The prospect of buying a home is both thrilling and intimidating, especially for those venturing into the real estate realm for the first time. When the process is further complicated by the decision to purchase a home remotely, the experience can be downright nerve-wracking. Before taking the plunge, prospective buyers should acquaint themselves with crucial details to navigate this novel method more seamlessly. Below, we share essential tips for remote homebuyers, accompanied by industry statistics shedding light on the recent surge in remote home purchasing.
Opting for the entire home-buying journey to be conducted remotely undeniably offers unparalleled convenience. Whether motivated by a desire to avoid exposure risks or facilitating a cross-country move, this approach allows for a streamlined relocation without the need for physical travel. A recent survey indicates that 24% of consumers view virtual home buying as a viable and strategic option. However, it is essential to remain cautious of potential pitfalls, regardless of the circumstances.
First and foremost, securing preapproval for a mortgage is crucial, followed by enlisting the assistance of a seasoned real estate agent. These professionals can act as a representative on your behalf, ensuring that listing photos accurately portray the property and facilitating virtual home tours. An experienced agent expedites the search process by focusing on critical factors such as home layouts and school districts that align with your criteria.
The selection process for finding the right agent varies for each individual. Recommendations from friends or family, online searches for positive reviews, or choosing a top-performing agency in the area are all viable methods. Regardless of the approach, it is imperative to seek out an agent with expertise in remote selling.
With the groundwork laid, it’s time to embark on the home search. Given the current competitive market, you are likely to encounter rivals in the quest for potential properties. Notably, from February 2020 to the corresponding period a year later, monthly views of 3D walkthroughs on Redfin.com soared by 563%. Similarly, Zillow.com reported a 41% increase in traffic to its for-sale listings in 2020. These digital platforms have gained popularity, facilitating the remote buying process, and in 2020, 63% of homebuyers made offers on properties they had not seen in person.
As the process advances, the complexity grows. Initiating an offer on a home, contingent on an inspection, marks the next step. Upon offer acceptance, schedule an inspection and request to join the agent through a video call. The agent plays a crucial role in guiding you through due diligence steps and other intricate matters associated with closing on a house.
Upon successful closure of the offer, the focus shifts to planning the move. Identify reputable and reliable movers to ensure the safe transportation of your belongings to the new home. Whether the move is within the state or across the country, professional long-distance movers can significantly enhance your overall moving experience.
For more in-depth insights into remote home buying, please refer to the accompanying resource.
Infographic created by Master Movers, residential movers Venice FL