HI
Can people please give me advise on buying property unseen. Obviously there are dangers in doing this. Has anyone done it etc. reason asking is if you plan to buy property all over australia the world you can not really visit every location when you want to buy a new property.
any help is appreciated
Here’s the advice you need – in one word.
DON’T
Bec
If you purchase your own lear jet the travelling isn’t half the ordeal it usually is. Having said that, for national purchasing excursions it’s often nice to get about the slow way, and for that I recommend the Ferrari 550 Maranello or the Porsche 959.
Cheers, Julian.I have bought 3 sight unseen but in saying that theagent that i have in that area is great. He knows what we are after and he calls and i say yes and as i am in that area once a month i then get to check them out and every time they have been fine. he even gets the pest & building reports done by the time i am there. One that he got me is a monty as the bank was ready to forclose on this guy and i got the deal thru before it happened and we got it valued and it came in 65000gs more than what we paid!! Needless to say we love our agent!! So it can be done if you have the right person in that spot but only then. I like the idea of the lear jet to do it!!!
DON’TWhy not?! The best property I’ve ever purchased was one that I bought unseen
…of course, I’ve only ever bought one property.
Hi,
I’m about to purchase two ‘sight unseen’ properties, the easiest way to do it is to have someone you trust (agent, friend, family) in that area to do some due dilligence for you. It’s up to you how you thank that certain someone, I’m going with a nice bottle of red.
good luck,
itsamooreyOne of these days i’m going to put a good, funny, witty comment here.
Hi pmaurice,
Have bought a few unsighted and unseen, not too worried and honestly have no sweat or stress off my back.
In doing so, had a great agent, just like Chefmans agent, who organised everything. Even to this date, i have only seen pictures of some of the properties.
Since then, had no problems and even my bank manager, says they were an excellent buy to, as the selling price, was so much lower than the actual valuation.
Chefman, maybe you and i, both have the same real estate agent……
cheers,
s.i.sHi,
(post moved)
Because you don’t know what you don’t know… and what you don’t know more than likely will cost you money!
If you can’t do it, then you need to pay someone to do the due diligence on your behalf.
I wouldn’t recommend buying sight-unseen until you have a system developed and a reputation of success based on previous actual experience.
Cheers,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Here’s the advice you need – in one word.DON’T
Bec
Anyoe will think I am a Bec fan but i must say i agree and say a big DON’T You dont know what you dont see!I would also say don`t do it.
There are numerous things which could completely turn you off the property.
Many may succeed but one at the wrong time could be a big problem.I wouldn’t do it. any mistake casuse you a great loss. Of cousre, it’s OK,but……, If you don’t mind.
[8D]
JulianI wouldn’t do it. any mistake casuse you a great loss. Of cousre, it’s OK,but……, If you don’t mind.
[8D]
JulianAnd what’s so shameful about being a “Bec fan”?
Hey, just because many of my comments get censored, edited, deleted doesn’t make me unworthy of a fan club, surely?
Bottom line in the sight unseen point is this – Unless you know someone whose advice you value with total and undoubted confidence, don’t do it.
See ya (or should that be See yaz?)
Bec
Have done it twice. Relied on photos for screening and then the formal inspections etc for more detail. Would do it again.
There’s one of the authors (not sure who, may be Anita Bell???) who mentioned in her book that it was OK to buy unseen if you have inspections done. I’m glad to hear that Rubbachook and SIS have done it without problems, ’cause it’s very tempting!
Still…. something to think about…
My husband probably would not buy site unseen whereas I would consider it.Hi Celivia,
Maybe you should get your husband to do that Risk Analysis Course, once doing that, you will look at risk from a differnet direction and your temptation will drive you to purchase more properties.
Its a suggestion, but a course worth while.
cheers,
s.i.sI bought my last two properties sight unseen. Just saw one of them for the first time over the holidays actually- very pleased with it. I’ve seen the other one too, and am similarly happy.
If you work full-time and you see a bargain, are you going to pass it by because you can’t actually view it? Many people just go into a place and glance around at it generally and ok it. Whereas I ask the RE agent a large number of questions and ask further questions as he or she answers the first ones.
As a worker, I am limited in my leisure time- and I have a limnited interest in making all my holidays go simply on viewing properties in far away towns!
The internet is a blissful way of purchasing properties all over australia- go for it, I say :o)
kay henry
Everything is fine ………….. until one buys a cat in the bag.
Who do you blame ?
Pisces133
Well Pisces, one shouldn’t be “blaming” anyone for one’s own property/investment decisions. It’s a matter of taking personal responsibility- not blaming others.
kay henry
Hi Guys,
I agree with Kay, we need to take responsibility for our own mistakes. If you are going to invest in property, you should expect to make mistakes along the way. You will learn more from your mistakes than your successes.
Quite a few investors buy their houses sight unseen, I would certainly do it, after much research, but as with Celivia, my husband would probably not be comfortable with it.
Margaret Lomas also advocates buying sight unseen in her books.
Cheers,
Sue []“Be careful not to step on the flowers when you’re reaching for the stars”
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