I have never done this before, and I must confess I am a bit afraid. I have spotted the ideal home for my hubby and our dogs and after seeing pictures of the interior and exterior we are making an offer. This home is out of state and we are paying cash for it after years of saving money. The home is perfectly livable and being sold for a bargain. It might need the roof replaced soon but seems ok for another year or two. I am wondering if anybody else has ever bought a home over the internet without physically seeing it. It seems that more and more realtors are selling this way. I have gathered all the info by looking at pictures and at google maps and city data. I know about the risks but this will be our vacation home where we may eventually move into later on.
Never, ever, ever buy without actually seeing the home! There are a lot of things that can be done and pictures can easily be manipulated in virtual tours. You have to go and see the house before you buy!
It is worth the extra bucks to see the home in person. We were very much interested in a home that we saw on historicproperties.com and when we went in person, we noticed that he super huge walmart was just a block down the street one way and down the other way were delapadated homes. Glad we didn't buy "virtually". Beautiful home, lousey location.
You can receive alot of information on a property through electronic exchange. If you are interested in moving to a certain area, this can be a big benefit. I still would plan a visit to see the property before actually signing an agreement of sale.
I don't think I would sign a bill of sell sight unseen. However, if you choose to do this, hire your own inspector to come look the house over before making an offer. Typically this will cost around $300 the last time I needed one.
Buying a home virtually
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