Orange County Information Center - Home Buying

If I buy in a new development, do I need a realtor? If so, why? I am interested particularly in the Columbus Grove area in Irvine, California. I currently would like to spend $80,000 less than the price of the home I'd like to buy. How feasible is an offer like this?

Although you do not have to use an agent to represent you in the purchase of a home, I definitely recommend that you do. As a real estate lawyer, I saw a number of transactions in which an unrepresented buyer was unhappy with the purchase of a home and later tried to undo the purchase or obtain compensation for the difference in value between what they thought they were purchasing and what they ended up with.

It is important to remember that the owner will have an agent representing them, and potentially an attorney as well. As it does not cost anything to have an agent represent you, there really is no downside to working with an agent whose job is to look out for you interests, and yours alone, not the seller's interests.

It can also be a big time savings to use an agent. As one of the other answers suggested, it is a good idea to know what other homes have sold for in the area. An agent can provide you with this information, and much more, and save you the time of trying to find it on your own.

There are currently 7 properties for sale in Columbus Grove. As most of the properties have been on the market for quite some time, it is reasonable to expect that you will pay less than asking price, and in some cases much less than the asking price depending on the seller's motivation.

I also have a property for sale in Columbus Grove that is not listed in the Multiple Listing Service as it is currently being used as a rental. It is a 5 bedroom, 4 bath home, 3100 sq. ft. home with major upgrades. My clients are looking to sell the home and recover most of what they paid for it, and don't expect to make a profit, so it is a good buying opportunity. If that sounds like something that may be of interest to you, please let me know.

Warmest Regards,

Amanda Wheeland
Orange County Real Estate Advisor

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