Ideally, when you move, you sell your old home and buy the new one at the same time. But, often, the ideal is very different from the real. And the situation only gets more difficult and more complicated when you live out of state and have to sell a home in another state. But with some foreknowledge and preparation, it can be done fairly painlessly. So here’s what you need to know about selling your Beverly Hills home when you live out of state.
Hire a Stager
Multiple studies have shown that staged homes sell faster and at a better price than homes that aren’t staged. So the first thing to keep in mind about selling your Beverly Hills home when you live out of state is that you’ll need to hire a professional stager.
Obviously, you can’t do the staging very well when you live hundreds of miles away. Using a professional stager “can really make a huge difference on selling this home while you’re out of state and unable to do it yourself . . . By working with a stager (ideally one your agent recommends), your home won’t look like it was recently abandoned – a vibe that could turn off buyers.”
Price According to Selling Goals
Pricing correctly is one of the most important aspects of selling a home. And when you live out of state, it becomes even more important. It’s just that in this case, you have to think about your selling goals and price accordingly.
If you aren’t in a hurry to sell, you can price higher and see if the market demand will bear that price. But if you need to sell quickly, which is more common for sellers who live out of state, you’ll need a much different pricing strategy. You will have to figure out how to price so that you can still profit while selling within your desired timeframe.
Your real estate agent can be a huge asset in pricing according to your selling goals, especially considering that you won’t know whats going on in the Beverly Hills market when you’re in another state. To find out how a good local agent can assist you, call (310) 467-2277.
Have a Team and Let Go
Another important thing to know about selling your Beverly Hills home when you live out of state is that you’ll need a team. You will also have to relinquish control and let your qualified team work their magic.
Here’s what the pros recommend: “Avoid unnecessary back-and-forth during the sale by making sure your team has all the paperwork and documents it’ll need throughout the process. And make sure team members are aware of one another so that they know how to communicate without going through you. Be sure to hire a broker and a real estate lawyer while you’re in town so you can walk them through your property, give them your deed, etc., and make sure all involved parties have each other’s contact information . . . When you’re selling from out of state, you should have your game plan set from the beginning.”
And once you have a good team in place, you’ll have to give up some control. Trying to micromanage from another state is a recipe for disaster. Again, your agent can help you assemble a team that will do the heavy lifting for you.
Consider Out-of-State Closing Logistics
Perhaps the most difficult aspect of selling a Beverly Hills when you live out of state is the final stage in the process: closing. So you’ll need to consider the logistics of closing, especially since many attorneys will require your presence at closing.
If you live only a short drive away, that’s no real problem. But if it means buying an expensive plane ticket and taking time off from work, you may need to find people who are more flexible.
When you live out of state, industry experts advise, “pick a flexible closing attorney or title company . . . When you’re vetting the companies you are going to close with, ask them if you can sign the closing documents with a local notary present. If the buyer’s lender or your [agent] is choosing, have them make sure that you can close from out of state.”
Hire an Agent Who Can Handle It
Maybe the most important piece of the puzzle for selling your Beverly Hills home when you live out of state is hiring an agent who can actually handle this situation. Industry pros say that “you should be especially particular when hiring someone to handle an out-of-state sale. Your listing agent should be experienced in coordinating with clients remotely, and able to make a fast sale on your home so that it doesn’t just sit on the market.”