Buying A Condo Long Distance
The process of purchasing a vacation condo can be a complicated and stressful experience, but if you have to purchase a vacation or rental property in another city the experience can become even more complicated. Whether you are relocating for a job, retiring to a dream location, or looking for potential AirBNB or VRBO properties, purchasing a home long distance has a whole separate to-do list on top of the already long list of things that need to be done to purchase a new property. Here are some tips to make purchasing a condo long distance a little easier, and still get the property of your dreams!
The Internet Is A Powerful Tool!
The internet is a powerful research tool for learning more about virtually any topic, and purchasing a home is no exception. From finding a REALTOR® to searching properties, the internet is a great aid in finding a home. It is also a great resource for finding information about potential lenders, home inspectors, and all the other extras involved in buying a home. Though the internet is a great resource in the real estate market, like any information you find online, it is always important to be sure it is coming from a reputable source. Finding websites that are run by professional REALTORS® or real estate organizations is your best bet for reliable information.
Hire A Local REALTOR®
Your best approach is to be sure you have an agent in your prospective area on your team early on. They can certainly direct you to some great online resources and help you determine which are accurate and up-to-date. They are also a great resource for finding out which condominiums would be a good fit for you and your financial objectives, and the property amenities that are available to you.
In general, buying a condo long distance can have its obstacles, but with a little research on your part and the help of a professional REALTOR®, you can make the transition to both a new home and a new city easier and stress free.
If you are searching for properties on the Space Coast of Florida, in Brevard County, please call Rick Houston, Waterfront Condo specialist with RE/MAX Aerospace Realty at 321-432-300 with your specific search criteria. He will email you current listings of properties within your budget.
Utilize Electronic Signatures and Mail Away Closing
Even if you live in another state, you can now easily buy real estate in Florida. Your realtor can now send all contracts and documents via email and you can sign using an "eSignature" with a click of the mouse.
When it comes to the closing documents, you can ask the title company to mail you the necessary documents and sign them in front of a notary public the day before the closing date. Then, you overnight the documents back to the title company for the closing day.
After Closing: How to Produce Income
After closing on your new condo, your REALTOR® then overnights the keys to you or delivers them to a rental management company. You can typically expect a rental company to charge a 10% fee and deposit all rental income directly into your account.
Or, you may decide to list your new vacation condo on AirBNB or VRBO websites and manage the property calendar yourself. In this case, you have new electronic keypad door knobs installed and hire a maid service to clean up after each guest.
Call or text Rick Houston with RE/MAX Aerospace Realty at 321-432-3000 to request a current list of condos for sale in Brevard County which allow nightly vacation rentals (hint: the list is not very long).