How To Sell A Home Out Of State

Even though selling a home is easier when you are present, either still living there or within a short driving distance, there are situations when this is not possible.

For whatever reason, you may sell your home after relocating to a new state, whether for work or to purchase land to build your retirement dream home.

Doing it remotely might make an already daunting task seem downright distressing. It, however, is not necessary.

Here are ways to stay calm while selling a property in another state.

1. Hire The Right Real Estate Agent

While there are likely many competent real estate agents in your old city, you should be extra selective when picking someone to handle an out-of-state transaction. So that your property doesn’t remain on the market for too long, your agent should be skilled at working remotely with customers and capable of efficiently selling properties. Not just that. Look for someone who is Pricing Strategy Advisor (PSA) Certified and good with technology.

To help you get started in hiring potential listing agents, here are some steps to consider. Remember that you’ll spend a lot of time with this agent, so you must get along well.

  • Check out their ratings and comments.  
  • Inquire about their strategy for reaching customers in other states.  
  • If they have worked with out-of-state customers before, ask them about it.  
  • Inquire what they would accomplish to increase better the property’s market value.

Your real estate agent should be your first point of contact when trying to attract out-of-state prospects. When you are ready to sell your home, connect with Axisidahorealty.com or one of the other credible real estate websites to get in touch with a top agent.  

2. Stage Your House

In today’s real estate market, improperly staged homes are missing a vital aspect. Because of rapid market changes, you can’t afford to let your house fall behind. Homebuyers are more likely to choose a staged property over an unstaged one if the two are otherwise comparable. 

Since you’ve presumably already moved, you’ve probably finished packing your belongings. Hiring a professional stager to rent some furniture and arrange it in the house might help increase its appeal to potential buyers and speed up the selling process. Here are some suggestions if you want to do it without a stager:

3. Start With Curb Appeal

It’s best to make a good first impression, so ensure that potential buyers like your property the moment they see it. Here are a few recommendations: If you need to clean something thoroughly, consider renting a pressure washer. It’s a good equipment to use a bright color on the front door and shutters, but you should still ensure they go well with the rest of the house. Get rid of the old house numbers, lights, mailboxes, and mats, and replace them with new ones. Remove old mulch and clean the edges of flower beds.  

4. Remove The Clutter, But Don’t Go Overboard

Get rid of the boxes on the dining room table and the other items that make your home feel too small, but don’t go overboard. When selling a home, many inexperienced sellers make the mistake of decluttering too much, which can rob the house of its unique personality.

After arranging the furnishings, ask your representative to take professional shots. You may also want a drone to get aerial images and videos of the house’s exterior and the surrounding area. But if you wish to get a truly outstanding picture, you should get a drone or hire a drone service. As a result, potential buyers will pay more attention to your property’s listing and have a more favorable view of the house during virtual tours.

5. Consult With A Tax Specialist

When dealing beyond state boundaries, you’ll have to deal with an even more complicated taxation system. The amount of tax you have to pay depends on the local legislation.

Take this case as an example:  

Let’s say you live in Montana and are in the process of selling a property in Idaho, the sale of the property must benefit both states. You are subject to Montana’s state income tax since you are a Montana resident. If you have to pay taxes to both federal states, you can get your money back from one of them.

Tax regulations are jurisdiction-specific. If you have issues with this, you should seek the advice of a tax attorney.  

6. Price The House Competitively

The first and most crucial step in selling a home is setting the right price, whether you’re selling it out of state or not. Overpricing the house increases the likelihood of sitting it on the market for a long time. However, you’ll leave money on the table if you list the home too low. You can expect the best price advice from a qualified real estate agent. Consider the recent sales of similar homes in the area to help you set a competitive price for your own house. Consider the home’s size, footage, geography, features, and amenities while evaluating it against similar offerings. To set a reasonable asking price for your house, you should research a wide variety of comparables.

More importantly, make sure your potential buyers understand the market conditions. A qualified agent can help do this. The potential buyers need to be aware of how competitive a market is and whether or not they should prepare for bidding wars. If they have a deeper understanding of the market conditions, they are more likely to make an offer on a house that is a good fit for them.  

7. Manage Marketing

Consider tenants as potential buyers at all times. A majority of renters eventually end up wanting to become homeowners. Therefore, consider distributing flyers in heavily rented areas. If you advertise your listings by direct mail, potential buyers may contact you directly.

Marketing online is easier and more effective when selling out-of-state properties. A local agent is a go-to person for coordinating showings and other marketing aspects. Social media, internet ads, and open houses all fall under this category. Your real estate agent may set up a ‘virtual open house,’ or a live-streamed guided tour, so you can partake in the open house and answer questions even if you can’t physically be there. These can be broadcast live on platforms like Facebook or Twitter or uploaded on YouTube for later viewing and use quality videos. You should also consider doing the following when doing online marketing:

8. Demonstrate Local Knowledge

Homebuyers are looking for hyper-local content to learn more about the location they are interested in. They evaluate information on several topics, including restaurants, grocery stores, schools, government regulations, local taxes, and tourist attractions. Blog postings, video tours, infographics, and maps are all appropriate mediums for these concepts.  

9. Employ Virtual Staging

Staging a home online can help you save both time and money compared to traditional methods.  

Moreover, never overlook potential buyers from out of state when selling a property through any method: land company, estate agent, classifieds, online marketplaces, or even word of mouth. It makes no difference where a buyer hails from because a buyer is a buyer. 

If your real estate agent isn’t handling this, you should look into hiring a professional marketer.

10. Get A Cash Offer

If you want to sell your house quickly or don’t want to deal with any stipulations, a cash offer might be your best option.

If you realize that you lack the resources to carry out all of the measures previously mentioned, you may not get the best price for your home or sell it as quickly as possible. It is especially true if you are unable to or have no prior experience selling a home.

You could look for a company that invests in real estate and pays cash to purchase your property. It’s easy to begin; call them, and they’ll inspect your home to come up with a cash offer.  

11. Plan The Closing

It is not always possible for out-of-state sellers to return for the closing. But don’t worry; closings happening over great distances are common.

One approach is to appoint a local representative as your Power of Attorney so that they can sign the closing documents on your behalf. Everything can also be taken care of via the mail if preferred. The title company will mail you the necessary paperwork for you to sign in the presence of a notary public. They will also provide an overnight shipping label to return the signed documents. The title company may, for an added cost, even deploy a remote closer to your location. However, this will depend on the specifics of your situation.

Conclusion

It can be extra challenging to sell a home from out of state. But with the proper planning and guidance, selling a home from out of state is possible. Using these suggestions can make this procedure go more smoothly and swiftly.