There are many home-buying strategies, and some are riskier than others. One of the trickiest options is the blind offer. In the right situations, a blind offer makes sense, but it can easily backfire. 

blind offer

Here’s what a blind offer is, and when you should (or shouldn’t) attempt one.

Are Blind Offers the Right Home Buying Strategy for You?

The definition of a blind offer is simple: It is drafting a purchase contract for a property without having inspected the property in person. In other words, the buyer is going in “blind.”

When making a blind offer, you may not be completely blind. If there are photographs of the property or an online virtual reality walkthrough, you may be able to get some idea of the property’s condition. However, because you’ve never visited the property personally, you must rely on other sources.

The primary benefit of a blind offer is that it’s quick and can potentially speed up the purchasing process. There are several scenarios where this makes sense, including:

  • Flipping – You may have no intention of utilizing the property yourself and are simply looking to flip it on the market, there may be no reason to give it a thorough inspection in person.
  • Long-term investment – Some operations, such as property management groups, may simply want to buy land for the sake of longer-term plans. As with flipping a property, if don’t care what’s currently going on with the property, a blind offer can make sense.
  • Low housing availability – If you need a property in a particular area with low volume and high demand, blind offers can be a way of improving your chances of a successful purchase. 

The Dangers of Blind Offers

The main risk of a blind offer is obvious: You will not likely know about problems with the property, such as neglected maintenance resulting in repair issues. The seller is required to disclose many problems as part of the sale, but there could easily be others that aren’t disclosed.

Also, keep in mind that in most states a property’s seller is only required to disclose issues they are personally aware of. If they haven’t conducted a property inspection lately, there could easily be hidden problems. These problems could lead to expensive repairs.

Blind offers are typically a home-buying strategy for investors only. If you’re buying a home to live in or to utilize as a rental, be sure to inspect it in person.

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Randy has enjoyed over 32 wonderful years in the Real Estate industry making dreams come true for homeowners.

Superior customer service is #1 to Randy and he provides this to all of his clients using knowledge, professionalism, integrity and persistence.

Randy is a successful and experienced real estate agent who expertly represents both buyers and sellers. Scores of Charlotte area residents have trusted Randy in the process of listing their homes to sell.

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