# Do I need a realtor ?



## SergeG (Sep 26, 2013)

Good evening Gentlemen,
Friend of mine is selling a property which I want to buy from him. Haven't done anything of this nature before. Wondering if I can avoid using a realtor ( fees are outrages and their input seems non-existent) or decent RE lawyer will be enough ? How does the process work ? Is it as simple as switching names on the title and the mortgage ? 

I'm located in Calgary, if it makes any difference.


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## Just a Guy (Mar 27, 2012)

Write up a contract, you can get one at an office supply store or bookstore, or even the internet (make sure it's for alberta) and then go to your lawyers. No need for an agent.


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## SergeG (Sep 26, 2013)

Thank you, Just a Guy.


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## Just a Guy (Mar 27, 2012)

Of course, you should make sure you know what you're buying...


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## mrbizi (Dec 19, 2009)

SergeG said:


> Good evening Gentlemen,
> Friend of mine is selling a property which I want to buy from him. Haven't done anything of this nature before. Wondering if I can avoid using a realtor ( fees are outrages and their input seems non-existent) or decent RE lawyer will be enough ? How does the process work ? Is it as simple as switching names on the title and the mortgage ?
> 
> I'm located in Calgary, if it makes any difference.


For this type of transaction, you would just need a lawyer and so would the seller. You might want to get an appraisal done by a professional appraiser as well to determine fair market value. This will cost a few hundred dollars, but your friend might be willing to split the cost with you. 

Never draft the contract yourself - have your lawyer do it. Making a mistake can cost you thousands of dollars - and a friendship. Good luck.


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## Taraz (Nov 24, 2013)

Realtors sell your house; they're not experts in contract law. Since you already have a buyer, you'd just need a lawyer.


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## Mall Guy (Sep 14, 2011)

last private sale I did (common where I live) we both used the same lawyer . . .


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## Homerhomer (Oct 18, 2010)

Paying for RE agent would simply be a waste of money, nothing else.


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## Xoron (Jun 22, 2010)

Mall Guy said:


> last private sale I did (common where I live) we both used the same lawyer . . .


I'm surprised any lawyer would do that. Big conflict of interest. Who are they really representing?


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## Just a Guy (Mar 27, 2012)

If it's a simple, straightforward transaction, it's no big deal...the lawyer explains he's only doing a transaction and not really representing anyone (plus you sign an extra form stating as much). If there is a problem later, it could be an issue, but for a transfer of land,it's nothing.


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## Mall Guy (Sep 14, 2011)

I was the seller, got a copy of the mortgage discharge (and could confirm with my bank in any event) . . . and received the balance of proceeds from the sale. Purchaser likely had more risk, but it was his lawyer. Also, live in a small town, and the sale was "as is, where is" and the price reflected it !


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## Rusty O'Toole (Feb 1, 2012)

You don't need a realtor but you do need a lawyer or equivalent to transfer title and make sure all the paperwork is done correctly.

Technically you could do the whole thing yourself but it is best to have a professional to avoid problems down the road.


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