Selling a home without a buyer seeing it in person

Discussion in 'General Property Investment Discussion' started by Omile Joana, Sep 14, 2019.

  1. Omile Joana

    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?
     
  2. lookinginvest

    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.
     
  3. Longterminvestor

    Longterminvestor Administrator

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

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

    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?
     
  7. mach

    mach New Member

    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.
     
  8. mach

    mach New Member

    Because it MAKES THEM MONEY!! :) :)
     
  9. mach

    mach New Member

    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
     
  10. mach

    mach New Member


    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.
     
  11. mach

    mach New Member


    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!!
     
  12. minustheAgent

    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.
     
  13. lookinginvest

    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?
     
  14. 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.
     
  15. David K

    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.
     
  16. FWL

    FWL Member

    Have you seen the property in person @David K ?
     
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