Hamptons real estate are houses directly sold by the current owner minus a listing agent. It is actually a practical way of selling and buying a house because a real estate agent or broker is not involved, thus saving the seller three to six percent of the final selling price. In such a transaction, it is the responsibility of the seller to perform all the detailed work so as to sell his house.
In this article are the benefits of buying houses sold directly by the owner.
There are many purchasers of houses who think real estate agents do not charge anything. The truth is the seller of the house has to increase his selling price to pay for the commission of the agent. It is the buyer then who pays for this commission. Purchasing a house for sale by owner (FSBO) will definitely save both the buyer and the seller money.
One of the benefits of purchasing Hamptons real estate is it saves the buyer time since he deals with the seller and not with a third party. He gets to communicate quickly, directly and straight to the point. In a shorter period of time, he will accomplish more and move in to his new home sooner than when he deals with a real estate agent.
When a buyer directly deals with a house seller, it brings less confusion and frustration. He will get firsthand information about the house from someone who knows it well enough as he has lived there. When the buyer speaks to the agent, he is actually getting information from an outsider who may not know the house well enough or worse, have not yet seen it at all. Dealing with the owner directly can bring in better and quicker negotiations in terms of price. If a middleman is involved, negotiations may take weeks or months and sometimes, the deal is lost.
Another benefit of purchasing an FSBO house is that it is easy to do since there are only two groups speaking to each other regarding their concerns and needs. No middle man is present to ensure a sale happens so that he can get his commission immediately.
In real estate deals, the ideal scenario is a transaction only between the seller and the buyer. When a real estate agent is involved, complications involving self-interest of the agent rise up. This self-interest can conflict with the interest of either of the involved parties. The agent wishes to see the house sold because his commission remains comparable whether the buyer gets the house at its rightful price or not. If the buyer is shopping for FSBO properties, he has control of the situation.
Real estate companies say that the whole process is very difficult and confusing. The truth is the hardest part is done by an escrow or title company which transfers the property title once they are given proper sales contracts. If the buyer does not feel at ease in the real estate transactions, he can speak to his lawyer to get advice and be charged a lot less than seven percent.
More and more people are now buying houses straight from the current owners because of the benefits they gain from such a transaction. It is no wonder why Hamptons real estate have become very palatable to potential buyers of houses.