Are you retired and decided to buy a house in Florida but have a house in Maryland that needs work and you want to get rid of it, sell as is, and don't worry about repairs? Ot maybe you are urgently being relocated due to work and will be out if state for awhile and need to sell your house in Maryland? We can help!
Selling a house is rarely easy — but it helps if you’re physically nearby to coordinate repairs, approve paint colors, or pop by during your lunch break to check on things. People selling a home from out of state don’t have that luxury. However, they can get the job done in one of two ways.
A skilled real estate agent can guide you through how to sell a house from out of state, providing an elevated level of service.
Another option is to work with a company that buys houses for cash in the area. While you will likely receive a lower offer than if you listed, you also eliminate the need for home preparations and repeated showings that can be difficult to arrange from afar.
Let’s take a close look at the process of selling a house from out of state, as well as your options.
Why sell from out-of-state?
30% of people who recently purchased or sold a home moved to a different state from their previous residence. The reasons are varied, but there are some common threads.
One of the more common reasons for an out-of-state sale is a corporate relocation. In 2023, almost 11% of movers relocated for work or because of a job transfer.
For those employees who still need to be tied to one location, your employer may ask you to relocate, often without much notice. That’s especially common among members of the military.
Sometimes these are classified as REOs, or real estate-owned properties, because they’re now owned by a bank, government agency, or other lender.
Sometimes a property has to go through probate to be sold. The term probate refers to the legal process through which the loved one’s will is reviewed, and a representative or executor is appointed to administer the will and distribute any assets — or, in some instances, to make arrangements and disbursements and distributions from the estate in the absence of a will.
Probate recognizes whether a will is valid and appoints an executor or personal representative to administer the estate and distribute assets, including any real estate assets. You don’t have to live near the deceased to be named an executor or estate representative.
Individual investors own roughly 70% of the rental housing market. An investor may want to divest their property completely or roll the profit into another investment. In this case, an owner may never have been to the home, or it’s been a while since they’ve seen it.
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During what can be a months-long process, some sellers may find the process of listing and managing a property from a distance to be overwhelming. While you’re trying to crush it in a new job or make family dinners, you’re also responding to texts and phone calls from the stager or approving the details for a home that might as well be on another planet.
To reduce the typical headaches of selling a home long distance, consider requesting an offer from a house-buying company that purchases homes in the area.
Here’s how selling your house for cash typically works:
Step 1 — Decision: A homeowner, perhaps selling from out of state, decides not to list their home and seeks a way to sell off market.
Step 2 — Contact: A seller contacts a company that buys homes in their area and provides some basic information about their home (though some companies will contact sellers about buying their home.)
Step 3 — Preliminary offer: At this stage, some house-buying companies will provide a preliminary offer subject to change after a house assessment.
Step 4 — Assessment: The company schedules a walkthrough of the property (sometimes virtually) to evaluate its condition, usually within 24 to 48 hours.
Step 5 — Firm offer: The company makes a firm offer (usually within 24 hours, sometimes on-site after the walkthrough) which you can accept or decline. Most of these companies will not negotiate on price, so the offer is a take-it-or-leave-it scenario.
Step 6 — Closing: If you accept the offer, you and the company will each sign the contract, and closing will begin. Some companies offer a large deposit and a few may even pay for the home upfront.
Step 7 — Payment: The seller receives payment quickly, typically within seven days to a few weeks. This can vary by company, and sellers who work with a house-buying company often enjoy flexibility in selecting a move-out date that works for them.
I’m out of state. Is it worth selling to a cash buyer?
Selling to a cash buyer like Easy Outs Homes offers several conveniences,
these companies can provide a quick and flexible closing, reduce or eliminate the need for repairs, and in many cases will cover all of a seller’s closing costs. So it’s all about weighing the trade-offs and determining what’s best for your situation.
What real estate agents do when a seller is out of state
Maybe you’re hesitant to accept a cash offer or are still on the fence. Perhaps your top priority is to maximize the value of the offer.
Let’s review another approach you could take when selling a house from out of state: hiring a top-rated real estate agent to coordinate the transaction and lighten your load.
If you have a real estate agent who knows how to sell a house with an out-of-state owner, you won’t need to worry about whether you should visit the property every step of the way.