As I approach my retirement age, I may end up having two homes. For instance, I may have an official residence and a vacation home. Well, there are other individuals who one more than one home in different states. Since I own a home on another state, I may ask myself different questions, including, how can I sell my house fast, yet I reside in another state?
Fortunately, it is possible to sell a home fast and live out of state. There are no laws outlining that I should be present when the house is being sold. Nevertheless, as a homeowner who wants to sell a home out of state, I may have to carry out some in-depth research regarding the selling options since there are some issues that I want to avoid.
If I want to ensure that the sale process goes on without any issues and I am currently residing in another state, I should contact a renowned realtor. The realtor should be operating within the state where the house being sold is present. The realtor is conversant with the sales process, and they will ensure I have received a good deal. First, I should look into the facts before deciding my next move.
Who Sells a House When They are Out of State?
There are different reasons why a person may be forced to sell a house despite being in another state. Some of the reasons include:
• I may have inherited the home from a relative.
• I may have moved to another state because of work.
• I may be an executor of a particular estate.
• A loved one residing in the house may be old, and they have to go into residential care.
• I may have married recently, and I have to move to another state with my spouse. In this case, I will have to move in with my spouse, and that means that the house will not have any occupants.
• I may be undergoing a divorce, and I have to dispose of some assets to ensure the divorce progresses smoothly.
• There are instances whereby I may have to move to another state so that I can get a fresh start.
Regardless of the reason why I want to sell my home, there are some factors that I should consider including:
Liaising with a Real Estate Agent
As a homeowner, I may already have a few contacts of real estate agents within my state of residence. I should contact each one of them and schedule an interview. To sell your home for cash, it is advisable to outline this during the meeting. I can also issue additional instructions. The process of looking for a real estate broker will not have any financial impact. Nevertheless, I will have to spare enough time so that I can hire the right real estate agent.
The real estate agent will not charge any upfront fees. They usually charge a commission after the sales process progresses successfully. The commission will vary from one real estate agent to another. For instance, if the real estate agent charges a 5% commission, if the house is valued at $300,000, the real estate agent will be paid $15,000.
As a homeowner who wants to sell the house out of state, I should know that the cost is usually taken out of the sale price. Such considerations are important, especially if I am servicing a mortgage or any other type of loan.
The Financial Costs Present
As a homeowner, I may assume that the only cost I have to bear is paying the real estate broker as per the agreed commission rates. Well, some of the additional costs that I will have to incur include:
When selling a home that I was living in, it is advisable to procure the services of a home inspector. They will inspect the house and advise on the areas that need repairs. Some of the repairs that may be present include leaking roofs, dripping taps, and dents on the wall. Each of these issues needs to be addressed before the potential home buyer comes to check the condition of the house. If I am in a position to avail myself, I can inspect the repairs process personally. Since the main focus is on the people selling their houses when they are out of the state, such individuals should hire a contractor who will supervise the repairs process on their behalf. By ensuring that the repair process has progressed smoothly, I can easily obtain cash for your home as long as I have found a serious buyer.
Looking into House Clearance
I may have inherited property from a relative who had accumulated numerous assets. Some of these relatives may have been hoarding different belongings within the property. In such an instance, I will have to pay a clearing company to come and clear the junk present in the house. After doing so, I can look for cash home buyers.
Decorating the House
The main aim of decorating the house is to ensure that it is appealing. After decorating the house, I can offer some assistance so that you can sell your home for cash. An attractive house can easily attract cash home buyers. Since I am selling the home while residing in another state, I should hire a supervisor who will then oversee the entire house decoration process.
Looking into Staging
When selling my home, some real estate agents will offer advice using a staging service. Such an idea may be pleasant at the beginning, especially when I am not present physically, and I have to sell the home when I am in another state. I will be tasked with paying for the professional advice being offered by the real estate agents.
The Additional Costs
Even if the house being sold is in good condition, if there is no one residing in the house, some of the expenses that I will incur as I look for a buyer who will offer cash for your home include:
• Vacant house insurance- this is an insurance cover that usually covers the house in case there is a fire, wind, hail storm, or lightning. Adverse weather conditions may damage my home. In such an instance, the insurance company will cater to the damages that have come about. The main issue is that some policies do not cater to liabilities such as broken windows, vandalism, or frozen pipes.
• Utility Bills- it is advisable to ensure that the utility bills in the house have been disconnected in case I have relocated to another state.
• Repairs- if a real estate broker has listed the house, I should cater to the repairs first so that I can easily attract potential buyers.
• Maintenance- as a homeowner, I will have to maintain the yard. I can hire a professional who can cut the grass and also weed the beds present in the yard.
The sales process usually takes time. For starters, I will have to look for a reputable real estate agent. The real estate agent will then take the time to look for a prospective buyer. The process of looking for a buyer may actually take weeks.
After finding a real estate agent, they are supposed to adhere to the instructions that I have issued. The house should also be prepped before being sold off. The real estate agent will facilitate the photography process. They will then post some ads on different platforms. After that, they will wait for a prospective buyer. The buyer should be willing to pay a price that aligns with the value of the house.
If I am leaving my house for a prolonged period, some of the issues that I may encounter include my home being vandalized. Also, some people may start living in my house without my authorization. In such an instance, I will have to file a lawsuit so that I can evict such individuals legally since they are residing in my premises illegally. To avoid such issues, I should sell my home through the help of a renowned real estate agent within the state.