Hi all, I’m looking to buy an IP interstate but with border closures and all, I don’t think I’ll be able to see many properties in person. Has anyone recently bought site unseen during COVID? What was your experience and is there any advice you can give me? also, I’ve been talking to a few buyers agents in Sydney where I live and they are recommending properties interstate site unseen as well on their end. Are buyers agent meant to see the properties in person themselves or is it common for buyers agents to rely on building and pest inspections when selecting properties for client site unseen? cheers, Caleb
I've purchased via a buyers agent and never visited the property. Very happy with the results though. There is a growing number of BAs out there who are purchasing remotely, also sight unseen. I'm very sceptical of this model. As it's been described to me, they do a lot of research with tools available to them, then get a local property manager to perform a condition report. My primary expectation of a BA is they know the local area extremely well. They know good value for that location when they see it. Whilst this may not lead to a cheaper price, I hope it leads to a better purchase at the right price. I'm sceptical that this level of local knowledge can be properly acheived without ever visiting the area and outsourcing a lot of the job.
A BA who doesn't inspect properties themselves but instead relies on internet photos/sales agnt spiel/flicking links to clients... well what are you really paying all that money for?
I agree. I can't imagine hiring a BA where the BA is not personally inspecting the property or is outsourcing the inspection to a third party. It can be a recipe for problems especially when buying an older style property. I've seen in Brisbane where buyers have purchased sight unseen with an interstate BA and have severely regretted it. Unfortunately a building and pest report won't identify everything a buyer needs to know about the property and surrounding area.
