Ideally, homeowners should sell their homes while they’re still residing there or, at least, only a short distance away. It’s definitely so much easier to show and sell a home when they’re physically present. Negotiations can also be concluded faster when both the buyer and seller can meet personally to discuss the terms.
However, there may be situations when a homeowner has to sell their home while preparing to move or already residing in another state. Being out-of-state can make the selling process more complicated, but it’s viable. Here are some important things to remember for homeowners who are planning to sell their property while they’re out of state.
Why Sell from Out of State
As mentioned above, there may be instances when the seller has to move out of their home in San Diego and into another one outside the state quickly. Some of the possible reasons include:
- The seller needs to move for work.
- The seller is already living outside of California and is just the executor of the estate.
- The seller is already living outside of California and has inherited the home from a relative.
- The seller and their spouse are in the process of divorcing and are looking to dispose of their assets quickly.
- The seller is moving in with another family member who requires long-term care.
- The seller is moving to a residential care facility.
- The seller is getting married and moving to a new home.
No matter what major life changes precipitated the move, sellers may find themselves needing to sell their homes even though they’re not around to manage the process. It won’t be an easy undertaking, especially since various factors and considerations are taken into account.
The Costs of Selling from Out of State
Here are some of the costs associated with selling from out of state.
Although a real estate agent or broker will not charge the seller upfront for their services, their commission is hefty. In most states, the agent gets 6% of the final sale price.
Potential buyers are going to want to see and buy homes that are well-maintained and properly cared for. Before a sale, most homeowners usually need to do some repairs such as cleaning stained carpets or replacing broken windows.
According to a study from the National Association of Realtors, home buyers tend to pay more when the property has been properly staged. If they want to get more for their property, homeowners have to make the space look its best by staging it on their own or hiring professional home stagers.
It’s not required for sellers to get their property inspected for pest or structural damage since buyers usually prefer to hire inspectors that they trust. However, it might be a good idea for the seller to get an inspection before listing the home to check whether there are hidden problems that they’re oblivious to. This gives them the chance to fix any issues before buyers can use it to present a lower offer.
Potential Problems When Selling Out of State
Aside from the financial costs of selling out of state, sellers also have to deal with the following:
- Selling through the traditional route takes time. From finding a real estate agent to closing the sale, the entire process can take months. This isn’t the best choice if the seller is in a hurry to dispose of the property or if they need the money quickly.
- Leaving a home empty for months on end makes it more vulnerable to vandals, thieves, and squatters. It’s going to take a lot of time, money, and energy to legally evict an illegal settler.
- When unexpected issues — such as pipes bursting, roof leaks, pest infestations, or electrical problems — arise, and no one is there to resolve it quickly, it can quickly turn into an expensive and stressful nightmare.
Selling to a Cash Buyer
Selling a home while relocating or living in another state isn’t easy. Although there’s always the option of leaving the entire process in the hands of a San Diego real estate agent, this can take time, and most of the time, sellers don’t have the luxury of time.
Another option worth looking into is selling to a cash buyer. Cash buyers purchase homes off-market and typically don’t require lender financing to pay for the property. As the name suggests, most of them will pay for the property in cash. Generally, cash buyers offer an amount that is less than the property’s market value. Nonetheless, the lower offer is usually compensated for by the following benefits:
- The process is completed faster. Cash sales take less time to close since the buyer doesn’t have to apply and qualify for a mortgage loan.
- The transaction is less likely to fall through. Buyers who apply for a mortgage may get rejected by the lender, or they may not qualify for the amount the home is selling for.
- Cash buyers purchase the home on an “as is” basis. This means that the seller doesn’t have to go through the time-consuming and costly process of cleaning, repairing, and staging their home before putting it up on the market.
- Cash buyers usually give a firm offer. The seller can take it on the spot and get their hands on the proceeds of the sale in a matter of days.
Can I Sell My San Diego House from Out of State?
Absolutely. However, the traditional process is stressful, time-consuming, and expensive. This may not be the best choice for homeowners and sellers who are looking for a quick transaction so they can get on with their lives in their new home. In cases like these, choosing a cash buyer may be their best choice.
At I Buy SD, we pay cash for homes and can close in as little as seven days. We offer the best solutions for homeowners and sellers who need to sell my San Diego house out of state as quickly and as stress-free as possible. Homeowners don’t have to share the final purchase price with a real estate agent or undertake costly repairs and remodeling projects. They don’t need to travel back and forth to meet buyers or negotiate. We’ll handle all the work for them.
Contact us now to set up a consultation.