My husband and I are first time homebuyers. We haven't signed with a buyers agent yet as we planned to purchase our first home in spring 2026. We just heard through a family friend that a house in the area we're wanting to purchase is for sale off-market. Based on our research, the price is great and cheaper than the numbers we have been seeing lately. Apparently the owners are moving across the country and have the caveat that they'd like to sell now and then rent the property until they are ready for the move. This would be perfect for my husband and I, as we think the price sounds great, and then we could remain in our apartment until our lease is up in the spring.
We know the area fairly well, it has a great school system, and we have family who lives in town already who can also advise on questions we have about the town. We are located in the tri state area, so the market is still very hot and we don't want to pass on a seemingly great deal.
Our big question is, if we still get an inspection and real estate attorney, do we need to get a buyers agent at this point? Anyone here have experience forgoing a buyers agent when purchasing off-market?
Forgoing buyers agent for off-market purchase?
byu/kbkat inRealEstate
Posted by kbkat
3 Comments
Skip the buyer’s agent if you’re comfortable with the process and have a good RE attorney – they’ll handle most of what an agent would do anyway. Just make sure your attorney is solid since you’re doing the rent-back thing which can get tricky with timing and liability
You don’t need a buyers agent, just a lawyer. Generally people price things accordingly so make sure you are looking at a few places when you see this one. The condition inside could be worse than you think. Rent backs have risks. People usually want below market rent, often stay well past the agreed date, end up leaving damages or take something that was part of the house. You would have little recourse asside from expensive litigation in court.
As others have said, you don’t need the buyer’s agent. But do take along someone who has been through at least two or three real estate transactions. Don’t forgo an inspection of the major expense aspects of the house (HVAC, plumbing, roof, foundation). If it were me, personally, I’d ask for these inspections (I’d probably pay for them myself) and state I’d only negotiate if a repair is needed that’s likely to be over $5K. Any reasonable seller ought to go for that.
The key to making the rent back thing work is to stay on good terms with the seller. And have the lawyer put in some clause that terminates it within a reasonable time so they can’t stay rent free in your house if their next situation falls through.