Buying a house is a very big deal. It’s the place you make your home, where you will be creating lifelong memories, and it is likely one of the biggest purchases you will make. Therefore, it’s not surprising that buying a house without seeing it in person first can seem completely unfathomable. However, given the current COVID-19 pandemic, the process of buying a house sight unseen is becoming more common. The current world pandemic has left those wanting (or more accurately, needing) to buy a home in limbo, without much of a choice. It might come as a surprise, but even in the pre-pandemic days, buying a house sight unseen was a relatively common practice. While not always a first choice, with the right planning and research, buying a house without seeing it first isn’t as scary as it sounds.
How the process works.
Buying a house sight unseen, literally refers to the process of not physically seeing the property before purchase. You can view the house through video or virtual tours and connect with your agent remotely. The whole buying process can be completed remotely, even the physical signing. Like any house purchase, it’s important to work with a realtor that you trust. They will make sure the transaction goes effortlessly and that you’re protected from any surprises (or worse, legal complications).
Research the area
If you’re not from the area, it’s important to get a feel for the community you will be living in. Buying with an agent who knows the area well is a huge benefit buying sight unseen. If you’re not from the area you’ll be able to gain as much information as you need through their expertise. They’ll be able to give you an idea of the general demographic and feel of the neighborhood that you wouldn’t be able to grasp only from the pictures.
Google Maps is your friend. While it isn’t always up to date you will most likely be able to spot if the home you’re interested in is right beside a rubbish dump or a nightclub. If eating out is important to you, go on a google search for any eateries nearby. The same goes for any parks and other community spaces that are a priority.
You can even ask your realtor to take you on a virtual tour of the community.
House inspection
It’s important to make sure you take all the right steps and receive professional guidance before buying sight unseen. It goes without saying that passing a home inspection or survey should be a condition of purchase. This step is even more crucial when buying sight unseen as you can’t physically visit the property to see any potential problems. Any dry rot, dampness, structural issues will be picked up on this report so you can go into the sale with the confidence you’re not walking into a money drainer.
Keep it new
Inevitably there are risks with buying sight unseen so it is advisable to buy newer properties. Even with a property inspection things can be missed and older homes are more prone to having issues. Buying a newer home unseen will give you some peace of mind and it will be more likely to be up to date with all building codes and regulations.
Use technology
We are living in the future when it comes to technology, so why not put it to good use. Video tours are a great option when buying sight unseen. Photos often bring out the best in a house, by going on a video tour you can get a more realistic feel and grasp the true physical spaces. The listing agent can take you around the house like you’re there in person via Skype, Zoom or Facetime. It is also a common practice for houses to have a virtual tour on their listing already, which you can view before even showing interest in the house. For more information about how I use virtual marketing for all of my listings, click here.
You can make an objective decision
A big part of home buying is the ‘feel’ you get while being in the home, you might fall in love with the ambiance, the decor, or even the lighting. When you don’t see the house beforehand you erase a lot of this emotional connection which could potentially lead you to overlook any issues. You might love the house so much when the building report comes back with a leaky roof and structural damage you ignore it and go for it anyway. When buying sight unseen you can lay out all the facts clearly in front of you. The building report, the location, any positives or negatives, and a more objective decision can be made. Yes, you will still be able to get a feel of the house through pictures and video viewings but you won’t be as invested as if you’d viewed the house five times in person.
Choose the right agent
As mentioned before choosing the right agent is a necessity when buying unseen. Not only can they provide information about the general location, but will also be well versed in making sure the process goes smoothly. Choosing an agent who has experience dealing with sight unseen buying will calm your nerves. They will be able to effortlessly answer any pressing questions you have about the process and guide you through all the steps. A well-known agent with a good reputation is important as you are putting a lot of your trust in their hands.
By doing your research, weighing up the risks and following the correct procedures, buying a home sight unseen can be a dream come true. Many have successfully found their fairytale property through buying sight unseen, even before the current situation. With the presence of the pandemic, buying sight unseen will inevitably become more common. With the correct practices and procedures, there’s no reason why it shouldn’t.
Thinking of buying or selling real estate in the Fraser Valley? Let’s talk!