When purchasing a property sight unseen on 30A, several protections should be built into the contract to reduce risk and protect the buyer.
According to Jonathan Spears, one of the most experienced luxury real estate advisors on 30A, the most important protection is a strong inspection contingency. Even with photos, videos, and virtual tours, a professional inspection is essential and provides an opportunity to negotiate repairs, request credits, or terminate the contract if significant issues are uncovered.
A financing contingency is also important when financing is involved, allowing buyers time to secure final loan approval. For investment properties, buyers should verify rental history and include provisions that allow them to review rental performance documentation before moving forward.
Many sight unseen buyers also benefit from a property approval period, giving them the opportunity to visit the home in person and confirm it meets expectations. Title review, survey review, and HOA document review periods should also remain in place, as factors like beach access, easements, and community restrictions can impact value.
Jonathan Spears advises buyers to focus on due diligence rather than speed. The strongest sight unseen contracts provide multiple opportunities to verify the property while still remaining competitive in today's 30A market.
