Long Distance Home Buying and Selling: Tips and Tricks for Doing It Right
How to Make Sure Everything Goes as Planned
Buying or selling a home remotely can be a stressful experience, fraught with things you need to worry about in order to make sure that you are not on the receiving end of a lousy deal, or worse. But, it can also be a relatively worry-free experience with the right approach, planning, and assistance. Follow this quick guide on buying and selling real estate remotely, and you’ll be on your way to a stress-free transaction in no time.
Tips on Selling Remotely
Selling a home from a distance is very unlike selling it when you are still occupying or living in the same area. In order to ensure that everything goes well, you will need to assemble a local team to act on your behalf at different points of the process. This team of professionals should include a licensed, bonded, and insured contractor or handyman company; an experienced Realtor; and an attorney who specializes in real estate transactions.
Even with this team in place, selling remotely can be problematic. Most experts recommend that you visit the property as often as your distance will allow, and that you have someone else (whom you trust) consistently checking in on the tenants or the vacant house in your absence. Additionally, you would be wise to do the research it takes to understand the market you are selling in, and then evaluate your motivation to sell in light of that research.
Tips on Buying Remotely
When buying remotely, research should be your first priority. Use the Internet to get the lay of the land and to investigate potential neighborhoods. Use your extended social network to get insider tips on where you might want to buy and where you should probably avoid.
Check the local school district’s website and individual websites for potential schools, the websites of any local neighborhood associations, and online community message boards for potential neighborhoods as well. Your social network may also be a great place to find a reliable real estate agent, which you will definitely need before you go.
Once you’ve completed your research and identified your neighborhoods of interest, spend some time thinking about exactly what you are looking for in a home, as well as what your potential and iron clad “deal breakers” are.
Communicate all of this information to your agent prior to visiting town for a weekend of home tours. You want to maximize your time on the ground visiting as many potential good fits as possible so you can make an offer or offers when you’ve seen what the market has available.
Worry-Free Remote Real Estate Transactions Are Possible
With a little planning, a little solicitation of help, and a fair amount of vigilance, buying or selling property remotely doesn’t have to give you an ulcer. It is doable; people do it successfully all the time — so why not you?!
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