Sight unseen real estate deals are more common in Texas than many potential market participants understand. These sales often involve high-end real estate or buyers in search of rental investments. Agents and other people interested in selling real estate sight unseen can take a few measures to calm the fears of potential buyers.
Develop floor plans
Real estate law professionals suggest publishing a floor plan to allow potential buyers who are unable to visit a property to get a good feel for its layout. Buyers will also receive information regarding the size of each room.
Virtual tours
A three-dimensional virtual tour can cause a potential buyer to feel as if they have been inside of a property when they have been nowhere close to the building. Sellers of new homes have been using 3D walkthroughs for years to sell new constructions, and this technology is also useful for individuals with existing properties to sell. A virtual tour will allow a potential buyer to take a look inside rooms, closets and other features of a house.
Provide information
Buyers will feel more confident in a sight-unseen purchase when they feel knowledgeable about the area where the property exists. Sellers should provide potential buyers with links to reputable sites like the Department of U.S. Data that will provide them with relevant statistical information.
Contingency period
A contingency period will allow buyers time to inspect a property after they make an offer. Sellers can specify the length of the contingency period in the contract, and buyers can reenter negotiations during the contingency period if they discover a need for repairs. There is also an option to cancel the offer during the contingency period.
Selling real estate sight unseen is not such a complicated process when sellers take extra measures to address the concerns of potential buyers. Individuals involved with buying and selling real estate may benefit from the guidance of a real estate attorney.
