Buying a home is stressful enough, but when you are making such an important purchase in a remote location, the stress can increase. Here are Dean Graziosi’s tips for buying real estate from afar.
Whether you are moving from one location to another and can’t be there to actually search for real estate, or you are investing in real estate remotely, buying a home from across the state or country can be a very risky endeavor. The key is to hire the right agent and utilize the technology available so you don’t get scammed.
Begin by researching the area. It is important to know where your new home will be and what you can expect once you arrive.
The agent you choose is extremely important. You want someone who has a strong online presence and really knows the market. When you are buying a home that is located out of state, technology will play a very important role. Your real estate agent should be very familiar with the latest technology and the part it plays in the market.
Know how to use the Internet correctly when searching for your new home. Since the bulk of your home evaluations will be completed online, you’ll want to choose your websites wisely. You need to get a good sense of the neighborhood where the homes are located. Clear images of each home are also very important as are accurate descriptions with important details.
Learn the tax and real estate law in the state where you plan to purchase. These laws vary from one state to another so it is crucial to know this information. As noted in an article posted on Fox Business, an accountant should be able to answer all your questions concerning this topic.
Hire an inspector before doing any bidding. A home inspection is necessary no matter what, but since you aren’t actually there to check out the home yourself, retaining one on the outset is even more important. You want to make sure there aren’t any major problems with the home before putting down any money.
If possible, go view the home yourself. This is something you will want to do at least once. If you aren’t able to do this, ask someone you trust to do it for you. Since cellular phones are so commonplace these days, you could be an active part of the home viewing process by having the person call you while viewing the home. Think of it as a virtual walk-through of sorts.
Many people buy real estate remotely for various reasons. While it may present more risks, following the tips above can make the experience go as smoothly as possible with the fewest number of mishaps. Read more about real estate by visiting Dean Graziosi’s blog.