Buying a house without seeing it may sound crazy, but it can be done! In fact, it can be a great way to find a deal in a completely new market! Learn more about how to do it in our latest post!
Extending the geographical boundaries of where you are willing to buy can be a game changer When you open your mind to investing in property outside of your immediate area, you make yourself privy to a wide number of deals you would have otherwise missed. To buy a house without seeing it will require you to do some homework and find people to work with whom you can trust. Keep reading to learn more about how to buy a house without seeing it in Chicago!
Hire A Representative
While an agent may be able to find you some great properties, their ultimate goal is to sell you the home to earn their commission. It’s business, but they may not always have your best interest in mind. If you can, hire someone you trust who can view the house on your behalf. Pay them a flat fee for an objective opinion of the property. They will be able to provide you with details about the property and neighborhood that you may not have been able to learn without being there for yourself.
Your representative can take videos, photos, and measurements on your behalf. In addition, they can help to inspect the house and neighborhood to help ensure the property is what you are after.
Don’t Rely On Photos Alone
If you don’t have someone available to do this for you, ask the representing agent or property owners for video of the property as opposed to just photos. Photos can be manipulated, edited, and angled just so to make the property look like something it’s not. A video will provide a much clearer picture of what you are actually getting into when buying a house without seeing it in Chicago.
Talk To The Neighbors
Talking to neighbors and people who actually live in the neighborhood where you want to buy can give you information you won’t find anywhere else. If it makes sense, reach to people in the neighborhood directly to ask their overall opinion of the area. You can find neighbors and community members via online groups and apps. Find a forum where you can post your questions and brace yourself to get a wide variety of different opinions. While it is up to you what and where you want to buy, getting some feedback from the locals can help you make a better choice.
Understand The Market
The real estate market may be very different in the area you are buying vs. the area in which you live. You might live in an area with a number of rental properties available, whereas the place you plan on buying has very few. You may have lots of students, families, or retirees, while the other area is home to different demographics. It’s important to know what’s going on in the market where you are buying, and not just find yourself relying on your knowledge of where you live.
Have The Right Team
When you are buying a house without seeling it in Chicago, you will be able to rely on the knowledge and ability of others around you. There are a few different people you should consider adding to your team. You’ll want to have a great attorney and accountant in your corner. You’ll need to have a contractor and landscaper you trust onhand to help maintain the property. You will need a title company, a moving company, and a professional seller on your team to make your purchase a successful one.
Create An Exit Strategy
If you decide to buy a house without seeling it in Chicago, you’ll need to know what to do if it turns out to be a bad investment. You don’t want to flounder around or have to come up with more money than you can afford. My having an exit plan in place, you’ll be able to buy the investment property you’ve had your eye on, while still having the peace of mind that you will be able to do something with the property if you need to.
Buying a house without seeing it in Chicago can be a bit of a gamble. But when you go in armed with the right information and the right team backing you up, you will be able to find and by a house in Chicago no matter where you live. If you are an out of state buyer who is thinking about making an investment in Chicago, get in touch with us to find out how we can help you.