Virtual Home Buying: Here’s How to Navigate the Process Successfully
Posted by : Admin
People have been shopping for homes online for years, but now they are purchasing them virtually, too. Buying a home without stepping a foot on the property would have once seemed ludicrous, but now it is commonplace. If you’re thinking about buying your next place virtually, make sure you follow these tips to navigate the process successfully.
Identify What You Want
“I’ll know it when I see it” isn’t going to cut it in this situation. You’re going to need a finite must-have list if you have any chance of successfully buying virtually. Choose a handful of must-have amenities and communicate those specifically to your agent. Speaking of…
Pick an Experienced Real Estate Agent
Your agent will essentially be your eyes and ears during this process. Find one who comes highly recommended, preferably someone who specializes in relocation. During the interview process, ask them how many homes they’ve sold virtually in the past 18 months. The higher the number, the more likely they’re a smart choice.
Get Pre-Approved for Your Loan
Know how much money you can afford to spend on a home, and tear down another barrier in the negotiation process by getting pre-approved for your mortgage. This shows the seller you’re serious about purchasing their home, even if you’re a state or country away. Send all the documentation to your real estate agent to use when you decide to make an offer.
Work With a Loan Officer You Trust
Find a reputable loan officer who responds quickly to your questions. They will be key in ensuring you have the right mortgage loan for your purchase and getting everything set up for you to make an offer when you virtually find the home you want to purchase.
Learn How to Use a Video App
Get your technology hat on and download Zoom or another video app. When your real estate agent is at the home, have them show you around. Focus on the must-haves first, but see if you can get a feel for the space, how it flows, and what may need to be repaired or replaced. Tour inside and outside while you’re on the call before moving forward.
Visit Google Street
Go online, find the home’s address, and “walk” the neighborhood. Are the yards well-kept? Is the home located on a good street? Do you see any annoyances, like a railroad track or steep hill? Doing this gives you a feel of where you may be living beyond just the home in question.
Buying a home virtually can seem impossible, but it can be simple if you prepare. Know what you want in a home, and find people you can trust to act as your real estate agent and loan officer. Finally, welcome in some technology tools to help with your research and decision. Do all these, and you may be walking into your home for the first time on closing day!
