These days, we can do a quick search and buy just about anything online, so why not do the same with real estate? It may seem like it would be quicker and easier than the traditional method of buying property, but there are actually many reasons why you shouldn’t jump into purchasing your next home on the Internet, especially without a Morgan Hill real estate agent to help you through the home buying process. Here are some of the top risks people encounter when going this route.
Potential For Missing Several Listings
The Internet can be a great place to start your home search. It will give you a good idea about what’s for sale on the market and give you some important details about neighborhoods and the surrounding area, but your search definitely shouldn’t begin and end online. You can’t possibly find every available listing on your own since real estate agents often have knowledge of exclusive listings that only their clients are able to access, which means there is great potential for you to miss out on the perfect home if you don’t even know it’s out there. The other side of this is that there could be so many listings to wade through that you don’t even know where to start or how to focus your search without an agent who has the skill to match your criteria with what’s on the market.
Paying Higher Prices/Victim of Fraud
Buying a home online means the very real possibility of paying much more than you would if you had a real estate agent working the deal for you. First, an agent will give a much more accurate assessment of a home’s value than you’ll get from a free online tool estimate. Second, an agent will identify what comparable homes are selling for to ensure you don’t end up paying way over this amount. And third, a buyer’s agent will negotiate on your behalf to get you the best price overall, sometimes even getting the seller to pay the closing costs.
In addition to paying a higher price, online buyers have a higher chance of getting swindled. The Internet is full of people who are ready to make you their next victim of fraud, and the real estate market is not exempt from that. There are plenty of fake listings out there as well as the dangers of unsecured monetary transactions.
Not Knowing Exactly What You’re Getting
One of the biggest risks a buyer is taking when they purchase a home online is having to trust photos and the description when it comes to appearance and condition. By not physically seeing a property first, they can never really know exactly what they’re getting. You may think that the description seems very detailed, but there could always be information missing that would make a significant impact on your buying decision or the price you offer if you were there to actually see it in person.
Taking On All Home Buying Tasks Yourself
There is a lot of paperwork and a long list of “to-dos” when it comes to the home buying process. When you choose to forego working with a real estate agent, all of that falls on your shoulders alone. The stress of finding homes, setting up showings, negotiating deals, filling out paperwork, scheduling inspections, etc. can really deter the excitement of buying a home and leave you feeling defeated instead. It also opens up the door for mistakes to be made when you don’t have a professional guiding you.
The Internet is great for many things and has opened up a whole new world of possibilities, but when it comes to home buying, it just can’t compete with the value of having a Morgan Hill real estate agent on your side.