More recently, buyers have begun to locate their own properties and negotiate for themselves the terms of a purchase.
The advantage of private transactions is to eliminate the cost of real estate commission payable on the transaction, which is typically reflected in the overall purchase price.
The basis of this presumption is that, if real estate agent commission fees are eliminated, more money flows to the Seller, who may in turn, reduce the overall purchase price, to the benefit of the purchaser. Both the purchaser and seller shall require a lawyer to complete the transaction.
The lawyer acting for either a buyer or seller in a private transaction will often be tasked with negotiating the terms of the Agreement and providing advice in respect thereof. Nichols Law can assist you to prepare and negotiate an Agreement to purchase or sell real estate, when a real estate agent is not involved.