When you order a pizza, you probably do not examine the pizza, sample it or get a second opinion on whether it is right for you. Instead, you order it from your phone or computer, and it arrives at your door sight unseen. It’s one thing to buy a pizza this way, but can you imagine purchasing your home in this manner?
More and more people are skipping the showing and using virtual methods to examine a property before deciding to buy. In fact, nearly half of all home buyers make an offer on a house without a walk-through, and for many, moving day is the first time they set foot in their new home. Is this something you would do?
Cover all your bases
Part of the fun of home buying is visiting different properties to get a feel for them. However, the world is very different from even just a few years ago. Health and safety concerns prevent many from venturing out as they once did, and for those who are relocating, visiting multiple properties is just not practical. Instead, you might take the following steps:
- Choose a real estate agent you trust, who understands your goals and has intimate knowledge of the area where you are moving.
- Schedule a live video tour with your agent. Don’t rely on website photos or 3D walkthroughs.
- Have questions ready to ask during the walkthrough, especially about the things you can’t experience virtually, such as smells.
- Ask your agent to open cabinets, closets and appliances.
- Find out about services in the area, such as the reliability of internet, cable and cell service.
- Learn about the surrounding area, including school districts, amenities, new construction and the upkeep of the neighbors’ properties.
When you are ready to make an offer, you will definitely want to include high-risk contingencies in your contract, such as financing and home inspection. In fact, your inspection should be as thorough as possible, beyond a general inspection. It will be worth it to hire someone to check the septic system, radon levels, asbestos materials and other items not included in the general inspection, especially if you are looking at an older home.
The closing process is quite different when you are purchasing a home sight unseen, and this will be something to discuss with your agent. In some cases, you might not be able to proceed with a digital closing, so it is smart to find this out ahead of time. Working with a skilled real estate agent can certainly relieve some of the stress you will likely experience during this risky process.