A new Redfin survey says that 1 in 3 Make Offers on Homes Sight Unseen? We find that fascinating. Is it true? Is this what you’re seeing?
CLICK HERE to see the survey article.
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We are seeing a lot of that in Middle Tennesse as homes are selling the day they hit the market and if the buyer waits until they get off of work the property is sold.
Been selling for 24 years and I’ve never had someone write an offer sight unseen
It’s definitely true that we are seeing loans from people that are buying site unseen, however there are a lot of details to that statement that are not being stated. There are typically tons of online photos when this is done, and thus far every time I have had this happen it has been that a family member, friend, or even a professional views the home for the buyer and takes specific photos of things in question. There are even services being offered for people to do a live video walk through. I have not seen anyone yet buy a home just based on price alone and no other info or photos. To be honest I just did it myself as I was relocating. We found the home online, scoured the photos, called with lots of questions, had a friend drop by the home and video the neighborhood….and deal done. It worked out very well for us.
I took a minute to read the full article and I hardly think 3350 people in 11 metro areas represents a trend in the housing market.
Here’s another twist, A better question would be how many of these offers without seeing actually closed without seeing. I have had clients authorize their Realtors to make an offer but there’s usually an inspection period in which the client inspects the property if their offer is accepted. In Florida, we get retirees and vacation home buyers in other states who don’t want to fly down every time a home comes on the market but will come down if the offer is accepted and look at it during the inspection period.
people are getting crazy!!!!!!!!!!!!!!!!!!!!
The survey was regarding OFFERS. BUT take this one step farther into a signed PSA and the risk still is miniscule because there are several contingencies that make it easy to get out of a PSA if the buyer wants out.