The other day my buddy Paul stopped by for some burgers and beers and he told me that he received a job offer from a company located in London, and he’s seriously considering taking it. He’s already been to the UK a few times for vacation and he always said he’d like to live there someday.
Since he’ll need a place to stay if he decides to accept the offer he’s been busy looking at online flat auctions (apartments for those of us on the American side of the pond) at sites like Zoopla.
What surprised me was when he handed me a Guinness and told me that he wasn’t just looking at apartments…he might actually buy a house online!
I can’t imagine buying a home without having a chance to give it a walk through and look for problems or potential issues. Pictures are great and all but they can also be deceiving.
Now on their website Zoopla does make it clear they expect you to view and inspect properties before bidding on them, but Paul would be bidding without ever seeing it in person.
Personally I think he’s nuts, but Paul seems ok with it.
What do you think? Would you use online property auctions to find and purchase a house without ever actually seeing it in person?
{ 13 comments… read them below or add one }
I’ve rented an apartment based on pictures only (and after two years I am still living in it), but buying – I think that would be a bit too big a step for me!
Lumi´s last blog ..Grey Silver Strand Shawl aka the Grey Monster
No way would I buy a home online from online pictures and video only. There’s so much you can’t see including the neighborhood, how light is it in the home, etc.
Hell no, not unless I was gonna try to flip it the same way.
Dennis Edell | Direct Sales Marketing´s last blog ..Less is More – Here’s My Current To-Do List
I almost did it! When we moved about 7 years ago, there was only 1 house we liked in the entire area. We saw the house on line, placed an offer, contingent on seeing the home (along with a few other items). We’re still in the home today!
Best regards, Barb
Barb Friedberg´s last blog ..CATFIGHT OF PERSONAL FINANCE BLOGGER CHICKS-Bring it on!
I could never, ever buy a home for myself without seeing it first. However, if I was investing in a rental property and my business partner (if one existed) saw it, I would trust them.
I know some people have to operate like this if they have to go overseas. But that would scare me to death.
Everyday Tips´s last blog ..Frugal Gone Bad: When Saving Money Isn’t Worth It
I could never offer to buy a house site unseen – unless – there were plenty of pictures available, that someone i Know and trust was able to view it, and a purchase was contingent upon a good inspection of the home.
In the ideal situation though – never.
Money Smarts´s last blog ..How Much Money Are You Saving In Your Emergency Fund? Have You Ever Had To Use It?
I would never buy before seeing b/c images are deceiving.
Only if it’s a condo in a building full of similar condos would I consider mate!
Sam
Financial Samurai´s last blog ..East Coast Living – Is It Really That Bad?
No, I wouldn’t. Paul is nuts.
My dad wouldn’t even rent a house in Holland until he saw it. We ended up having a really great house – way better than the one they were interested in online (that had almost no yard and was in a bad neighborhood).
My house is what I wake up to every morning and gratefully go home to every evening…I wouldn’t trust that to pictures.
I’m definitely in the “No” crowd on this one.
I base my experience on vacation! Once year we rented a cabin for more than a few hundred dollars for a weekend. It cost a premium over some of the other, but once we got down there, we realized that while the pictures was legit, it made the workmanship of the cabin appear much better than it real was!
There is no way I would buy a house without checking it out first!
Money Reasons´s last blog ..Red Box Review
Well, there are certain situations in life, when buying a property online may be the best option. If you can get pile of excellent pictures, video walktrough, independent inspection – why not? But it is just a niche market, and I believe it will remain niche for many years more.
Elli Davis´s last blog ..Decline in Housing Starts
Absolutely not! In fact, we looked at our current home 2-3 times before even putting in a bid. Plus, there are always going to be inspection issues that come up — things that should be addressed before you close on a home. It’s too risky to do otherwise, IMHO.
Rainy-Day Saver´s last blog ..Fix-It Friday: A Little Bit of This, A Little Bit of That
I think it depends on the situation but in most cases Id have to say no especially if the home needs to be inspected. On the other hand buying preconstruction off plan is essential the same thing…
Lets put it like this. A fool and his money are parted.