(Photo by Matthew Henry from Burst)

With the heat of today’s real estate market, home buyers are looking for any ways they can speed up the process including the willingness to buy a house sight unseen. With demand far exceeding supply, the most attractive homes hitting the market are selling super fast, and usually with a bidding war involved.

In order to be most strategic in today’s competitive market, some buyers are taking the drastic step of placing bids on homes sight unseen. This means they will have never toured the place in person, though they may have done a virtual tour or seen video and photos provided by their real estate agent. 

Obviously this tactic isn’t without risk, but it can be a winning strategy in a competitive market. And while it might sound a little crazy to make such a big purchase without having ever actually seen the property you’re about to invest in, it’s a tactic that quite a few buyers are resorting to lately. 

Buying a home sight unseen started happening more than ever during the pandemic, when it made more sense given that the health crisis encouraged remote viewing and physical distancing. 

The ongoing market heat put pressure on buyers to move quickly, forego contingencies, and submit offers in the spur of the moment. 

Taking the time to schedule a visit to the property isn’t always possible since properties are selling that fast. But this isn’t entirely an insane idea, because today’s buyers can rely on quality photos, videos, and even real-time virtual streaming tours. And if they are smart they work with an agent that can be on-site and relay any important information back.

All in all, the process of completing a home purchase sight unseen isn’t much different — if at all — than any other home buy. Instead of setting foot on the property to see it in person, you’ll use the written description, photos, video, and remote touring to make a decision on whether or not the property is right for you. 

Just watch out and be aware of these seven mistakes that people often make when buying a house sight unseen.

Buy a House Sight Unseen: Pros

The benefits of making a home purchase without doing all of the usual due-diligence come down to quickness and cost. You might actually get the home for a little less because you’ve made the purchase easier for the seller without having to organize showings and, you’ve likely avoided a bidding war. 

Buy a House Sight Unseen: Cons

The most obvious negative of buying a home without seeing it first is that you don’t have the benefit of seeing the property with your own eyes, assessing its true condition, and getting to see all of its potential greatness or defects in person.

The problem is that, to speed things up and make the entire sales process simpler, some buyers have been considering skipping the home inspection process. Without seeing the home and having the home professional inspected, there can be a great risk of missing the defects of the home with a rushed purchase. 

Make Buying a Home Sight Unseen Work for You 

To minimize the risks when you buy a house sight unseen, you need to pay particular attention to those resources that are available to you, especially your real estate agent. And if you’re planning to buy a house sight unseen, perhaps rethink foregoing the game inspection contingency. 

But your most important tool is your real estate agent, who can not only be there in person to take additional pictures, and show you video in real-time, but who can also look into all of the home’s nooks and crevices to discover any hidden flaws and ask the seller all of the important questions that you aren’t there in person to ask.

Contact LIST WITH ELIZABETH® if you’re considering purchasing a home in the Springfield or Burke area and may need to buy a house sight unseen. We’d be happy to be your eyes in the process.