You can buy and do anything online, from shopping for clothes and gadgets to negotiating vehicles, paying bills, and conducting a house inspection. However, real estate investment, such as buying a house, involves necessary property inspection to protect both the seller and the buyer.
What Is A Virtual Property Inspection?
Virtual property inspection is the latest technology that utilizes pre-recorded videos, video applications, or three-dimensional (3D) technology to present a property listing remotely to potential buyers or investors.
The real estate industry uses virtual tours, which recently became an excellent alternative to physical property inspection. However, to answer the question raised in this article, it’s essential to know how it works, its benefits, and its drawbacks.
How Virtual Property Inspections Work
Knowing how virtual property inspections work is crucial to setting proper expectations and getting the most from this new experience.
Like physical inspection, a virtual inspection calls for preparation before sellers can offer a property for sale. Cleanliness is a significant consideration because buyers can spot dirt, clutter, and mess with today’s high-tech cameras.
Virtual property inspections also involve using appropriate equipment and software, such as a camera with 360-degree or panoramic capabilities. The virtual tour should show an endearing walk-through plan for all rooms, allowing buyers to view all corners, spaces, features, and angles.
Once the virtual property inspection video undergoes editing, the seller will distribute it on online marketplaces, social media, and property ad platforms. Interested buyers can play the virtual tour video and raise questions to the seller through the messaging app feature or using the listing’s contact details.
Benefits Of Virtual Property Inspections
Virtual inspection can greatly benefit buyers more than you can imagine. Here are the advantages of virtual property inspections:
A virtual property inspection can help save you time and effort visiting several properties. With digital tours, buyers can use their smartphone or any mobile device to check multiple properties in one city or state without commuting or driving. Hence, choosing the property that you’re interested in buying becomes quicker.
For instance, you can watch the virtual property inspection of 20 houses in just an hour or two. Once you’ve narrowed your options into five properties, you can set a house visit to see each house physically.
When you have access to all virtual property inspections of listings you’re interested in, you have more time to go back to each video and check anything you have missed the first time. When you visit a property in person, the experience can be too overwhelming, leading to impulsive decision-making. However, a virtual tour allows you to weigh the pros and cons before deciding whether to skip or consider a property.
Get The Best Deal
Buyers are free from pressure and stress with virtual property inspections. They can also gain peace of mind because the virtual tour video already serves as proof of the property’s condition, and any changes can pave the way for better negotiation to get the best deal.
Drawbacks of Virtual Property Inspections
Despite its benefits, some people are still hesitant to buy a house based on a virtual property inspection. For one, buyers cannot see everything in a video. The seller may also cut or hide property damage from the virtual tour. Moreover, the experience of being present in the house to see each room for yourself is different from an online house tour.
These are valid concerns. For this reason, private sellers and real estate professionals try to employ advanced technology to simulate real-life tours. They even hire the best videographers so virtual tours can leave an inviting and favorable impression on potential buyers.
Should You Buy A Property Based On A Virtual Tour?
If we will consider the benefits listed in this article, then the answer is a resounding yes. Many investors close real estate transactions through virtual tours, such as flippers and house-for-cash buyers. They trust virtual tours to make quicker decisions to keep up with the market demand and resell the properties at higher prices.
However, if you’re a private buyer, take due diligence to visit the house before closing the sale to ensure you won’t regret your decision. Use virtual property inspections as your tool to quickly check listings in a specific area without hassle.
Buying a house based on an online tour is acceptable because it’s an excellent alternative to a physical inspection. You can close deals quickly anytime, from anywhere you are. Furthermore, a virtual property inspection can help a buyer make a well-informed choice at every stage of the buying journey. It saves time, effort, money, and trouble, so a house-buying experience becomes more positive and meaningful.