Is it possible? 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?
This never happens in a retail sale, but often in a wholesale transaction. Especially with investors that deal across state lines, and have representation on the ground.
Otherwise, we’re talking fixers.
I’ve never retailed a house, sight unseen, to a buyer (or one whose not physically been in the property). I’ve certainly had flakes call me up and tell me they’ll buy as-is, sight unseen, and then flake out on me, thus defining themselves as ‘flakes.’ There’s that.
FWIW
Yes, it happens if the buyer is living far away from the home. In such case, a buyer hires a professional and trustworthy real estate agent. The agent visits the home and conducts a home inspection to know all the hidden damages. Thereafter, the seller sales the home.
One thing we are working on right now is packaging our properties with better marketing material, trying to make sure we get solid photos and video on the first walkthrough so we can streamline the process as best as possible, and even more so for OOS investors. That way we are not only trying to be trusting individuals with those who are buying sight unseen, but we are also adding a layer of comfort with the more information and clearer materials we show. With that being said, we haven’t sold many properties to date sight unseen. So it’s definitely possible but a more difficult process. We have found it most successful so far with investors that we have a great relationship and experience with.
Yes, it usually happens when house owners are not present because they already moved to a different state and other reasons. You just need a middleman such as an agent or any real estate professional.
Yes, this happens quite often. The buyer just needs to hire an agent (maybe) and/or an inspector who inspects the property for them. The information they get will be pretty accurate to make their decision.