By Nicole Foster, Broker/ REALTOR
Markets with low inventory and high demand have been
experiencing an uptick to the number of offers being placed on homes “sight
unseen” during the pandemic and some are speculating this trend is here to
stay. All indications show that consumers have become more comfortable with the
widespread use of technology which may have helped to shift attitudes and
increase confidence in the process of buying and selling homes remotely. The speed at which the current market is
moving has likely been the main contributing factor for the sharp increase,
with the combination of record low mortgage interest rates and limited
inventory forcing buyers to move swiftly to get into certain areas.
Over the years and during different markets I have represented
buyers who did not see their (already existing) new home at all until the
building inspection or during their final walk through and as a listing agent
I’ve sold homes to buyers who were unable to view the home before making their
offer. It has not been a rare occurrence
and there are a number of circumstances which may result in placing an offer on
a home that you have not yet personally visited including a relocation with
travel, working opposite shifts from your partner or spouse so you cannot both
visit or simply not being able to make yourself available while limited showings
are being held.
Ideally most people prefer to have the opportunity to step
inside of a home personally at least once before making such a large financial
decision, but what if you can’t?
Choosing the right buyer agent to act as your “Boots On The Ground”
will be possibly be your most critical decision to get the home you need. An
experienced broker will be able to connect you with a reliable and efficient
team of local professional as needed through the process from showings to
beyond the closing. Take the time to ask others you know in the area who they
have had positive first-hand experiences with. Talk to several REALTORS and
research their business. Make certain they are proficient using today’s
technology including 3D tours and video conferencing as well as working with
clients who are relocating or buying from a distance. Ask if they will be
available to remotely view properties of interest with you in a moment’s notice,
especially when looking in a competitive market. Inquire if they have any
upcoming vacations scheduled and who will be providing coverage for them while they
are away.
Make yourself familiar the neighborhood and area by
researching deciding factors such as crime, commute times, school districts and
distances to amenities like shopping or recreation. Check with the municipality
for any upcoming plans for tax increases, ordinance changes or growth
surrounding the property of interest. Check distances to industry, mining,
farming operations, transportation (highway, air traffic or train tracks) high
voltage stations and other possible disturbances. Determine to the best of your
ability the type and volume of traffic your road has, what the speed limit is
and who maintains it. If you have a friend or family member who is close enough
to visit the property with your agent or is willing to visit at different times
of day they will be able to provide helpful feedback, also.
When virtually touring the property with your buyer agent
inquire about specific features that photos can often times show differently
than in person. Have the cabinets been visibly painted or do they appear to be
original? If the home has been freshly painted or has upgrades, does the work
appear to be quality? Are any of the sinks, toilets or showers stained? Do the
windowpanes appear foggy or cracked or is there flaking paint around the trim?
What do you hear outdoors? Do you smell any odors outdoors or indoors? Are
there any creaks in the floors, stairs, doors, or cabinets? What do the
neighboring homes, yards and driveways contain and how close are they?
If you are a seller working with an offer from a buyer who has
not yet viewed the home, you may feel skeptical, but in my personal experience
and observations there has been no correlation between “buyer remorse” and
sight unseen offers and it doesn’t necessarily mean the contract will be
“shaky”.
Nicole
Foster is a Broker with Locations Real Estate Group and a Windham resident who
loves people and real estate. <
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