Buying From Private Sellers

“Is there anything to worry about when buying from a private Seller”?

Yikes… This is a loaded questions as I am no doubt bias and think all Buyers should use a Realtor.  That said, here are a few facts about the potential risks of Buying from a private Seller…

  1. Private Sellers are not governed by any laws or regulations surrounding the sale of their property;
  2. Private sellers are not forced to make disclosures relating to their property;
  3. In multiple offers the seller can disclose the contents of your offer to another Buyer.

All in all, what it boils down to is, as a Buyer you have little to no protection when Buying from a Private Seller as the strict laws Realtors need to follow are not ENFORCED on private sellers.  In my mind when you are spending such a large sum of money on one purchase it makes sense to ensure you are protected.