Deciding to purchase a home is one of the biggest decisions a person can make. Buyers are likely to experience a mix-bag of emotions and understandably so as the home buying process can be quite a daunting feat to take on.
Fortunately, innovations in technology have allowed homeowners to utilize the internet to make that process much easier. The following includes a shortlist of just a few of these types of platforms.
3D Cameras (Virtual Tours)
The introduction of virtual tours using 3D cameras has provided real estate agents the ability to expand their potential market. No longer will agents nor buyers be restricted by distance or a lack of images. However, the biggest benefits go towards homebuyers as they can now see how their potential home will look like before they even arrive.
This allows them to see what they are going to get and form a list of questions for their agent when they arrive at the location. In fact, virtual tours are much better at determining the home’s true state, as photos can be easily manipulated. Recently, new forms of virtual tours have entered the market in the form of 3D walkthroughs.
A 3D walkthrough allows buyers to stop and look around each part of the home and change the furniture and color to determine if it will meet their needs.
Online Home Searching
Buyers, especially during today’s difficult times, are needing to conduct much of their homebuying research process at home. This may sound like a downside for first-time buyers, but it can actually be a very beneficial thing for them.
Fortunately, there have been strides within online home search platforms that have made the process very efficient. In fact, many of them are continually adding more features to attract buyers and agents to their website. So, why are online home searches critical to the buying process?
When it comes to choosing a home, you are not only buying the home itself but also the neighborhood. Some of the information you get obtain from these platforms includes the status of the schools around it, the amount of traffic, and any other issues you may want to know about before going all in. When you can combine the convenience of searching for a home online, along with the knowledge of an experienced real estate team or agent, you will maximize the opportunity to find the perfect home.
Online Mortgage Approvals
One of the most important parts of buying real estate is first being approved for a mortgage loan. This is especially true for first time home buyers who may not be aware that most home sellers will choose those with an approved mortgage. In the past, the only way to be pre-approved for a mortgage is to make your way to your local lender and apply for one.
Fortunately, the internet has allowed this process to take place entirely online if one wishes to have it that way. Lenders also understand the importance of having these platforms as it means obtaining more business with less personal. This means that you are much more likely to find a deal quicker and more efficiently. However, it is recommended to ensure that you understand all contractual obligations before buying real estate online.
Signing Documents Remotely (DocuSign)
Although homebuyers are invested in the process, the reality is that they may not always be in close proximity to their agent. Work and family obligations can make it difficult to drop everything and get to your agent’s office when things begin moving.
Not being able to sign your name when a great offer comes your way can be a real bummer. Luckily, platforms such as Google allow agents to quickly get important closing documents to their clients. Over the years, more and more organizations are accepting electric signatures, and therefore homebuyers can feel confident in the legitimacy of their offer.
As you can tell from the information listed above, the homebuying process can be very time-consuming. However, changes in how society utilizes the internet have changed everything for the better. This is very apparent within the real estate industry. As a home buyer, you may also use these same tools to ensure that your home buying experience is as productive as possible.