1. Overpriced Properties
One of the biggest risks when buying a house without a real estate agent is overpaying. Without market knowledge, you might not recognize when a property is listed above its fair market value. A comparative market analysis (CMA) is essential to ensure the asking price aligns with recent sales of similar homes in the area.
How Homa Helps: Homa provides access to market data, pricing trends, and CMA tools, helping you analyze property values and make an informed offer based on real-time insights.
2. Hidden Property Issues and Incomplete Disclosures
Sellers may not always disclose all issues with a property, and some might deliberately omit crucial details. Structural damage, pest infestations, or outdated systems can be costly problems if overlooked. The best way to protect yourself is to always get a professional home inspection and never assume the seller is telling the whole truth.
How Homa Helps: Homa’s AI-powered disclosure review tool can point out red flags in any disclosures the seller has provided, and eventually Homa will have the ability to review your home inspection report to help you understand the findings.
3. Unclear Title
A clean title is essential to avoid future legal disputes. If the property has unresolved liens, easements, or disputes over ownership, it could create significant legal issues down the road. Working with a professional title company and requesting a thorough search (including searches for outstanding utility bills, open permits, and other violations or concerns), can help prevent any unexpected surprises.
How Homa Helps: Homa can connect you to local, well-reviewed title companies and answer questions you may have as you work through the escrow process.
1. Overpriced Properties
One of the biggest risks when buying a house without a real estate agent is overpaying. Without market knowledge, you might not recognize when a property is listed above its fair market value. A comparative market analysis (CMA) is essential to ensure the asking price aligns with recent sales of similar homes in the area.
How Homa Helps: Homa provides access to market data, pricing trends, and CMA tools, helping you analyze property values and make an informed offer based on real-time insights.
2. Hidden Property Issues and Incomplete Disclosures
Sellers may not always disclose all issues with a property, and some might deliberately omit crucial details. Structural damage, pest infestations, or outdated systems can be costly problems if overlooked. The best way to protect yourself is to always get a professional home inspection and never assume the seller is telling the whole truth.
How Homa Helps: Homa’s AI-powered disclosure review tool can point out red flags in any disclosures the seller has provided, and eventually Homa will have the ability to review your home inspection report to help you understand the findings.
3. Unclear Title
A clean title is essential to avoid future legal disputes. If the property has unresolved liens, easements, or disputes over ownership, it could create significant legal issues down the road. Working with a professional title company and requesting a thorough search (including searches for outstanding utility bills, open permits, and other violations or concerns), can help prevent any unexpected surprises.
How Homa Helps: Homa can connect you to local, well-reviewed title companies and answer questions you may have as you work through the escrow process.
1. Overpriced Properties
One of the biggest risks when buying a house without a real estate agent is overpaying. Without market knowledge, you might not recognize when a property is listed above its fair market value. A comparative market analysis (CMA) is essential to ensure the asking price aligns with recent sales of similar homes in the area.
How Homa Helps: Homa provides access to market data, pricing trends, and CMA tools, helping you analyze property values and make an informed offer based on real-time insights.
2. Hidden Property Issues and Incomplete Disclosures
Sellers may not always disclose all issues with a property, and some might deliberately omit crucial details. Structural damage, pest infestations, or outdated systems can be costly problems if overlooked. The best way to protect yourself is to always get a professional home inspection and never assume the seller is telling the whole truth.
How Homa Helps: Homa’s AI-powered disclosure review tool can point out red flags in any disclosures the seller has provided, and eventually Homa will have the ability to review your home inspection report to help you understand the findings.
3. Unclear Title
A clean title is essential to avoid future legal disputes. If the property has unresolved liens, easements, or disputes over ownership, it could create significant legal issues down the road. Working with a professional title company and requesting a thorough search (including searches for outstanding utility bills, open permits, and other violations or concerns), can help prevent any unexpected surprises.
How Homa Helps: Homa can connect you to local, well-reviewed title companies and answer questions you may have as you work through the escrow process.
4. Unrealistic Seller Expectations and Pressure Tactics
Some sellers may have unrealistic expectations regarding price or terms, making negotiations difficult. Additionally, without an agent, you might face high-pressure tactics from sellers or their representatives.
How Homa Helps: Homa provides scripts you can use to interact with the listing agent, making sure the conversation stays professional. And with AI-powered insights, you can feel confident that you have the right information to negotiate strongly on your own behalf.
5. Financing Hurdles
Finding the right mortgage lender without an agent’s referrals can seem stressful. The mortgage process is complex, and choosing a lender with unfavorable terms could cost you thousands over time.
How Homa Helps: Homa’s AI assistant can help you understand loan options and answer your initial questions, then can connect you with a local, trusted lender who can get you pre-approved with the best terms.
6. Inadequate Property Appraisal
A low appraisal can impact financing and your ability to close the deal. If the appraisal comes in below the agreed price, the lender may not approve the loan amount, leaving you with a funding gap.
How Homa Helps: Homa sets you up for appraisal success by suggesting a reasonable offer price from the start. But if you do end up having an appraisal issue, Homa's AI assistant can help you negotiate with the seller to come to a mutually beneficial agreement. If you ultimately can't come to terms, Homa's addendum generator can help you quickly and easily draft a contract cancellation request.
7. Complex Legal Documents and Closing Delays
Real estate transactions involve numerous legal documents, and without professional guidance, you risk missing critical terms or conditions. Misinterpreting legal jargon could result in unfavorable contract terms, unexpected fees, or closing delays.
How Homa Helps: Homa helps break down common real estate contracts and explain key terms. It also provides a closing checklist to help you stay on track and ensure a smooth transaction on your side. If needed, Homa's AI assistant can refer you to a local attorney.
