Making an offer without seeing the property seems to be a daunting task previously, but with the advancement of technology and information, it can be a feasible option in today’s market. Potential buyers are now able to get a comprehensive understanding of the property through virtual tours, photographs, and neighborhood reports. This article will guide you through the process of making an informed offer on a property without physically inspecting it and the pros and cons of it.
Making an Offer Without Seeing the Property: What Does it Mean?
When someone says they’ve purchased a house unseen, they haven’t seen the house in person. In other words, they haven’t toured the house nor have they gone to a showing. The most common reaction to this would be an eyebrow raise, because why would anyone want to buy a home they’ve never seen, right? Wrong.
Contrary to the name, a “house unseen” isn’t actually a house that you haven’t ever seen. It’s actually a house that you have seen – virtually, that is.
It’s actually not uncommon to purchase a property that you’ve never even seen in person. For instance, if you’re going on a long-distance move, it would be impractical to have to go over there to inspect the property in person. Besides, if you find a house for sale in a hot market, you better buy it fast before someone else beats you to it!
What Are the Pros and Cons of Buying a Property Unseen?
Even if two-thirds of homebuyers purchased a home they’ve never seen in 2020, that doesn’t mean it doesn’t come with a few drawbacks. Below, we’ve broken down a few of the pros and cons of making an offer on properties you’ve never seen in person:
Pros of Making an Offer Without Seeing the Property
Making an offer on a property without physically seeing it can have several benefits. This strategy allows for a more efficient and streamlined transaction process, potentially saving time and money for both parties involved.
#1 You Can Close the Deal Faster
Are you worried that another buyer will beat you to it? By buying a house you’ve never seen, you can close the deal without a second to waste. All you have to do is to view the virtual tour, and then contact the homeowner or their realtor to close the deal when you’re ready – it’s as simple as that! That way, you can claim ownership of the property first – other budding homebuyers will still be waiting for the showing!
#2 You Can Avoid In-Person Showings
Don’t want to go to in-person showings due to social distancing issues? Don’t worry – you don’t need to. With virtual showings, you’ll be able to view the property from top to bottom, from the comfort of your home. You can tour the property safely and at your own pace. If you’re from out-of-state, you can also save as you don’t have to drive all the way there!
#3 You Can Save Time
The problem with in-person showings is that they’re time-consuming and costly (particularly if you’re from out of the state). Fortunately, you can view the home virtually – you can even view multiple homes every day to speed up the process! That way, you won’t have to wait for the showing’s schedule to get a good look at the house – it’s all on the internet, anyway!
Cons of Making an Offer Without Seeing the Property
Making an offer on a property without physically viewing it can also have its potential drawbacks and understanding the potential downsides is crucial.
#1 You Won’t Be Able to Inspect It Closely
Virtual tours are convenient, but let’s not overlook the obvious – you likely won’t be able to tell if the home has mold, mildew, and more. The property may look perfect on screen, but in reality, there may be serious concerns that you can’t spot from the surface. What if the kitchen counters look brand-new, but they’re really in dire need of repairs? You may end up paying more than what you were planning to.
#2 You Don’t Get to Gauge the Room Dimensions
Don’t let the cameras trick you – they can make the room seem more spacious than it actually is. What looks like a massive master bedroom may actually be a tiny home that’s filled with even tinier furniture. Even if the realtor walks inside the space (like a guided tour), there’s still a good chance that they’re using a certain lens to make each room look more spacious.
#3 You Can’t See It in Its “Natural” Condition
You’ve got the sights, but you don’t have the sounds nor the scents (or the stench). With virtual tours, there’s always a possibility that the video has been edited to make the home look better than it truly is. Maybe they’ve put a filter over it, or maybe they’ve made certain colors pop to make it look like it was newly painted. Whatever it was, you won’t be able to be 100% sure that what you’re seeing is real.
Plus, you won’t be able to listen to the neighborhood. What are the neighbors like? What if after you buy the home, you move in and find out that your neighbors aren’t the greatest? It’ll be too late by then.
Tips on Buying a House Unseen
We already know the possible advantages and disadvantages of investing in a property unseen. Let’s go through some of the best practices of buying a house unseen.
#1 Ask a Friend to Check It Out For You
If you know people from the place where the property is located, it would be a good idea to ask them to go and check it out for you. That way, you can be certain that you aren’t being catfished.
#2 Partner With a Property Management Company
You could also partner with a property management company that can inspect the property in person. For instance, if the property is in South Floria, you can ask a South Florida property management firm to make sure that what’s on the picture is what’s really there in person. Not only that, but if you do buy the property, they’ll be able to prepare it for you so that you can move into it the moment that you arrive. As a bonus, they’ll even be able to manage your long-distance move if needed.
#3 Buy From a Reputable Website
Avoid websites that you’ve never even heard of before. As a rule of thumb, you should only buy an unseen home from reputable websites. It would be better to buy a home with the help of a real estate professional, or through a property management agent.
Buying a House Unseen? Partner With the Pros
If you want to buy a house unseen, be sure to partner with a reputable company with actual experience such as Luxury Property Care. By buying a house unseen with us, you can be absolutely certain that you won’t be catfished by any homeowner. We’ll visit the property on your behalf, inspect it from top to bottom, provide you with our unbiased opinion, and ensure that it’s “move-in-ready”. We’ll also connect you to some of the top realtors in the area – ones whom we’ve known for years and whom we can vouch for.