Creative Home Buying
Creating Home Buying Online
By Buyincomeproperty.com
Oct 21, 2005, 17:27

Creative home buying has been a part of the real estate industry for many years. From distress sales and auctions to wholesaling property, there have always been those willing to figure out the most creative home buying methods – often with the intention of making a profit. But the popularity and acceptance of the Internet has created a truly global market that has prompted a new creative home buying option – the online property sale.

Buying property online to some will seem a ridiculous notion. After all, a property sale is a significant transaction. But more people are doing business online, from banking to shopping and everything in between. It’s created a sense of security and made online property sales a very common occurrence. Just look at what you can accomplish online.

Digital cameras allow you to take and trade photos online in a matter of moments. There’s no need to get photos developed and wait for mail delivery. Across town or around the world, sharing of information via the Internet is almost instant.

Virtual tours are becoming more accepted as a way of viewing property without actually making the trip. More than just digital photos, a potential buyer can “visit” the home from their own computer, roaming through rooms at will and stopping to look at anything that catches the eye. Think that’s water damage on the wall? Zoom in and check it out. It’s not quite like actually being there, but it has made online home buying much more comfortable for many people.

And it’s not just cheap residences or property that seems unlikely to sell that are listed online. You’ll find online home buying opportunities all around the world, and a variety of types and prices. From the usual to the unique, online property sales are as diverse as the people offering and those bidding.

Realtors aren’t the only ones taking advantage of the Internet as a creative home buying and selling option. Individuals are offering property for sale and trade online as well, many of them on auction sites. These auctions are much like the silent auctions one might attend for a charity event, or like any other online auction. You can browse listings, look at descriptions and photos, ask the seller questions and place your bid.

But is an online property sale safe? If you follow some basic guidelines, you can usually rest assured that the sale is legitimate. Be aware of the policies of the company hosting the auction. Most will offer dispute services, though they don’t make any guarantees about the items listed.

Before you make a bid, be sure that you’re clear on the details of the transaction. A contract and an attorney are vital before you enter into an online property sale.

Remember that it’s easier for the seller to hide things with an online property sale. The property might be next door to a toxic waste dump or the compound of an outspoken cult. It’s up to you to do your research. That’s one of the biggest negatives of buying property online, unless you take time to visit the area yourself. While a realtor is typically going to want you to be informed because that professional’s reputation is important to his business, an individual may not be as conscientious about an online property sale.

Buying property online has become one of dozens of creative home buying options, and one that seems to be fairly widely accepted. It’s also a very legitimate way of searching for property for your own residence or for investment purposes, as long as you’ve taken the time to protect yourself.