Back HomeThe dos and don’ts of remote home buying
The COVID-19 pandemic has upended real estate norms. With cases still rising, expect most things to be done remotely for the foreseeable future. That includes buying a house, whether it’s in Texas, California, New York, or elsewhere.
As an entire industry adjusts to account for health and safety concerns (e.g., virtual showings, e-signings), homebuyers must find ways to review their options thoroughly to ensure a good purchase.
Here are a few dos and don’ts to keep in mind when you need to buy a home remotely:
1. Do research thoroughly
Since in-person home tours will be highly unlikely at this time, research becomes an even more paramount in the process of buying a house. It sounds basic, but any missed details may have costly consequences down the line.
So what are some items that need to be clarified as buyers do their research? Most of these will largely depend on preferences:
- Get a good sense of the pertinent details (e.g., home size, materials) that you want to see in a potential home
- Be specific about the preferred number of rooms – whether it’s an extra bathroom or guest bedroom
- Take note of the proximity of essential facilities like hospitals, schools, train stations, and others
- Check neighborhood quality. An unusually high number of homes for sale may indicate an exodus of local residents due to incidences of crime or deteriorating living conditions
2. Do request a virtual tour
Just because one is buying remotely home doesn’t mean one can’t get a walk-through of the home.
With the support of a real estate agent who can show up in person to coordinate with a seller’s own representative, virtual home tours can yield valuable information. This is an opportunity to verify the descriptions and photos in the home listing.
Luckily, there are a plethora of options – from Zoom, Skype, Google Meet, FaceTime – that can help buyers go on a live tour. And without personally being there, buyers should rely on their agents about:
- Noises or other disturbances that may affect the peace and quiet
- Odors that may permeate in or around the home
- Creaks or damage to flooring not visible in photos
- Quality of appliances, whether they’re outdated or in good condition
- The look and feel of the home upon entering, as well as going about the property.
3. Don’t take employment verification lightly
Prior to the pandemic, lenders were relatively relaxed when it came to confirming employment, an important requirement for a mortgage. A quick phone call with an employer would more than suffice.
Nowadays, mortgage lenders are taking extra precautions to ensure that a potential borrower is gainfully employed. Some lenders, like United Wholesale, verify employment multiple times. Some even ask employers to email the mortgage applicant’s updated payroll deposit or recent pay stub.
Homebuyers that are in a precarious job situation should make the necessary preparations to avoid problems with financing.
4. Don’t fear remote closing
Being physically present during closing allows for a brief sense of normalcy, but it’s still best to err on the side of safety. That’s where a remote closing can prove useful.
Both buyers and sellers can sign documents from the comfort and safety of their homes. And in today’s tech-savvy world, there are a lot of ways to generate a digital version of a signature – whether it’s through AdobeSign, DocuSign, HelloSign, and other digital platforms.
Buyers and sellers can also arrange a drive-by closing, where each party stays inside their respective vehicles while their representatives expedite the exchange of documents that need to be signed.
5. Do get a real estate agent to assist you throughout the process
Having an agent by your side is crucial, now more than ever. Remote home buying is uncharted waters for many buyers and mistakes are likely to happen.
A seasoned agent who knows the lay of the land can:
- Offer useful insights about the neighborhood, like good schools and amenities
- Recommend additional inspections to uncover any existing issues, especially if they concern the structural integrity of a home.
All of these factors can be incredibly hard to look out for when you’re physically removed from the home buying process. But when you have an agent who can support and represent you on site, it makes a world of difference.
Berkshire Hathaway HomeServices Caliber Realty will closely guide homebuyers in Brazos Valley in Central Texas, which is near the cities of Austin and Houston. Don’t hesitate to get in touch with our team of experienced real estate brokers! Call us at 979.694.8844 or send an email to sales(at)bhhscaliber(dotted)com.
