5 Tips To Sell Your Out Of State Home In Syracuse NY
Selling your house in a traditional manner can be difficult enough.
Trying to sell your home out of state can be even more of a hassle.
When your home is empty, you can see holding and maintenance costs continue to add up.
Whether you were put into this situation because you inherited a loved ones property, you were forced to relocate due to work, you have recently been divorced, are selling a second home or you went on vacation and decide to never come back. There are a few simple tips, that can help relieve some of the pressure of selling your home out of state in Syracuse NY.
Our main goal when trying to sell a home out of state is to get the best price possible in the least amount of time. This will help us avoid carrying multiple mortgage or paying absurd holding costs throughout the sales process.
1) Choose How You Will Sell
Our first line of action is going to determine which vehicle we want to use to sell. Will we test the waters and list our home with a realtor, decide to sell for sale by owner or go the quick and easy route and sell to a real estate investor. What option you choose will determine how you will handle the selling process. However, there are many variables that will effect which option you decide to choose. First look at the real estate market conditions - are we in a buyers market or sellers market? Next we have to look at the condition of the home - is it great, average or poor shape? After that we want to look at the location of the property - is it in a valuable location or low income area? All of these questions will help determine which option will be best in providing an end result of a reasonable sales price in the shortest amount of time.
2) Price It Right
No matter the situation, when it comes to selling your home - pricing your home right for the sale is one of the most important aspects of a successful sale. This is even more important when you are selling your home out of state. Depending on which selling option you chose, will determine how involved you need to be in the pricing of your home. If you go the traditional route and list with a realtor, your realtor will be in charge of putting a price tag on your home. If you decide to list the home by yourself, you will need to run your own comparable market analysis to determine the right price for your home. If you decide to sell the quick and easy route, to a real estate investor- they will be in charge of the initial price offer and negotiations start from that number. So whichever route you end up choosing, just make sure you are comfortable with the price and that your home is priced to sell.
Since you are out of town and your home is now vacant, you will need to have a family member, friend or neighbor be your eyes and ears for the property while your gone. Make sure it is someone that you truly trust as you will be giving them a key to the property. You will have them check on the house and make sure there has been no vandalism or trespassing on your property. They can also report to you any suspicion around the house and be in control of contacting law enforcement. As you will be giving them a key to the property, they will be in control of showing your property to potential buyers, giving access to moving companies or anyone else who may need to get inside the home.
This is something that needs to be done to prepare for any sale that is taking place. You need to have your home free and clear of trash on the inside and outside. Anything that you will be leaving behind, be sure to contact a moving company to pack it up and move it out of the house. Once the house is clear, you can either have a professional cleaning company come over to prepare the house or leave it as is. This step obviously depends on w
hich option you chose to sell. If you are selling the traditional route or FSBO, this step is necessary. If you choose to sell to an investor then they will take care of any items that are left in the house.
5) Create A Plan
I know that this is the 5th step, but in my eyes it is the most important and complex step out of all of them. Once you find out that you will have to sell your home out of state, you should begin putting together a plan. The first step of your plan is going to be to educate yourself on all of the possible options you have to sell. Once you make a decision on how you are going to sell, it is now time to put together a plan for that specific option.
If you are going to sell with a realtor, devise a plan on how you will hire your realtor, what you expect, explain to them your situation. Figure out who you point of contact will be to watch over your house and if you are going to hire a company to clean and clutter your home.
If you decide to sell for sale by owner, things get a little more complicated. A detailed plan will be necessary since you will be handling all of the selling steps yourself. You will have to put together a pricing, marketing, repair and closing plan from out of state. If you are selling out of state in Syracuse NY, I do not recommend this option.
If you go pick selling to a real estate investment firm, then the first thing you should do is educate yourself on how this process works. You should google " we buy houses in Syracuse NY" or "Real Estate Investors in Syracuse NY" and evaluate each of the companies that show up. When dealing with a real estate investment firm, you want to know that you are dealing with a trustworthy company, who is truly looking out for you in the long run.
The process of selling your home out of state is never easy, but there are certain rules and procedures you can follow to help simplify the process. The best advice we can offer is to just be prepared. I know at this moment in your life, you have a lot of stuff going on and it will be hard to make time to create a plan but try your best. Once the sale of your home is off your mind, you will be able to focus on the next chapter of your life.
Comment below if you have had any experience with selling your home out of state in Syracuse NY and let us know what the results were, which options you chose and if you have any more tips for our readers.
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