Good luck with that negotiation. How did you find the property to begin with? Usually on MLS - that means the seller has an Agent. That means that agent will work both sides of that deal if you don't have one to represent your interests. If you are comfortable with a "hand shake deal" with hundreds of thousands of dollars at stake, without a contract (Realtors are trained and certified, licensed by the State to write them) then more power to you. You get zero protection when the seller gets a better offer the day before closing, and sells to someone else. And most sellers aren't interested in all the BS that goes with trying to sell their home themselves, that is why they hire an agent to do it. In this market, you would be a fish out of water without an agent, where there are multiple offers and bidding wars on just about every property.