Online Property Auctions: Tips To Consider Before You Bid On That House

27 October 2015
 Categories: Real Estate, Blog


Purchasing property online gives you the opportunity to see several properties at once, and usually, at great prices. But sometimes these properties are far from where you live, and all you have to look at are photographs, which could be outdated. The following is a guide that should help you find out if the house you are considering will be a good buy.   

Online Research

You may have to resort to online research should you be unable to physically visit the property on your own or have a family member near the property inspect it for you. 

The following are a few things you should look for:

  • Medium Income levels around the property
  • Local news regarding homes for sale (too many homes for sale is a bad sign)
  • Crime reports near the property
  • Entertainment value or community festivals are usually signs of a safe neighborhood
  • Quality of local schools, even if you do not have any children, are a good indicator of a good neighborhood

Find a Local Real Estate Agent

The next thing you can try is looking for an agent right in the heart of the area near the property that you are considering. This agent may have insights regarding the neighborhood that you are considering. Be sure to be specific, for example, search for an agent in the county rather than searching for a real estate agent near the largest city. 

Independent Lookers

You can also try to hire a looking company that will send a local agent to the property to give you a live report and photographs of the house you are considering. The lookers for these types of companies are not professionals and may not be able to report on anything beyond what can be physically seen or toured. But at least you'll have an honest verification that the property you are considering is what you expected. 

Be sure to have your looker be vigilant of the following issues that may be visible without thorough inspections:

  • Foundational issues, which could look like a slightly lopsided home, can cost a lot depending on the extent of the issue
  • Visible mold, which could indicate water damage, could pose a health hazard to you not to mention foundational issues or electrical issues
  • Cracks, dents, or lopsided roofs could mean costly roof replacement

So, purchasing a home online can be done, even if you aren't physically able to inspect the property as long as you do a little homework.