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Buying without a buyer or seller agent

So my wife and I are first time homebuyers and we’ve gone through an agent we really like before, but at the time I decided to stop looking because it wasn’t financially viable for us to buy over renting.

Fast forward 2 years to present day and my thoughts were still the same. We have our rental lease until March 2027, but my mother in law’s neighbors house is getting ready to go to market next month. She knows the seller very well and they’ve let us view the house a couple times already. He’s wanting more than I’m willing to pay but is looking to get it sold ASAP.
My last preapproval was only for 220k as I’m the only income in our household and he wants 250. So my MIL has been bugging me to get a new preapproval, despite my income barely changing lol.

So really just to appease her, I got a meeting with the bank to discuss a preapproval and I actually got approved to 250 and the guy said we have a little wiggle room. Didn’t ask how much because I don’t care to pay more anyway lol.

Sorry this is so long already, but all this to say that since we already know the seller, is there any reason to go through the buyers agent? I don’t know if the seller has an agent either. My mortgage advisor said he could walk us through a lot of the steps but without crossing any legal boundaries. I heard it could save us when it comes to closing so I wanted to hear your guys’ opinions.

Thanks in advance!

submitted by /u/Capable_Community_56
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/1tt1mvi/buying_without_a_buyer_or_seller_agent/
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