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Buying a Home Virtually? Here’s How To Navigate the Process Successfully

Are you interested in buying a home and considering buying it virtually before you have seen it? As the use of video technology continues to become more and more popular, many people are opting to tour a home virtually and make an offer off sight without ever seeing the home first. If you are interested in purchasing a home virtually in Knoxville, Maryville, Lenoir City, Oak Ridge, or Gatlinburg, Tennessee, Foundation Mortgage is here to help. Read on to learn some successful tips when buying a home online.

  1. Identify What You Want In a Home

When buying a home virtually, you will need to determine exactly what your home must have to suit your needs and understand other factors that can be negotiable. Consider what city or neighborhood your home must be located in, how many bedrooms and bathrooms you desire, if you need a garage or a yard, if it is necessary to be pet friendly and near good schools, etc. Making a specific list will help make your search for homes easier and eliminate homes that will not suit you. You also will want to research the area that you are looking into buying to see the neighborhood amenities and visit Google Street View to explore the area.

  1. Select an Experienced Real Estate Agent

housejul3To select the best real estate agent for your situation, talk to several different candidates about your goals before you choose the right fit and ensure that they are local and know the area that you are interested in buying in. When buying a home virtually, it is also important to choose someone who is tech savvy and can successfully handle virtual tours and closing transactions.

  1. Get Preapproved For a Loan

If you are planning on financing the home with a mortgage, it is crucial to get preapproved for a loan. This demonstrates to lenders that you are financially capable of paying back the mortgage and shows sellers that you are serious about purchasing the home. In fact, more and more sellers are requiring homebuyers to be approved beforehand to verify that you are qualified to buy the home.

  1. Work With a Loan Officer You Trust

You will want to be selective about the mortgage lender that you choose to help you close on a loan with virtually. Before finalizing the deal, you will want to explore your lending options and ensure that the company is able to offer an efficient online homebuying experience.

  1. Become Proficient With Video App Technology

When buying a house virtually, you will need to tour the home online so that you can view the property and ask questions. Therefore, you will want to familiarize yourself with video technology such as FaceTime, Zoom, Skype, etc. to get the most out of your virtual tour.

If you are interested in purchasing a home virtually in Knoxville, Maryville, Lenoir City, Oak Ridge, or Gatlinburg, Tennessee, contact Foundation Mortgage today for a consultation.

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