Buying sight unseen generally isn’t a recommended approach when it comes to property, however for those without other options there are ways to minimise its risks.
There’s no questioning that it’s best to see a property in person before making a purchase if you can, but if you see an opportunity you don’t want to miss out on and you can’t visit the property in person then there are a few things you should do.
Luckily, there are a variety of online tools that are making it easier than ever to find out about properties without having to step a foot inside.
There is listing photos, floor plans, online property reports, Google street view and, depending on the property, there may even be virtual walkthroughs available.
Find out as much as you can online to help you decide whether a property is right for you, but also be mindful that not everything online is always what it seems, so don’t use online research alone.
Find someone to inspect the property on your behalf
If you can’t inspect the property yourself then find someone else who can, whether it’s a buyer’s agent or a trusted friend. It’s always a good idea to get a second or third opinion on a property and have somebody on the ground that can take photos or videos for you.
Get an independent valuation and building and pest report done
While you should always aim to get an independent valuation and building and pest inspection carried out before buying, it’s especially important if you haven’t been able to see a property in person.
A building and pest inspection in particular will help ensure that there are no nasty surprises after you buy.
Be wary with established properties
If you’re purchasing off the plan then there won’t be much to see before buying anyhow.
When you’re buying brand new there shouldn’t be too many hidden surprises, and any issues with the property itself will hopefully be covered under warranties. Just make sure you’re fully aware when in these circumstances of everything that is included.
When it comes to an established property on the other hand, you often don’t know what you’re getting and it can be harder to tell the quality of the building without seeing it in person, so you really need to do a lot more research and have a trusted person who can see the property for you.
Always do as much research as possible
When it comes to any property, sight unseen or not, you should always carry out your own due diligence and ensure that it’s the right purchase for you. Every situation is different so only you will know whether or not buying sight unseen is a necessary risk for you.
If you would like to discuss buying any properties in outer western Sydney then get in touch with one of the team at Professionals Outer Western Sydney.