Sight Unseen

7 Replies

Hey all - I have another "Sight Unseen" question. Is it EVER common in to wholesale purchase completely sight-unseen? And by that, I mean the property is out of state, occupied, and about to go to auction. I buy it sight-unseen with the intent on wholesaling it (double close) within 48 hours. Most of the inventory I have access to is out-of-state, pre-auction REO and condition is unknown. No walk-through allowed because it's occupied. I need to know if any rehabbers would actually buy wholesale from me without seeing the property. I'm pretty sure I know the answer, but maybe I'm missing something. All insight is welcome. Thanks!!

Hey Brad,

From a rehabbing standpoint the answer would be no 95% of the time. Only time that I would consider it is if it was at a price that could comfortably get in and not worry about any surprises in the rehab.

@Brad Thompson

 I purchase sight unseen all time but only in areas I know well.  It is not completely uncommon, lots of investors do it.

Originally posted by @Justin S. :

@Brad Thompson

 I purchase sight unseen all time but only in areas I know well.  It is not completely uncommon, lots of investors do it.

 Hey @Justin S. - thanks for responding...areas are Scottsdale and Tempe...price is well below retail, but again, sight unseen. Interested? Lol...

I have a line on two places, both duplexes, that I want to wholesale.  Both have been vacant for years and are boarded up.  Both are in ghetto areas.  The owners are out of state and in default but the homes haven't gone into foreclosure as of yet.  I want to make offers on both but can't access because they are boarded up.  I think I can get them relatively cheap as the seller wants to be rid of them but unsure how to price out to my investors without good pics to assess the rehab costs.  Any suggestions?  

Originally posted by @Sherri Southwell :

I have a line on two places, both duplexes, that I want to wholesale.  Both have been vacant for years and are boarded up.  Both are in ghetto areas.  The owners are out of state and in default but the homes haven't gone into foreclosure as of yet.  I want to make offers on both but can't access because they are boarded up.  I think I can get them relatively cheap as the seller wants to be rid of them but unsure how to price out to my investors without good pics to assess the rehab costs.  Any suggestions?  

 If the owners are okay with it... Just find a way in.  Sometimes you've got to get creative to get inside.  I've sold properties sight unseen before, but I had pictures of the interior.  The only property I've sold completely sight unseen was with an eviction but the price was such a homerun that it was a no-brainer.

Thanks!  The owner gave me access authorization to enter the homes.  I don't expect any issues as they've been vacant for years according to the owner but I don't want to take any chances. 

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