More Buyers Making Offer Before Seeing Home!

“Competition is so fierce, in fact, that 33% of Americans who bought a home in the last year made an offer without even seeing the home in person, according to a survey from Redfin, an online real estate brokerage.

(Source) Housingwire

Housing inventory fell 8.9% from last year in the second quarter of 2017, sending home-buyers scurrying to beat the rising competition.”

Making an offer site unseen may seem like a risk, but with competition for housing in many markets this continues to be a rising trend. Technology has helped eliminate some of the unknowns with making an offer on a home site unseen.

Virtual tours, drone videos, and live video of homes for sale make it seem like you have already previewed the home. It’s also easy to search neighborhood information, google maps, and comparable sales to be sure you are getting the right home for your needs at a good price.

Typically any home purchase has an inspection period. This time can be used for a potential home buyer to view the home in person if needed. It’s also suggested to hire a proffesional home inspector. The home inspector will point out any structural, electrical or any other repairs on the home that may needed.

Making an offer on a home site unseen is going to continue to be a rising trend among home buyers. Mortgage rates continue to stay low, and with unlimited video, photo, live and social media tools available to Real Estate Agents and home sellers, you may be soon buying a home via “Alexa or Siri”.

Have you purchased a home site unseen? Would you? Leave a comment below.

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