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Selling a home without a buyer seeing it in person

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Omile Joana

New Member
I know it had to be done before, but how often? Has anyone ever sold a home without the buyer seeing the home for themselves in person?
 
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lookinginvest

Member
I have not personally but I know many who have - not sure why people would do it unless they literally planned to knock it down and start from scratch. Then again we are all different.
 
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Longterminvestor

Administrator
Absolutely crazy - if you cant visit the property how would you expect to manage tenants, future sale, etc.
 
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FWL

Active Member
Here is an interesting question, should mortgage companies have small print forcing buyers to have viewed their properties in person before receiving funding? I don’t understand people who buy property without actually seeing it first.
 
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PostBrexitInvestor

Member
Tricky one, as when you take out a mortgage it is your responsibility to cover the payments.
 
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lookinginvest

Member
It is an interesting question, why do mortgage companies not have something in the small print to say you need to have seen the property in person? I presume it is fear that they will lose business?
 
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mach

New Member
I know it had to be done before, but how often? Has anyone ever sold a home without the buyer seeing the home for themselves in person?
Yes lots of people buy homes without seeing them first. I have sold many to my clients without them seeing it. People buy homes for different reasons. really it would depend on the nature of the investment. Is it a buy to Rent property? or is it a property you wish to occupy yourself?

If you are buying a property to invest why would you need to see the actual property IF:

1. You are buying from a trusted Developer with a clean track record of delivering on time an with quality?
2. The market you are investing in offers the investor full protection against any falsehoods, misconceptions and the like.
3. The numbers for Yields and Appreciation are attractive.
4. You see it in the brochures.
5. You get a rental guarantee from the developer
6. It is a cash flow positive investment.
7.ETC

I have personally bought 3 myself. Actually I started with one and now have three. I only paid 30% of the value of the first apartment and from that I now have three. Its how you grow your portfolio. The important thing is you work with reputable, regulated, audited companies that stake their reputation on the outcomes.
 
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mach

New Member
I have not personally but I know many who have - not sure why people would do it unless they literally planned to knock it down and start from scratch. Then again we are all different.
Because it MAKES THEM MONEY!! :) :)
 
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mach

New Member
Absolutely crazy - if you cant visit the property how would you expect to manage tenants, future sale, etc.
You don't do any of that. There is a way to invest in properties in markets that offer you FIRSTLY and most importantly protection over your equity and secondly great returns on your investment. They do everything for you, get you a mortgage, prepare the contracts, rent it out, maintenance etc. They even help with the resale.

Its actually very very profitable
 
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mach

New Member
It is an interesting question, why do mortgage companies not have something in the small print to say you need to have seen the property in person? I presume it is fear that they will lose business?

Lenders and mortgage providers are essentially lending you the money on the back of the property. They have confidence in the property itself. You cant pay them back? They just take the property which they already know is worth a lot more than they approved to loan out.
 
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mach

New Member
Tricky one, as when you take out a mortgage it is your responsibility to cover the payments.

Depends, what kind of mortgage it is. I can tell you with mine its an "Interest only mortgage" as the name would suggest you only pay the interest on the loan amount. You only pay the principle amount back when you exit and sell the property.

In addition to that, yes it is my responsibility to pay the interest on the mortgage, but if you make the right investment choice, you never have to... The person renting it does!!
 
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minustheAgent

New Member
Selling a property without the buyer seeing has more disadvantages than advantages. When you are selling a house, you have to make sure the buyer (or potential buyer) is clear of the sale details. You have to ensure a guaranteed sale by providing the ins and outs of the negotiation. Furthermore, it can be counter-productive to sell a house that way. If something goes badly with the property, the buyer (and now owner) can file a claim. So, it is not safe for either of the two sides to opt for a “blind sale”. The buyer should go to the place and give it a check personally. Besides that, he/she must ask the seller questions about the property on sale. The buyer must be driven into the house and given a short tour around the area. When you are buying a house, inspect it thoroughly and ask the owner to clarify your doubts.
 
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lookinginvest

Member
It is crazy to buy a property without seeing it first. What is the world coming to?

There could be a whole host of issues surrounding the property or even the area. Why take that chance?
 
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PostBrexitInvestor

Member
To be honest I would not even buy a new property without seeing it first - for me it is as much about the area as it is about the property itself.
 
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David K

New Member
I am searching for good property and fount something on Internet. There is a site which is showing some great Parc clematis bedroom price. It looks good to buy. Should I go for it or not.
 
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Dora Wi

Member
I also think the idea if selling a house without the buyer seeing it is strange. Even with virtual tour softwares, there are a lot of things that you can only check out in person, so if I was to buy I don't think I would be willing to do it without seeing the property for myself first.
 
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Freehold

New Member
That's strange, I don't know why do they do that. If you ask me then I will never buy a house without seeing it. That's a waste.
 
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zivakrealtygroup

New Member
Selling a home is like getting emotional, especially if it is the first one. Its important to meet the buyer to have a transparency before you make deal. To ensure no trouble between the buyer and seller in future, its better to meet the buyer in person.
 
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bhupinderbhatti

New Member
Yes, lots of people buying a house without seeing it. There are several reasons to buy a house.
During the Pandemic lots of people buying a house, because they don't have space to live. They don't want to be stuck in this kind of situation.
 
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