Buying Unseen

I wonder if anyone on this forum has bought property without seeing it. As a time-poor person, I'm considering this technique for further-flung property.
 
Sure have, though I sent a local friend to inspect the property who most likely new the area much better than me anyway.
I only asked 2 questions:
Would you live in that place?
A. Oh Yes
Would you live in that area?
B. Yes
 
Hi Rae,
I put a contract on three blocks of land in late 2008 using only google maps at Burnett heads and Bargara.

I did everything by email,just before cooling off,I drove up and had a look.
Didn't like the Burnett heads properties,pulled out of them and just kept the bargara one.

Houses are a little different,I believe someone trustworthy and with house knowledge must look for you before you commit,IMO :eek:
 
We bought a townhouse in SEQ last year and haven't seen it yet. Agent had plenty of photos, Google streetview had been past, and the B&P came up OK.

Other things that made us comfortable with the process:
- fairly new (3-4 yo)
- on site rental manager who also owns in the complex
- we had visited the area previously and had a rough idea of what it was like

But we'll go and see it next month. People who are more share-oriented would use the analogy; "would you go and look at BHP mines if you were going to invest in BHP? No, you only look at the numbers" The same could apply to a remote property.

I would be hesitant investing in an AREA that I had never visited, though!
 
re

Re

I believe its important that the property should be seen either by yourself or a trusted party (e.g. buyers agent, or relative), before you commit at least say 200 or 300 thousand on a property. Its for peace of mind, as photos can be very different from the reality.

Warrenkh.2010
 
The easiest thing to do would be to get an independent valuation done on the place.

It should reveal any real faults and let you know if you are paying the right price or thereabouts.

cheers

RightValue
 
I have purchased a number of properties sight unseen. Have used a valuer this company also provides building and pest reports, approx $1000 for the lot.

As far as handover goes make sure you have someone you can trust to do this on your behalf. With the purchase of one of my properties I was left with 3 trailer loads of rubbish that I had to dispose of. Live and learn.

My latest purchase is sight unseen, completed pest and building inspection all good. Bank valuation was good.

I pretty much do all the homework as far as the property goes, I look at block size and compare recent sales of similar property. I locate the sort after pockets. Find out if there is a school, hospital etc. across road, basically get as much info as possible and google etc.. Lots and lots of phone calls before I make a decision. So far it has worked well.

Cheers, MTR
 
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Hi,
We bought a place sight unseen in Rockhampton.
My brother in law lived in Rocky at the time, so we asked him to take a look. He said "I don't need to, I used to live there!".
So, we took that as a good omen and bought it.
We had taken a trip up some time earlier, and seen what areas we had wanted to purchase in, just to make sure we were looking in the right places,
Pen
 
Thanks for the feedback all.

MTR - would you mind advising the company you use that does valuations, pest and building inspections all in one? Rae
 
Not all BA actually view the property, they could actually be living in your State, if you are comfortable with this then fine, alternatively look for a BA who actually views the property, this will cost more though.

Cheers, MTR
 
Not all BA actually view the property, they could actually be living in your State, if you are comfortable with this then fine, alternatively look for a BA who actually views the property, this will cost more though.

Cheers, MTR

I would never consider using a BA who didn't physically inspect. That should be part of the service for any professional BA worth their salt!
 
I have done it before but wouldnt do it again .
There are just some things that you can only pick up being there at the property. You can then check out the street and areas at same time.
You may well find a better deal by being in the area yr self.

You are making a big purchase so take out a few hours and fly up there yrself IMHO !
 
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