Home sales continue to be quite strong despite the economic impacts of the ongoing coronavirus crisis. One of the strongest markets in the country is Salt Lake City. There, builders cannot keep up with demand. Existing homes are selling as fast as they go on the market. It is all due to an economy that relocating businesses find attractive. Salt Lake City is also home to a robust remote buying market.
Buying a home remotely was virtually unheard of just a decade ago. A family looking to move out of state would generally split up, with one going out ahead to find a new home while the other stayed back and sold the existing home. That no longer has to be the case.
Technology allows real estate brokers to offer virtual home tours via smartphones. Written information can be viewed online or via electronic documents. And of course, there are plenty of pictures. We are so used to doing things remotely that many people do not think twice about buying a home that way.
If a remote purchase in Salt Lake City is in your future, local real estate brokerage CityHome Collective has some helpful tips. The tips would actually be useful no matter where you intended to buy.
Utilize an Experienced Agent
It is a mistake to assume that all real estate agents have experience selling homes remotely. Make a point to ask your agent specifically how many houses they have sold remotely. Furthermore, ask for references. Follow up with them to get a good feel as to the agent’s remote performance.
You will also want to know about the agent’s overall experience. How long have they been in the business? How many transactions do they close annually? The more experience your agent has, the more likely they will find exactly what you are looking for.
Consider Different Schedules
You and your real estate agent might be on different schedules. If you were buying in Salt Lake City from your current home in New York, there would be a difference of two hours. Your 9 AM would be your agent’s 7 AM. You need to be aware of the time difference so that you can schedule remote meetings and viewings accordingly.
Ask About Home Inspections
It is in your best interests to have your real estate agent attend the post-offer home inspection. Agents specializing in remote sales generally do so as a matter of course. Others who only dabble in remote transactions might not. It’s up to you to ask about this service before signing a buyer’s agreement. Make sure you get it in writing.
The point of having the agent present is to make sure a proper inspection is done. The last thing you want is for the inspector to give the property a cursory look knowing that you have never seen it yourself. It is critically important that you be able to trust what the inspector tells you.
Consider a Second Pair of Eyes
You might be moving to Salt Lake City for a job. Do you have family or friends already living there? If not, perhaps a coworker might be willing to lend a hand. The point is to see if you can find a second set of eyes; a person who can physically view the home on your behalf. That person might be able to identify things you would otherwise miss during the remote showing.
Buying a house remotely is not as far-fetched as it sounds. In fact, it is becoming increasingly more common. It is the way the whole world seems to be going at this point.