Buying a house, apartment, or land while staying safely at home is possible, but there are things you must keep in mind to make sure your investment is protected.
The digitization of everyday life is nothing new. Although the Corona Virus has quickened this change, the truth is that many companies were already preparing to improve their online services with solid websites, real-time chat services, or online shopping and payment platforms.
Real Estate is no exception, and even if there are some differences, many companies have the digital tools that allow you to carry out the search, selection, and purchase process from your laptop.
Here are some tools that can help you make a safe purchase from your house:
Property visitations may stay in the past
Perhaps you don't like the idea of buying property without seeing it, but this is something that's done often, especially when we talk about any faraway property. For example, in another city or country. There are many clauses in contracts that are made to protect the buyer in these transactions.
However, as technology advances and we become accustomed to new communication channels, virtual visitations are becoming increasingly common. Several US Real Estate companies have already begun implementing virtual tours of the properties they sell.
Increased Reality tools are excellent allies to achieve this, but many times it's enough to schedule a video call with the agent or seller. This way, the buyer can:
- Tour the house
- Ask questions
- Request high-quality photographs with details
- Get an idea of the space and the atmosphere.
hese tools, along with the high-quality photos and detailed listings can give you a very clear picture of what you are buying, and help you choose without spending a lot of money on travel, or (in the context of quarantine) without putting your health at risk.
Digital legality: a term to keep in mind
Legality is very important. It doesn't matter if the negotiations are face to face or by e-mail. Making sure that the sale has been made within the law, and that the contract establishes clauses to protect the interests of both parties, is the best way to protect you.
When negotiations happen online -in video calls, e-mails, or WhatsApp messages- legality becomes more difficult. However, it's possible to close a deal and sign a contract without traveling to meet with the seller:
- E-mails are a great way to keep track of how the negotiation has evolved. Make sure you save all evidence.
- Certified electronic signatures already exist in some countries, but you can modify the data in your signature file so that you know it's real.
- If you want to sign the contract at home, you must request a PDF copy and print it to read it carefully. You can put your signature on the printed version and scan that copy.
- Notaries also work remotely, don't dismiss their services for any reason. They validate the process.
Information: the key to a successful investment
Before making any type of purchase, remember that you should always make informed decisions, and the Internet is the best tool for that.
Currently, you can find many blogs dedicated to real estate advice written by experts.
You will also find that real estate professionals like Phinance dedicate several efforts to inform readers about the options they have, how the future looks for home-buyers, and the enormous benefits of investing your savings in a real estate asset.
Take your time to inform yourself, request consultations, and consider your options.
Accessibility to buy cheap properties
The digital market has not been perfected only to maintain social distancing to avoid COVID-19. It has long been the preferred alternative for property-buyers seeking to invest in a cheaper country. Many of then can't afford continuous travel.
Let's not forget those investors who are disabled, or that have their mobility compromised but continue to make their money grow with smart decisions.
The accessibility provided by digital tools makes choosing properties, asking for details, and conducting serious negotiations much easier. And as the peso collapses, buying cheap assets in places like Tulum or Merida becomes easier.
We are living weird times. We know that we might never go back to normality, but nobody knows what the new normal will be like. Adapting to survive is vital.
Fortunately, we can still continue with our plans to invest. In fact, the lock-down can be a big opportunity!
You still have questions? Let us know. We can help you!