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Too busy to buy that second home in Myrtle Beach? No time to fly down and walk through multiple properties to find the one that's right for your family? No problem. You, too, can enjoy the dream of homeownership when you buy your next property remotely.
What Is Remote Home Buying?
When you buy a home remotely, someone else takes care of the specifics. Your main responsibilities are communicating your wants and needs to an on-site real estate agent, paying for the home and being available to sign the finalizing documents digitally. Because of this, buying a home that's located one state or half-a-world away is entirely feasible in today's real estate market.
Who Handles a Remote-Home-Buying Transaction?
You'll work with a real estate agent when buying a home through remote means. This is similar to any other home-buying venture. In a remote transaction, however, it's vital to have an agent whom you trust completely and with whom you have excellent communication. Your agent should be local to the area where you're buying your new home, and they should be an expert on the neighborhood. You'll communicate via phone, email or internet with your agent and will likely use an e-sign process, followed up by signed hard copies, when it's time to finalize.
How Do I Pay for a Home I've Bought Remotely?
Typically, you'll pay for a home you've purchased remotely by wiring the amount needed to close. Most people can't afford to buy a home using cash, but you'll likely need at least a down payment and other costs up front.
How Will I Know the Home Is a Good Deal?
The real estate agent with whom you're working will view the home, be present at inspections in your stead, and do their part to ensure that the home you're buying is viable. They will be able to advise you on comparable prices in the neighborhood to give you an idea of whether the price you're paying is reasonable.
Why Would I Want to Buy a Home Remotely?
Most people who buy homes remotely do so because they're too busy or live too far away to buy the home in a traditional way. There's little risk involved as long as you use a licensed real estate agent who's experienced in remote-home sales.
It's good to remember that once you own a remote property, there's no backing out. It's vital to make sure you're buying a home that's well suited to you and your family. This is where your choice of real estate agent becomes vital in helping you choose the location of your home, the size, layout and community in which it's located.
About the Author
Richard Powers
Born and raised in Lynn, Massachusetts, Richard has been a successful Real Estate Agent, specializing in the Greater Lynn area for 28 years. He was awarded the prestigious Centurion Award for 19 years in honor of his outstanding number of listings and sales and was the recipient of numerous Diamond Awards for exceptional sales and service.
In his spare time, Rich enjoys golfing, hiking with his dogs and practicing Karate, in which he holds a second-degree black belt. He also enjoys volunteering for various animal rescue groups with his wife of 33 years and is especially dedicated to supporting Faithful Companions, a local non-profit group that helps families in need receive life saving veterinary treatment for their cherished pets.
The next time you need an experienced Real Estate Agent, be sure to give Rich a call. His professionalism and knowledge of the Real Estate Industry are unrivaled.
