How Do I Sell a Home Long Distance?

If you’re moving to Orlando and taking advantage of new construction, like the one located at The Pointe at Hunter’s Creek, you might be leaving your old home behind in another county or another state, which means you’ll be eager to sell it. Few people are able to handle two mortgage payments, and, the faster and more you sell your old home for, the better. The problem, of course, comes from not being nearby and having to sell remotely.

While this might seem to be a difficult task, it’s not much different than if you were just a few blocks away in most respects. There are things that will be different, however, and you’ll have to deal with these in a smart way in order to get your old home sold.

Know the True Market Value of Your Old Home

The very first thing you need to do is to delve into the local market where your old home is located. While you can get a general idea from online sources, those are largely inaccurate, so, you need to have a professional assessment. You can have a local real estate professional work-up a comparative market analysis, or CMA, or, you can hire an appraiser to give you a valuation.

“In recent years, many homeowners couldn’t sell their homes because they couldn’t get the price they needed. Many were fortunate enough to stay in their homes, but others moved because of job transfers or other life changes. Many ended up renting out their homes rather than taking a bit hit when selling them. These “accidental landlords” were never in the game to be investors but were forced into it because of the market.” —Yahoo Homes

You can also do a bit of research on your own, looking up sales of comparable properties–which are nearly the same livable square footage, same number of bedrooms and bathrooms, and those in similar condition, with similar features. The sales of comps ought to range from three to six months. Don’t make the mistake of pricing your home based on those currently on the market, because those are listing or asking prices, not the sale prices. With these, you can price your home right.

How to Sell a Home Long Distance

Once you know what your old home is worth in the current market, you’ll need to speak with a few professionals and have a bit of work done to get your property to sell quickly and for a good price. Here are some things you should do when selling a home long distance:

  • Learn about any tax consequences. Depending on the local market, you could sell for a loss, break even, or make money. A tax professional will tell you about any tax situations so you are prepared when your former residence sells.
  • Visit your old home periodically. If possible, you should periodically go back to your old home. Should that not be feasible, you ought to visit it at least once. If you’re renting it out, then inform your tenants about your intention to sell (you might find interested buyers are already living there).
  • Get a handyman to make repairs. There’s likely a few things which need to be fixed, so get those done with the help a of a handyman. This will be your go-to person if there are repairs needed while your old home is on the market.
  • Hire a home stager. Your home ought to be in good showing condition, and, a home stager can do this for you for only a little bit of money. You might also consider replacing old appliances to help you sell faster and for more money.
  • Get a local and experienced real estate. An experienced, local agent will stay on top of things and keep you in-the-know about interest, offers, and more.

In addition to these, let people you know in the area that you’re selling. If you relocated for your company, let co-workers who are still in the area know about it as well.