Gustan Cho The Mortgage Expert,
Publish On: July 27, 2020
- As a prior real estate investor, most of the investment homes I purchased to flip and/or to rent were sight-unseen
- Many professional real estate investors with working relationships with realtors have the realtor inspect the property and put in an offer
- Some realtors will purchase homes for their investors sight-unseen if they trust the sellers and/or seller’s realtors
- However, it is different from owner-occupant homes
- You can still buy a home out of state sight unseen
- However, proper due diligence should be practiced
- Photos can be deceiving
- However, videos cannot be deceiving
- With state of the art technology and virtual open houses, more homebuyers are buying out of state homes online sight-unseen
- Real estate analysts and economists believe more online home shopping sight unseen will become more popular
- It will be similar shopping for a car online in a different state
In this article, we will discuss and cover Buying Out Of State Homes Online Sight-Unseen Purchases.
Buying Out Of State Homes Online In A Virtual World
- This holds true for members of the U.S. military in deployment
- Active-duty soldiers in need to shop for a home so their home is ready when they return can now shop for a home and not wait until they return to the U.S.
- Retired homebuyers looking to retire out of state do not have to visit each state and shop for a home in person
- They can shop online and have the option to explore homes in various states
- If a certain home strikes them, they can ask for more photos and/or videos
- If a home is the perfect home and has multiple offers, they can negotiate online and purchase the home without seeing it
- Technology in the housing industry is making it easier for homebuyers to shop for homes online
- Homebuyers can hire real estate agents and loan officers online
- It is easy to research the reputation of real estate agents and loan officers through websites like Realtor.com, Zillow.com, Yelp, YouTube.com, and other online professional review sites
- Buyers buying a home virtually will tour homes remotely
- Homebuyers can enter into a home purchase contract, obtain a mortgage, get a home inspection, go through the mortgage process, and close on your home remotely
- Due to high-tech technology, video conferencing, and online e-signatures, the entire home buying and mortgage process can be done remotely
- Homebuyers can tour homes remotely around their schedule versus making an appointment and visiting the property
Remote home buying enables a lot of time savings for homebuyers. This holds true if the property is in another state.
What Experts Say About Buying Out Of State Homes Online
Jammi Cash of Gustan Cho Associates and is a licensed mortgage loan originator licensed in multiple states. Most of Jammi Cash’s clients are virtual remote online home buyers.
Importance Of Home Inspections
- However, it is highly recommended all homebuyers invest in getting a home inspection
- Homebuyers who are purchasing a home out of state sight unseen should definitely hire an experienced reputable home inspector
The Future Of Remote Virtual Online Home Closings
Virtual online digital home closings are becoming more and more popular. Whoever thought that people can purchase cars online. Now, a large percentage of auto buyers purchase their cars online. This holds true on used cars. The whole auto buying process is virtual and online. This even holds true with applying for an auto loan. The home buying and mortgage process is turning more digital. The remote home buying and mortgage process is making the home buying process much easier and more convenient. Not too long ago, most mortgage borrowers needed to visit a brick and mortar office of the lender to complete and turn in mortgage documents. Now, most lenders are online lenders and the entire mortgage process is virtual and online.
