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Buyers purchasing homes sight unseen

After selling real estate for more than thirty years, I love firsts! Earlier this year, I listed an Orange Grove condo. The buyer purchased it without ever viewing it in person. I have heard of buyers purchasing homes sight unseen, but until this year have not experienced it first hand.

Buyers purchasing homes sight unseen

This listing had been on the market for several weeks without an offer. So when this full price offer arrived it was a relief. The buyer was from out of state and had a new job in Los Angeles. He intended to fly out for the inspection to view his purchase but COVID spiked, and travel didn’t seem wise. He and his real estate agent facetimed the initial viewing, the inspection and the final walk through.

There was a lot of trepidation on both sides. The seller and I were both apprehensive about the buyer purchasing the home sight unseen. Online is one thing but there is nothing like an in person viewing. After the buyer opted to not fly out for the final inspection, contingencies were removed. At this point the buyer’s 3% earnest money deposit was at risk. But in real estate nothing is that simple. In order for the seller to keep the deposit, he would have had to go to mediation.

Appointments to sign the loan documents were cancelled and delayed. I had some sleepless nights.  Until the buyer’s final down payment was in escrow I was concerned about closing.  But we closed and I am sleeping soundly again.

One thought on “Buyers purchasing homes sight unseen

  1. Carrie says:

    Covid or no this is just plain crazy! I could never do that.

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