Buying a house out of state can be a big bite for many of us. Some are even scared to try, and rightfully so. There are many things that can go wrong even when you are buying a house in your neighborhood, let alone somewhere far away. But, don’t be discouraged. If your mind is set on buying a property out of state, this guide will help you ensure the deal goes smoothly.
Do a thorough research
It goes without saying that you should do thorough research before buying a home wherever you decide it should be. Don’t rely entirely on your real estate agent. Of course, he or she is there to help you find the best place for your relocation, but there are some things that should be doublechecked. Furthermore, there are some details about the neighborhood that not even your agent is familiar with. Google can lend a helping hand, you just have to know where to search. Arm yourself with patience and start browsing. There are many neighborhood guides that can be very helpful for getting to know a community of your interest. These guides are great because they tell you a lot about local crime rates, employment potential, weather, and economic stability.
Start early to avoid stress
Searching for a home to buy is stressful under the best of circumstances, but buying out of state can be incredibly stressful. A house is usually the most expensive thing that people buy, so the process should be performed with the utmost care. You can help yourself a lot by starting the search as early as possible. If you have decided to move, the ideal time to start searching for your new home is six months before the due date of your relocation. Three months is also a doable period, but don’t let yourself start a search later than that.
Be careful when choosing an agent for buying a house out of state
When you decide to relocate out of state, you need to find a real estate agent who will do most of the work for you. And, there is a lot of work to be done. An international move often means a lot of paperwork, so some people are not sure whether they should hire a real estate agent or a lawyer when buying a property.
The best decision you can make is to hire a buyer’s agent in the state you are relocating to. Do not ask a listing agent to represent you since he or she will probably represent the seller. In that case, their job is to sell a certain property for the biggest amount of money and they only have the seller’s best interest in mind, not yours. So, you should choose a buyer’s agent.
How do I choose a buyer’s agent for buying a house out of state?
The buyer’s agent is definitely a better option than a listing agent, but still, you shouldn’t pick one randomly. Instead, you can discuss it with a real estate agent in your present community. Find one that you trust and ask him/her to refer a colleague from the area you’ll be moving to. If the real estate agent is a member of the National Association of Realtors, he/she will have access to various databases. They can even see their colleagues’ success rates. By getting a referral, you can ensure that you do not become a victim of various realty scams.
Hire a relocation specialist
Have you heard of relocation specialists? No, that is not the term used for professional movers such as Gibraltar Van Lines who can help you relocate wherever and whenever you feel like. A relocation specialist is a person who can help you with many aspects of your move. The only thing that they do not do is negotiate your home purchase. However, they can:
- help you find a real estate agent to start home-hunting;
- connect you to moving companies;
- give you the necessary details about the education and employment system in your future home town;
- help you sell and close on your current home which is an important part of the procedure you have to go through when buying a house out of state.
It is a common practice for companies that are relocating to hire relocation specialists. That is why many people do not know they are available to individuals as well.
Take a trip and get an inspection of your potential home if you can
If you are buying a house out of state you will probably not be able to go to every showing in person. What you can do is ask your agent to give you a virtual tour of the houses that you have shortlisted. Speaking of such tours, don’t fall for online virtual tours because they are usually a part of a moving scam.
When the time comes for you to make an offer on the house, you should really make an effort and see everything in person. There are many things that even the best real estate agents will not notice. You will be able to feel the space, and that is something no virtual tour or agent’s descriptions can replace. And you wouldn’t want to make a mistake when making such a crucial decision as buying a house out of state, would you?
Many sellers would work on some features that make their home sell faster while neglecting some major issues about their property. That is where a home inspection comes in handy. It might be a burden to your budget, but at least you will know what you are dealing with.
Close on your current home first
If the out-of-state closing is scheduled on the same day as the closing on your current home, you might have a problem. The lender for your new house must receive a closing statement from the old one. The best thing you can do is schedule the closing on the new house a few days after the closing on your current one.
Whether you’re looking for homes for sale in Fredericksburg, Stafford, Orange, Locust Grove, Norther Virginia or even Maryland or DC, we are your Real Estate team committed to finding the perfect home for you! Thinking of selling? In any market condition, “what is my home worth?” is the #1 question asked by homeowners. If you wish to sell your home, it needs to be sold for top dollar, and in a timely manner. Pricing your home accurately, one of our area expert advisors will partner with you to make the selling process so much easier. Get started today by calling us at (540) 388-2541 or contact Pat Licata.
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