A Comprehensive Guide to Buying a Property 'Sight Unseen'

Owning a property is a significant milestone, and the process usually involves a great deal of planning and research. However, in some cases, you may consider purchasing a property without viewing it first. While we would always recommend inspecting the property in person, the practice of remote buying is becoming increasingly common, especially in today's digital age.

This article will provide an extensive guide on navigating this process, highlighting the potential risks and strategies to mitigate them, ensuring you make an informed decision when buying a property.

Understanding Sight Unseen Purchases

When we refer to buying a house as "sight unseen," we mean purchasing a property without you physically viewing it first. You may rely on photographs, video clips, virtual tours, and comprehensive research into the property and its surroundings.

When to Consider Buying a House Without Viewing

There are several situations where you might consider buying a house without viewing it in person. For instance, if you are relocating to a different part of the country or even internationally, it might be challenging or impractical to visit properties in person. You may also consider this option if you're dealing with a highly competitive housing market and must act quickly to secure a property. Another case could be if you're a confident property investor looking to outbid competitors.

Risks Involved

There are several risks associated with buying a house without viewing it first. The primary concern is the unknown condition of the property. Misrepresentation in online photos and descriptions can also be problematic, potentially leading to unexpected issues post-purchase. Furthermore, unfamiliarity with local housing market dynamics can result in overpayment or missed opportunities. Visiting a property in person can also provide valuable insights into neighbouring properties, the locality, and other factors that may not be apparent with virtual viewing and may affect your buying decision.  

Strategies to Protect Yourself

To navigate the risks associated with buying a house without viewing it, it's crucial to adopt strategic approaches. Thorough research, utilising technology effectively, enlisting the help of local contacts, and commissioning a comprehensive property survey are just a few ways to safeguard your investment.

Caveat Emptor – Buyer Beware

You may have heard of the phrase "Caveat Emptor", meaning buyer beware, and it is crucial to understand that this is still the legal position. There is no implied warranty on the part of a seller as to the condition of a property, and it is vitally important that you have a survey of the property carried out by a qualified surveyor registered with the Royal Institute of Chartered Surveyors before proceeding to exchange of contracts. There will be no recourse against a seller if you find defects in the property after exchanging contracts. 

It is also important to note that relying on a mortgage valuation alone is not wise. A mortgage valuation is not a survey of the property but only a superficial view of the property purely for the benefit of your mortgage lender. Sometimes, mortgage valuations are not even carried out in person.  

The Role of a Skilled Real Estate Agent

One of the most critical steps when buying a house sight unseen is choosing a reliable and experienced real estate agent. Your agent will be your boots on the ground, providing detailed local information, conducting video tours, and helping you calculate the risks associated with the property. Finding a tech-savvy agent knowledgeable about the local market and comfortable with negotiation is essential.

Virtual Property Tours: A Game Changer

Technological advancements have made virtual property tours a game-changer in the real estate industry. They allow you to have an interactive experience while touring the property from the comfort of your own home. However, it's crucial to remember that no matter how high-quality the virtual tour is, it can only partially replicate the experience of physically being in the property.

Making an Offer on a Sight Unseen Property

Once satisfied with the property's condition based on the information available, you can proceed to make an offer. This process is similar to a traditional property purchase, but it's crucial to rely on contingencies that require specific criteria to be met before finalising the deal.

Pros and Cons of Buying a House Without Viewing

Buying a house sight unseen has pros and cons. On the plus side, it offers a quick and convenient way to view and purchase property, which can be advantageous in a competitive market. On the downside, not physically viewing the property can involve risks, such as potential structural issues and a lack of familiarity with the local area.

In conclusion, while buying a house sight unseen can be a viable option in certain circumstances, it's essential to understand the risks involved and take measures to mitigate them. It's important to note that conveyancing law and estate agency practices vary between the jurisdictions of the UK, including England and Wales, Scotland and Northern Ireland. By doing your research, working with a skilled estate agent, and taking advantage of technology, you can navigate this process successfully. However, seeking professional advice before making a significant decision is always advisable.

For additional guidance and support regarding property purchases, please contact our Residential Conveyancing team on 01329 288121 or via email at enquiries@warnergoodman.co.uk.