Home For Sale

Are Buyers Buying Sight Unseen?

Not Quite, But

For Higher end rental investments properties, there are reports that a few agents have closed deals where the buyer purchased sight unseen.  This is largely due to the buyer wanting a way to put their money into real estate.

Then, there are the closings where buyers had previously looked at properties, before the coronavirus pandemic, and decide to go ahead and proceed with the purchase.

And, you also have closings where the buyers did the online virtual tours, then arranged for a private viewing of the property, by putting down a deposit before the viewing to show they were serious about making the purchase.

And lastly, there are buyers who watch the online virtual tours, then find open houses to check out the property.

So, virtual tours are playing a bigger role is helping home buyers to view homes and to narrow down their options.  However, thus far most people want to check out the house before they buy it.