Buying a house, sight unseen can be intimidating, especially if you haven’t ever done it before. If you have found yourself in a position where you are considering buying your home, sight unseen, the investor hub has some tips that you might want to consider.
The first and most valuable piece of advice that can be offered is to go in assuming the worst. This is not the time to be an optimist, assume the worst, and hope for the best. That being said, when buying a house sight unseen, what you pay for the home should factor in that the whole house may need to be redone. There can be underlying issues you cannot see from a simple photograph.
Secondly, consider looking at an aerial view of the home, if you can. View the area on google earth and see what is the house surrounded by, what does the property back up to. Is there anything that could potentially drive down the property value – say, a railroad that could produce unwanted noise pollution, or a hotel where there is a lot of foot traffic by unfamiliar people around the area. While checking the aerial view of the home you may also want to check the crime rates in the area as well. Getting as much information as you can before hand without seeing the home, is definitely in your best interest.
Lastly, if possible try to negotiate a contingency in that would allow you to back out if the conditions are worse than what was portrayed, It is always good to have a plan B when you are making such a huge investment. There are plenty of pros, to buying a house sight unseen, especially in a competitive market, but making sure you are covered in case things go awry is quite literally, priceless.