Buying a property direct from seller

[Sheazer]

I have seen apartments/houses on sale through Daft.ie that are advertised directly by the seller - not through an estate agent.
For all the estate agent does this seems like a pretty good idea.

What do people think the drawbacks are of buying a property direct from a seller? Has anyone any experience of this type of purchase and would they have any tips?

Is there a real need for the estate agent? I know they are out to get the best possible price but if the seller and buyer can agree on a fair price then everyones a winner (except the agent)!

 

[mf]

What do people think the drawbacks are of buying a property direct from a seller?

There is no reason why people cannot do it. It makes perfect sense. BUT I regularly come across vendors messing, not being serious, not being realistic, etc.,etc. Its hard to tell at the start but they can perhaps just be testing the market with no serious intention of selling.

If they're with an estate agent, the chances are they are serious ( although you do come across some real plonkers who enjoy the attention and business of selling but again without the serious intent).

If you do agree a deal with a vendor personally ( price, whats included and closing date) then do the following:
1. Don't sign anything until your solicitor gets the contracts from vendors solicitors, all apears to be in order and you have loan approval.
2. Don't give any money to the vendor - you can just pay the 10% deposit as normal on contract signing.

mf