
At Josey Young & Brady, our real estate agents are working overtime to help clients find the best Atlanta homes for sale. A question we've received more and more often lately is whether it is okay to buy a home "sight unseen" – that is, without visiting it in person first.
As people have gotten cautious about unnecessary travel, it's no surprise they're thinking twice about showings and open houses where they will be around strangers. Naturally, there are pros and cons to consider when you decide whether it's necessary to visit a house.
Naturally, the answer is up to you. However, it's crucial to make an informed choice. Here are some of the biggest "pro" arguments for buying a house sight unseen.
- It Will Keep You And The Seller Safer
The biggest advantage is obvious: It keeps everyone in the transaction safer. Even at a time when fewer communities are enforcing rules and restrictions, most people remain committed to safe social distancing. Setting up a home viewing can be difficult and time-consuming, with a variety of precautions to follow at every step, and 100% safety can never be guaranteed.
- It Can Lead To A Faster Transaction
Many other aspects of your transaction can be handled remotely. Documents can be signed and e-filed without handling paper copies. There's even a thing called "drive-by closing"! This isn't just a matter of convenience – closing faster can result in better rates on your mortgage loan. It may also benefit the seller, which can lead to concessions on the sales price or other matters.
- It Can Make Sellers "Work Harder"
Sellers know that buying a home without seeing it is a big step. Sellers and their agents can and should work hard to help you meet them in the middle. That means providing great photos (and even videos!), answering all questions, and perhaps throwing in a concession or two. Sellers can always walk, but it's reasonable for them to be attentive to your requests at a time like this.
And here are some of the top "con" arguments for going forward:
- You Could Be Deceived by Photography
Even when everyone has the best of intentions, photos don't always disclose everything about a home. Likewise, a small fraction of unscrupulous characters may use camera equipment or image editing software to make a space look very different than it actually does.
- You'll Need to Work Harder to Prepare
When buying sight unseen, it's even more important than usual to get prequalified for a home loan. You should also do your research in advance to establish a budget and stick to it. Even if you love a home, willingness to walk away gives you tremendous negotiating leverage.
- You'll Need to Stick to Contingencies
What are contingencies? They're clauses in a buying agreement that allow you to walk away without penalty under certain circumstances – for example, if a home inspection turns up serious damage to be repaired. Sellers dislike them, but they're a must for a sight-unseen buy.
Remember, buying a home sight unseen is not that unusual these days. In recent research by the National Association of Realtors, a quarter of real estate professionals surveyed said they had clients in a given April, 2020 week who moved forward with buying a home they had not visited in person.
What's the biggest takeaway? Awareness is key, but you don't need to put off your buying plans. The best way to protect yourself from the drawbacks of buying sight unseen is to partner with a real estate agent you trust. To find out more, contact us.