually settled at transfer.
Optional or situation-dependent costs
- Additional inspections: €200-€800 e.g. foundation survey or asbestos survey.
- Mortgage advice and mediation: average €1500-€3000.
- Energy label: €200-€300 if seller does not provide it.
- Moving and furnishing expenses: highly dependent on your situation.
- Any costs for resolutive conditions: such as a conditional building inspection or financing (administrative costs).
What does buying a house with a real estate agent cost?
If you buy a house with an estate agent, you have the same purchase costs as without an estate agent, such as transfer tax, notary fees, valuation and an architectural inspection. On top of that, you also pay the broker's own costs. These are the average costs for a buying broker and those of homeup:
A traditional buying agent usually charges a commission of 1% to 2% of the purchase price. For a €400,000 home, that quickly means an extra €4000 to €8000. Some purchase brokers work with a fixed rate of €3000 to €5000.
With homeup, you always pay one fixed rate of €2749, with no hidden costs, and only upon key transfer. We work as a no cure no pay buying agent: if you don't buy a home, you pay nothing. So you know exactly where you stand and you have more budget left over for your new home. In addition, you can register for free and get immediate help from our estate agents in your house hunt.
Learn more about the cost of a buying agent and see how much you can save with homeup.
{{vragen}}
