Ideally, when you move, you sell your old home or your lease is coming to an end, and you buy the new home at the same time. This is how the vast majority of transactions occur.
But the situation gets more difficult and more complicated when you live in one state and have to sell a home in another state. With some foreknowledge and preparation, it can be done fairly painlessly.
Here is what you need to know about selling your Boston home when you live out of state.
Hire a Staging Company
Multiple studies have shown that staged homes sell faster and at higher prices than homes that aren’t staged. So the first thing to keep in mind about selling your Boston home when you live out of state is that you’ll need to hire a professional staging company.
After all, you don’t think those renovated-in-30-minutes homes that you see on HGTV aren’t staged, right? They sure are (…along with many of the plot points on those shows!)
Obviously, you can’t do the staging very well when you live hundreds of miles away. Using a professional stager can really make a massive difference when selling a home while you’re out of state and unable to do it yourself. By working with a staging company (ideally one your agent recommends), your home won’t look incomplete – a vibe that could turn off buyers.
Price According to Your Selling Goals
Pricing correctly is one of the most important aspects of selling a home. And when you live out of state, it becomes even more important.
If you aren’t in a hurry to sell, you can price higher and see if the market demand will bear that price. But if you need to sell quickly, which is much more common for sellers who live out of state or are moving to a new state because of a job relocation, you’ll need a much different pricing strategy. You will have to figure out how to price so that you can still profit while selling within your desired timeframe.
Your real estate agent can be a huge asset in pricing according to your selling goals, especially considering that you won’t know acutely what’s going on in the Boston market when you’re in another state. To find out how a good local agent can assist you, call us at (617) 657-9811.
Have a Team and Let Go
Another important thing to know about selling your Boston home when you live out of state is that you’ll need a team of trusted experts. You will also need to relinquish control and let your qualified team work their magic.
Avoid unnecessary back-and-forth during the sale by making sure your team has all the paperwork and documents that they will need throughout the process. Make sure your team members are aware of one another so that they know how to communicate without going through you. Share phone numbers and contact information among them. Be sure to hire a real estate broker and a real estate lawyer while you’re in town so you can walk them through your property, give them your deed, and make sure all involved parties have each other’s contact information. When you’re selling from out of state, you should have your game plan set from the start.
Once you have a good team in place, you’ll have to give up some control. Trying to micromanage them from another state is a recipe for disaster. Your local agent can help you assemble a team that will do the heavy lifting for you. At NextHome Titletown Real Estate, we do this all the time.
Consider Out-of-State Closing Logistics
Perhaps the most difficult aspect of selling a Boston when you live out of state is the final stage in the process – closing. You’ll need to consider the logistics of closing, especially since many attorneys will require your presence at closing.
If you live only a short drive away, that’s no real problem. But if it means buying an expensive plane ticket and taking time off from work, you may need to find people who are more flexible.
When you live out of state, pick a flexible closing attorney or title company. When you’re vetting the companies you are going to close with, ask them if you can sign the closing documents with a local notary present. If the buyer’s lender or your agent is selecting one, have them make sure that you can close from out of state.
Hire an Agent Who Can Handle It
Maybe the most important piece of the puzzle for selling your Boston home when you live out of state is hiring an agent who can actually handle this situation. You should be especially particular when hiring someone to handle an out-of-state sale. Your listing agent should be experienced in coordinating with clients remotely, and able to make a fast sale on your home so that it doesn’t just sit on the market.
Lots of agents know our local market, but not all of them understand how to work with out-of-state clients.
Our agents at NextHome Titletown Real Estate have that necessary expertise. Find out today how our agents can help you sell your Boston home when you live out of state. Contact us at (617) 657-9811.
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