The lack of available homes for sale is creating a tough market, and in some cases home buyers are making offers on homes they haven't even seen!
- Buying homes sight unseen is a small but growing trend in some areas,even in the rental market. This is brought on by the advanced technology and competative market.
- Buyers might make offers without seeing a house for several reasons: They live elsewhere or for business and even for personal reasons. The buyers may have had scheduling conflicts and couldn’t visit before bids were due or they’re investors are use to buying just based on the characteristics of the property.
- Even though some buyers are making offers without seeing the properties, they’re not going in blind. With the extensive photos and video tours, plenty of websites offer the buyers opportunities to learn about the neighborhoods, schools and research all comparable sales.
- Those who bid sight unseen have the chance to tour the house during escrow
and can still cancel the deal. Courthouse auctions
that are in the final stage of the foreclosure process do not offer a chance
to see properties in advance, nor is there an inspection period.