Buying an out-of-state home is a standard process; however, it is slightly more complicated, as you need to handle many details from afar. Conducting thorough research on the local market and real estate agents is the best place to start, so you can confidently purchase your new home. If you’re looking to buy a house out of state, read on for tips to make the process as smooth as possible.
Select a Real Estate Agent Through Referrals
When buying real estate out of state, the most essential first step is to choose a real estate agent familiar with the local market. Next, tap into your network to gather referrals for real estate agents, so you can interview at least three agents and feel confident in your decision.
Conduct Your Own Research on the Area
Spend time researching the area to learn about area statistics, the local downtown, proximity to the nearest city, transportation hubs, etc. Contacting the local chamber of commerce to obtain information can also help.
Begin House-Hunting Early
Looking for a house is stressful, no matter how familiar you are with the real estate process. Searching for a home out of state can further elevate that stress. Start looking for a home sooner than you planned and long before you need to move, to account for interviewing real estate agents, becoming familiar with the area and making travel plans to see the house.
Enlist a Relocation Specialist
A relocation service can assist with the unknowns of moving to a new area. They can help you navigate the move, find movers and packers, provide referrals for local service providers, assist with finding a school or childcare information, help you move your pets and help familiarize yourself with the area.
Schedule Virtual Tours
Schedule as many virtual tours as possible with your local real estate agent. This will give you a feel of the real estate inventory in the local market. Also, ask your agent to do a video call to tour the local downtown to get a better feel of the local restaurants, shops and overall vibe.
Plan Several Trips
Schedule several trips to the area to help yourself acclimate. Plan an initial trip to get your bearings and tour houses you’re interested in, and ideally, plan a second trip to view the property you plan to offer. There is no substitute for seeing a house in real life, despite the thorough virtual tours and video calls.
Rely on Electronic Paperwork
Electronic paperwork for your contract and mortgage processes can help move the process along when you can’t sign documents in person. When you’re interviewing real estate agents, ask if they are comfortable with electronic paperwork.
