The real estate market is working in many people’s favor these days. Apartment and condo residents are making the switch to homeownership while couples and small families are on their way to owning (and maybe investing in) a property for the future. One thing that’s become clear to us: When you catch a break in one area, you might stumble upon some hidden obstacles you didn’t foresee.
One setback we notice in all walks of life is difficulty faced when buying or selling a home remotely. Typically these people are from out of state and have jobs or obligations preventing them from spending a lot of time on-location to search for homes. This case also pertains to real estate investors choosing to purchase homes remotely.
So, how do you manage the process without running the risk of a dud property? Keep reading to learn our six secrets for buying and selling homes remotely.
3 Secrets for Selling a Home Remotely
Assemble your team of trustees.
It’s much different selling a home when you’re not there to physically oversee the process. We recommend assembling a team of professionals you trust to keep the lines of communication open — and the focus on the sale. These kinds of people will include contractors, stagers, a realtor and an attorney specializing in real estate.
Establish a plan for security.
Since you’ll be selling your home remotely, you won’t have the opportunity to periodically drop by. Because of this, it’s important to choose someone you trust to check in on the vacant home while you’re away.
Evaluate the market.
Before and (even during) the selling period, we highly recommend taking the time to research your home’s real estate market. An agent can assist with this, but we recommend doing some investigative work on your own. If searching online, check out your local government or chamber of commerce pages which publish community statistics annually. You can also take advantage of tools like heat maps, which pull information real-time. Or, if you’d like to speak to someone directly, reach out to an appraiser and request some guidance on the property.
3 Secrets for Buying a Home Remotely
Purchasing a home remotely can be equally as scary as making the sale. When buying your first home, research is a priority. Conduct some online research and reach out to residents in the area to get a feel if it’s a neighborhood you’d like to pursue.
Something else to take into consideration is the school district, neighborhood association and local community. Most will have websites or social media, which will give some insights as to how it runs — and if residents enjoy living there.
Once you’ve researched these two aspects, it’s time to start thinking of features you’d like in a home — and ones you consider “deal breakers.” Creating a wish list is extremely helpful for your realtor, as they’re able to narrow down the search from the start. By doing so, you’ll save yourself time when you actually do get a chance to visit the area while maximizing efficiency when extending offers.
Want a free template? Click here for a fantastic real estate wish list.
Rieger Realty has accumulated a great deal of experience over the years with buying and selling homes remotely. Not only do we have knowledge of the Norman area (if you’re moving here), but you’ll never go through the process alone when moving out of state.
We recently signed a Lakecrest home, where the residents made the move from Oklahoma City to Georgia. Moving has plenty of stressors of its own — so we made sure they never had to make a trip back and the transaction could be completed remotely.
Whether you’re purchasing or selling, our team at Rieger Realty can handle it from afar. We believe transitioning into a new home should be an exciting experience (not a stressful one). So, if you have a move coming up in the future, give us a call at (405) 310-2796 and share your situation with us. There’s no reason for you to go at it alone when you have a trusted agent ready to help!