Buying a house on the internet

roybean · 08-17-2006, 09:03 PM

I know of two families that just bought homes via the internet. #1 bought an excellent house and #2, I don't know because I haven't heard from them since they moved. What do we know about buying on the internet?

Hedwig · 08-17-2006, 09:06 PM

I don't know. I might look on the internet to get ideas and find houses I wanted to look at, but I would never buy a house without going there and seeing it in person. It's too easy to hide things in pictures.

centex · 08-17-2006, 09:07 PM

I'm not quite sure what you mean by buying on the internet...do you mean they bid based on pictures alone or that everything went through an online broker which should ostensibly cut the commissions?

If the former, I would not be inclined to try and go that route...houses are too much money to go on pics alone. I'm crawling over every inch of that puppy before I put a bid in...

If the latter, but you can at least get someone to let you and your appraisal people on the property, then it is worth looking at...but do lots of background checking on the broker.

roybean · 08-17-2006, 10:08 PM

Both familes that I know of bought their homes without setting foot inside it and it was a long distance purchase. One was in the U.S. and the ones that I haven't heard from bought theirs in Canada. The couple who bought in Canada saw less than a dozen photos, the other home buyer bought a great home that's large, lots of land, and all the comforts included.

jlynn · 08-17-2006, 10:19 PM

Speaking as an ex real estate agent, the thought of that gives me cold shivers.

A picture is NOT worth 1000 words when it comes to what is probably the largest single investment of your life.

What about home inspections? Viewing the entire neighborhood? (yes you do buy your neighbors as well

? Access to main roads, the list goes on...

I'm glad to know your friends had great luck - but it is just a scary thing.

roybean · 08-17-2006, 10:26 PM

Quote:

Originally Posted by jlynn

Speaking as an ex real estate agent, the thought of that gives me cold shivers.

A picture is NOT worth 1000 words when it comes to what is probably the largest single investment of your life.

What about home inspections? Viewing the entire neighborhood? (yes you do buy your neighbors as well

? Access to main roads, the list goes on...

I'm glad to know your friends had great luck - but it is just a scary thing.

I agree which is why I wanted to know what other people think. Now, as I said, I haven't heard from the ones who bought in Canada. Hope that's not a bad sign, but if it were me, I'd wanna look at every nook and cranny in the house. I'd be afraid to even hire someone long distance to make sure everything is ok, because you never know. However, I several friends who are all talking about buying on the internet.

Gib · 08-17-2006, 10:50 PM

All I can say is....damn. I can't believe someone would do such a thing, although a lot of it went on here during the past couple of years. While those who bought 2-3 years ago probably made out like bandits, those who bought last year are holding the bag now. There is a difference between investing and speculating.

I know this doesn't address the specific situation you are referring to, just ruminating.

I'd never buy a house sight unseen.

Hedwig · 08-18-2006, 01:40 AM

Quote:

Originally Posted by Gib

I'd never buy a house sight unseen.

Nor would I.

roybean · 08-18-2006, 01:56 AM

Yet, more and more people are doing it.
Here is an article I saved.

Qtip · 08-18-2006, 11:22 AM

Kind of scarry, buying something so expensive without setting foot in the house first.

ilovemydogs · 08-18-2006, 11:28 AM

Quote:

Originally Posted by roybean

I know of two families that just bought homes via the internet. #1 bought an excellent house and #2, I don't know because I haven't heard from them since they moved. What do we know about buying on the internet?

I bought a camp 20 years ago in Maine out of an add(not on the internet but I did not go view it)
I sold it this past January for a nice little profit.
I did buy a VOLVO for my daughter on eBay this year just by me asking ?'s and viewing pics, and it is a SUPER car, VERY PLEASED with my purchase.
So I can see that buying a home in the internet might bt a good thing and the wave of the future.
ILMD

rikers1 · 08-24-2006, 10:54 AM

If anyone is interested I have some swamp land her in Florida I'm willing to let go cheep see my e-bay add.

centex · 08-24-2006, 11:18 AM

Quote:

Originally Posted by ilovemydogs

So I can see that buying a home in the internet might bt a good thing and the wave of the future.
ILMD

It would make it easier to sell a house with significant slab damage...just photoshop those sheetrock cracks and gouges out of the way and there ya go...

I simply cannot see spending $300-500K on a house I have never seen. It would be different if I was thinking about a $100K property that I was going to raze and rebuild on the land, but even then...I think I would spend the few hundred to see the property up close and personal.

roybean · 08-24-2006, 02:46 PM

Listen, I agree with you guys. I just know some folks who did this and I am afraid to contact my Canadian friends and ask "How's the house?' because they didn't do half as much investigating as the other family I know who bought down south.

ilovemydogs · 08-25-2006, 03:02 PM

Quote:

Originally Posted by roybean

Listen, I agree with you guys. I just know some folks who did this and I am afraid to contact my Canadian friends and ask "How's the house?' because they didn't do half as much investigating as the other family I know who bought down south.

Oh live dangerously and call them.
I bet the house worked out fine.
The camp I bought sight unseen was sold to someone who was hiking the trail and found out how to get in touch with me, and we did everything through the mail, and until just recently when he came for a visit I never met him.
So sometimes things work out fine if you are both honorable people.
ILMD

roybean · 09-03-2006, 04:35 PM

I have tried to reach my friend in Canada and her emails keep bouncing back to me. I don't have a phone number for Canada, so I don't know what is going on, but I will keep trying.

ilovemydogs · 09-03-2006, 05:13 PM

Quote:

Originally Posted by roybean

I have tried to reach my friend in Canada and her emails keep bouncing back to me. I don't have a phone number for Canada, so I don't know what is going on, but I will keep trying.

I know that Netscape did discontinue their mail program so could they have used that?
Another thing is some mail programs block mail from other servers.
I had this problem recently with comcast.
roybean, I just saw that you are in Japan. What are you doing over there?

ILMD