Should You Buy a House Online?

What if you could cut out the hassle of finding a real estate agent, touring houses in different neighborhoods, and meeting dozens of times over the smallest of details? Believe it or not, there is a way. More and more people are turning to the Internet for real estate transactions, but should you buy a house online?

Web sites like Owners.com, ForSaleByOwners.com and even eBay are providing online forums through which you can buy and sell a house. Many even provide valuable resources like contracts, electronic signature capabilities, links to mortgage lenders and more. Of course, with all of the convenience this provides, there are certainly a few risks when you buy a house online.

The goal of providing real estate services on the Internet is to cut out the middlemen: realtors. Real estate agents just get in the way, or so these Web sites would lead you to believe, but the reality is that realtors can save your behind when purchasing a new home. They are experienced not only in the financial nature of buying and selling real estate, but also in the practical, mechanical and structural aspects.

By looking at photographs of a home online, can you tell if there are foundation problems? If mold is growing inside the walls? Probably not. Even if you are moving across the country, it is always a good idea to have the home inspected by a professional and to see it yourself. Furthermore, you might discover after seeing the house in person that you really don't like it much after all.

It is also true that real estate agents can answer questions that can't be readily found online. A Google search might yield a few answers, but how can you know if the sources are accurate? The security of searching for a new home with a real estate agent is far more valuable than convenience for many consumers.