Many potential homebuyers are short on time but rich with confidence.
A Redfin survey found that 19 percent of people who bought or sold a home in the past year made a bid on a home before viewing it in person. The rate was actually down from 21 percent last year.
While it can be a risky proposition, sometimes it can be the only way to secure a property in a hot housing market. The site told the story of a Alaska man who closed on a condo in Denver. He didn’t have the time to arrange for travel, so he trusted the sellers’ photographs and the condo’s Homeowners Association reputation, and he toured the home via a Facetime chat with a Redfin agent.
When possible, many buyers will send a friend or family member to tour the home in their place before making an offer. Real Estate agent Karla Kirkpatrick-Adams advises having an inspection and including an inspection contingency in the offer, if possible. The agent or inspector can video stream the inspection so that the buyer can follow along and ask questions and feel confident that they know about any issues or problems with the home. The inspection contingency and other contingencies provide an “out” for buyers should they find something out about the home that makes them not want to move forward with the purchase.