Pros and Cons of Buying Property from - Agent, Direct or Online
Apr 10, 2017 Home Trading Steps
Property buying, as well as selling, is a very big industry that employs thousands of people for its smooth functioning. Gone are the days when there used to be direct dealing between the seller and the potential buyer. With the ever increasing flow of money in the real estate business, the overall structure of property sale has witnessed the advent of several selling parties all at different levels. For starters, in the current market scenario, home buyers have the option of purchasing the property either directly from the developer or through real estate brokers and property consultants. Moreover, sellers are now even listing their projects for sale on the online platform. So which is the best way to buy your dream property?
Let us discuss the pros as well as cons of buying property from developers, brokers, and online stores:
1. Buying property directly from the developer:
Advantages:
Buying property directly from the developer/seller reduces the gap in communication between the selling and buying parties. Buyer can get his queries solved more convincingly by the primary seller rather than a mediator. Moreover, it is observed that the seller may try to adjust his schedule according to the buyer’s convenience.
Disadvantages:
Buyers usually find it tough to get the legal paperwork done if dealing directly with the seller. Property agents at times help their customers in getting the paperwork done. Also, the buyer needs to verify the project and its legal standing on his own.
2. Buying property through a broker:
Advantages:
Brokers do the job of filtering the properties as per your needs. They save a lot of your time and energy by showing you the properties that are within your budget and convenience.
Property agents have a sound knowledge of paperwork related to buying of a property. Hence, you may get a lot of their help in getting your paperwork done, which is actually a quite tedious process.
Disadvantages:
Since the brokers provide you so many services, you need to pay them commission which is a certain percentage of the total property value. Also, it is important for a buyer to have a good coordination with the broker, else, it may result in loss of both time and energy.
3. Buying property through online platform:
Advantages:
The online medium has enabled the buyer to explore properties around the globe by means of a few clicks. The websites dealing with the sale of real estate properties are loaded with all kinds of information related to the projects. Hence, through the online medium, one gets the privilege of exploring many projects by spending less time than the conventional methods.
Disadvantages:
Although websites provide buyers with all kinds of project related information, it is very difficult to verify the genuineness of the stated information.
Conclusion:
As discussed above, all seller platforms have their own merits as well as demerits. Hence, experts suggest that buyers should make use of all these discussed mediums to make the best choice. A buyer can quickly explore the project details on its website before getting a meeting fixed with the concerned broker or the developer. Buyers can make use of online portals to compare prices as well as specifications of multiple projects and then, negotiate accordingly with sellers. Although this is a time-consuming practice, it will certainly be beneficial for the buyers in the long run.
Let us discuss the pros as well as cons of buying property from developers, brokers, and online stores:
1. Buying property directly from the developer:
Advantages:
Buying property directly from the developer/seller reduces the gap in communication between the selling and buying parties. Buyer can get his queries solved more convincingly by the primary seller rather than a mediator. Moreover, it is observed that the seller may try to adjust his schedule according to the buyer’s convenience.
Disadvantages:
Buyers usually find it tough to get the legal paperwork done if dealing directly with the seller. Property agents at times help their customers in getting the paperwork done. Also, the buyer needs to verify the project and its legal standing on his own.
2. Buying property through a broker:
Advantages:
Brokers do the job of filtering the properties as per your needs. They save a lot of your time and energy by showing you the properties that are within your budget and convenience.
Property agents have a sound knowledge of paperwork related to buying of a property. Hence, you may get a lot of their help in getting your paperwork done, which is actually a quite tedious process.
Disadvantages:
Since the brokers provide you so many services, you need to pay them commission which is a certain percentage of the total property value. Also, it is important for a buyer to have a good coordination with the broker, else, it may result in loss of both time and energy.
3. Buying property through online platform:
Advantages:
The online medium has enabled the buyer to explore properties around the globe by means of a few clicks. The websites dealing with the sale of real estate properties are loaded with all kinds of information related to the projects. Hence, through the online medium, one gets the privilege of exploring many projects by spending less time than the conventional methods.
Disadvantages:
Although websites provide buyers with all kinds of project related information, it is very difficult to verify the genuineness of the stated information.
Conclusion:
As discussed above, all seller platforms have their own merits as well as demerits. Hence, experts suggest that buyers should make use of all these discussed mediums to make the best choice. A buyer can quickly explore the project details on its website before getting a meeting fixed with the concerned broker or the developer. Buyers can make use of online portals to compare prices as well as specifications of multiple projects and then, negotiate accordingly with sellers. Although this is a time-consuming practice, it will certainly be beneficial for the buyers in the long run.
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