The Secrets to Buying a House Out-of-State Without the Risk of Remorse
Relocating to a new area, buying a home in the new destination, coupled with an unfamiliar environment, can cause the relocation process to be a stressful experience. We're here to ensure it's stress free. In fact, time and time again we have helped relocation buyers find their dream home from thousands of miles away.
Here are some of the steps we recommend to get started:
Do Your Research Online First
Before you buy a home, you should always do your research. This is especially important when you're buying a home out of state. Getting to know the area, communities, and price ranges can make the process feel less overwhelming when you begin working with an agent. Even though you will have our professional guidance and expertise, starting the buying process with some self-education will make you feel more confident and at ease with your final buying decision.
Work With a Qualified Agent
The Realtor and Buyer relationship is an important one. When you're relocating or buying a home out of state you need an agent you can trust and rely on. Since you won't be in the area day-to-day, we will guide you through every step of the buying process. We'll take the time to really understand your specific wants and needs and be intricately involved in ensuring you make the best use of your time viewing the right houses.
Consider A Relocation Specialist
It's best to work with an agent that's a Certified Relocation Specialist.
As Certified Relocation Specialists ourselves, we've gone through extensive training to make sure your relocation is as smooth and enjoyable as possible. From connecting you with reputable movers, title companies, or local experts in the area, relocation specialists can help you with nearly every aspect of your move including both finding and negotiating your home purchase.
Be Aware of Scammers
Unfortunately, scammers often take advantage of out of state buyers. When looking at homes online watch out for deals that seem too good to be true. When talking to a seller, make sure the person is who they say they are and the home is real and actually on the market.
Scammers create listings for houses that are not actually for sale, using stolen images and attractive prices well below market value. This encourages urgency so out of state buyers will immediately make an offer. Once the offer is "accepted", a down payment is requested that's kept by the scammer who disappears and move on to the next victim. It's best to always work with a trusted realtor to avoid these type of situations.
Recognize The Difference Buying Out of State
Whether you've bought and sold a property before, you should be mindful that the relocation buying process will vary by locale. There's a standard buying process for each state. Certain states do inspections before going into contract, some afterward. Many out of state buyers are required to put a deposit on the home when their offer is accepted. This deposit can range from a few hundred dollars to even 10% or more of the purchase price. We will guide you on what to expect throughout the buying process here in Arizona.
Let Your Agent Be Your Eyes When Necessary
Ideally, you should plan to make trips to Arizona to explore the communities and view the prospective homes in person. But if you can't, don't worry, there are great options. We bring the homes to you. Our premier service to buyers includes guided custom 360-degree virtual tour empowering buyers to tour homes from the comfort of their home.
With this cutting edge technology, we have sold several homes to families across the country and Canada without the buyers viewing them in person. This can also be a great tool for you to see homes virtually before you plan and make the trip to view the houses in person.
Be Prepared to Submit an Offer
When you start your house hunt we want to make sure it's just a matter of time before you have the keys to your dream home. The last thing we want is for you to find a home you love and have an offer denied because you weren't prepared. Before you make the trip to Arizona to start looking, you should have all the necessary financial steps complete. That way when you find "the one" you are prepared to submit a strong offer!
A pre-approval letter with lender contact info or completed Arizona Pre-qualification form.
For a cash purchase, have written a proof of funds from a bank or investment company
Have a checkbook or access to funds from a national bank for escrow deposit.
Have your home listed or under contract prior to submitting a contingency offer if you're selling
If possible, plan to be present for the home inspection. This allows you to better understand potential issues & make your best judgment moving forward
It may be necessary to obtain a written offer of employment if you have a new job.
Complete Your Closing Remotely!
Closing! The exciting finale. You may feel anxious about the big move and making travel arrangements to sign the final paperwork, Guess What? You don't need to stress because you don't have to be there!
You can sign all the paperwork remotely. We recommend you work with a title company that has a national network so they know the protocols and can work in your current state and Arizona.
Need Assistance With Any of These Steps?
That's What We're Here For!
What bank should you choose? What lender should you work with? How do you obtain the documents you may need?
We are happy to provide guidance and referrals to contacts we trust from our professional network.