Buying Real Estate Online
By ebizniz on December 20, 2007 - 9:01am
Can anyone buy real estate online?
The answer is yes, but with qualification.
Buying real estate online has many limitations and it is not for the average home buyers. Such purchases are mostly confined to new condo purchases by oversea or out-of-town buyers. Even then, these buyers are well informed about the local real estate market, real estate taxes and they use local Realtors and the services of local property management companies where required.
Online real estate sale transaction should be more appropriately called long distance real estate transaction. Such sale transactions happened but they form a small percentage of the overall transactions. Real estate purchases are fairly large financial commitments, home buyers are just not comfortable making such major commitments online and sight-unseen.
Most real estates are bough and sold by local people. The process of buying a property involves viewing the property, checking out the neighbourhood, home inspection, etc. Virtual tours and audio/video shows help in the marketing, but ultimately buyers want to physically view the properties before buying.
If you are looking for real estate information in Richmond or South Vancouver, you can contact James Wong at Re/Max Westcoast.
