Tips for Selling Your Home Remotely

Selling your home is challenging regardless of circumstances. But when you have to sell your home remotely, it can prove to be extra tricky. Take a look at the following tips for selling your home remotely.  

Select a Top Real Estate Agent

Finding a top real estate agent in the local area of your for-sale home is a key step to successfully selling your home long-distance. You need a Realtor that communicates promptly and thoroughly regarding prospective buyers and updates to the local real estate market. Additionally, consider how you’ll have the documents sent back in forth when it comes time to close the sale on the house. Will you be mailing or sending them electronically? If electronically, be sure to find a Realtor that can handle sending documents electronically and has digital-signature technology available. Meeting the right real estate agent before you move, and developing a good relationship with them is key to seamlessly selling your home remotely.

Research the Local Real Estate Market (and Keep Tabs on It!)

Research prices of similar homes in your area to get a range of prices (both high and low) to understand what a fair price is for your house. Keep tabs on the prices of homes after you move because you may end up adjusting the price according to fluctuations in the housing market.

Determine Your Motivation Level for Selling Your Home

Set a date range of when you want to sell your home by. Having a set timeline will help you determine a realistic home price. If your situation allows you flexibility on how long your home can be on the market, you can remain firm on your asking price if low offers are given right away. However, if you need to sell the house quickly, you may have to set the home price lower than the going-rate in order to sell it faster. Factors such as the desirability of the neighborhood, housing market, and more will also determine the attractiveness of your house, so it’s important to keep those in mind.

Take Advantage of Tax Benefits from Your Home Sale

If you have lived in your home for two of the last five years, you are eligible to profit off of the sale without having to pay any capital gains taxes. As a single tax-filer, you are able to profit up to $250,000 without paying any taxes on that profit. Married couples won’t have to pay capital gains taxes on a house sale profit up to $500,000. Therefore, if you are on the brink of reaching two years of permanent residency in your home, consider stretching the sale out until you have reached the 24-month mark.

Selling your home when you live out of town or even out of state can be challenging to say the least. However, each of these tips can help you overcome the distance while your house is on the market.