With Modoc County being quite remote, it isn't unusual for property buyer to buy property, mostly vacant land, sight unseen.

They buy through Ebay, private sellers on Craig's List, County Tax Sales and even through real estate offices.  Is it a good idea?

Depends.  When I get a buyer looking to buy sight unseen I have a lengthy discussion with him/her about the property of interest, location, access issues, buildability, etc.  I try to give the pros and cons and also any precautionary advice.  Even so, buyers will still buy sight unseen.  Sometimes they get some really great deals -- other times they end up with duds.

If you are a buyer be sure to work with someone who will give you the "real scoop" on the area and the property that you are looking at.  Even though we are remote and our property values significantly lag behind values in larger markets, if the deal looks too good to be true compared to other comparables in the area, it probably is.

 
This post has been included in California Information Modoc County, CA Information

3 Comments on Buying Real Estate Sight Unseen -- Good Idea or Not?

OCT
04
2008

Hi Evelyn:

Buying real estate sight unseen can be a risk if the investor has no background or idea of what he/she is buying.  The name of the game is research.  If buying vacant land, one must get information about the land; location, condition, what has been on it, previous uses, if anything, what rights come with it (water, minerals, etc), zoning, and potential for rezoning for the purpose it is being purchased.  Also, check with the County or City on the "path of growth or progress" if this is a developing area.  Always, always, always, get in writing from the County or City zoning and if they will allow rezoning and what they will allow to be built on a property.  I know someone who purchased a lot for automotive use, he had gotten a verbal OK from a City worker, only to be told after he baught the lot that he could not put his automotive business on it.

I have purchased tax liens for properties sight unseen done well.  I walked away from one small lot that did not cost much and was no big deal to walk away from.

Hope this helps.

 

flo

4:10pm • #1
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There are so many scams out there and especially on Craigslist. Anyone wanting to buy land in your area would be very foolish not to use your services!!!!

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4:25pm • #2
OCT
08
2008

Maybe I'm just a worrier, but it seems like people who buy property sight unseen are taking an incredible gamble. I've written articles on brownfields and environmentally damaged properties before, and bet there are some unscrupulous sellers out there who would love to sell one of those properties--with all its cleanup liabilities--sight unseen. Its nice to know there are realtors like yourself out there who take the situation seriously and try to watch out for the buyer, even when they are not watching out for themselves!

 

9:18pm • #3

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Evelyn Panning

Alturas, CA

More about me…

Property Connections Realty Inc.

Address: P.O. Box 1527, Alturas, CA, 96101

Office Phone: (800) 565-2411

Cell Phone: (530) 640-2411

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Dedicated to assisting buyers and sellers in Modoc County. Home Sites, Resale Residential, Ranches, Commercial and Brand New Liberty Manufactured Homes.


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