buying-a-home

The Do’s and Don’ts of Buying a Home Unseen – Zack Childress

Introduction

Buying a home involves a lot of effort and time. We have to visit the home personally, research the neighborhood, talk to our neighbors and conduct a home inspection. But, when we find ourselves in circumstances where we have to buy cross country homes, encounter a tight housing market and face complicated seller situations, buying homes unseen seems to be a necessity. Buying a home unsighted can be very frightening. We cannot accurately gauge whether the home will meet our wants or needs by looking at pictures or photos. Zack Childress, a real estate investor and mentor, gives guidelines on the Do’s and Don’ts of buying a home unseen.

Do’s and Don’ts- as reviewed by Zack Childress

Contingency clause

We must make sure that there is a contingency clause in the agreement. A contingency clause specifies that the home buyer has the rights to inspect a home within a 5-7 days time period. The home buyer can cancel the contract if the home inspected is found to have many damages and repairs. We as home buyers should generally use the services of a home inspector to oversee the home. He assesses the electrical facilities, finish, ventilation and other structural components of the home.

Working with a trusted real estate agent

We should work with a trusted real estate agent. He should be able to walk us through the property without our presence. He should use technology to show us a virtual view of the home which must cover all the aspects as seen in person. We must hire a honest real estate agent first and foremost.

Take the help of a representative

We should send a representative on our behalf. It is better to send a friend or a family member who knows our interests and who is capable of assessing whether the home will serve our wants and needs.

Don’t go by online photos

Online photos can be misleading. For example, a room can be portrayed as having lots of space when it does not have much. We must always use FaceTime or videos to know the real appearance.

Calculate the risks

We should weigh all the risks associated with buying unsighted. The risks associated with buying unsighted are

  • We may not understand the demographics of the area that we are buying in
  • We may be unfamiliar with the locality, community, local supply and demand, suburb, community, council developments, building and strata inspections, holding costs and possible income and deduction calculations.
  • We may be blind in selecting sometimes
  • We may tend to go by opinion and emotion rather than facts, figures, research and diligence
  • We may not have a price point to work within
  • We must understand the risks associated with buying unseen, devise ways to counter these disadvantages and then proceed with the buy.

Conclusion

The tips given in this article by Zack Childress will be very useful for buying homes unsighted. Home buyers must read through and try to follow them.