The next post in the series of Carlsbad relocation tips for finding your new home in Carlsbad is about working through the actual transaction from a distance.
Thus far you have learned how to find your REALTOR (Part 1), read some tips on finding your community or neighborhood (Part 2), learned about finding your home on-line, and then made 1 or more hose hunting trips to actually make the buying decision.
If you missed these important articles here are the links:
Part 1 - Finding Your REALTOR: Carlsbad Relocation Tips - Finding Your REALTOR, Finding Your Community and Finding Your New Home in Carlsbad
Part 2 - Finding Your Community: Carlsbad Relocation Tips - Finding Your REALTOR, Finding Your Community and Finding Your New Home in Carlsbad
Part 3 - Finding Your New Home: Carlsbad Relocation Tips - Finding Your REALTOR, Finding Your Community and Finding Your New Home in Carlsbad
Part 4: House Hunting Trip(s): Carlsbad Relocation Tips - Finding Your REALTOR, Finding Your Community and Finding Your New Home in Carlsbad
Perhaps you made an offer on your new home during your house hunting trip, it was accepted, and now that you are home you need to work through the process remotely. It can be done pretty easily, provided you are working with an agent who understands, and uses, technology.
In this day and age, handling a real estate transaction remotely is easy, with the right tools and cooperation from other parties in the transaction. Because you are at a distance you will need to rely on technology in order to meet deadlines and get all documents where they need to be.
Some points to keep in mind:
Timing is key in any transaction, with due dates and deadlines you need to meet. Relying on snail mail and overnight mail will slow things down. You may not have much choice depending on your own use of technology, and other parties.
Communication is essential to staying on schedule, since you have to rely on mail or technology to deal with the paperwork. Making use of voice mail and text messaging can help you and your agent stay in touch at all hours of the day and night. This is especially critical in you are in a different time zone or out of the country.
Let your REALTOR know of any travel plans when you may have limited access to communication or your computer. And make sure your agent has all of your contact info - cell phones, fax, email, work and home phone - and that you have your REALTOR's as well.
If you are a big tech user you will be at an advantage. If not, make sure you let your agent know what you are comfortable with, and the equipment you have access to. If you do not use email, for example, or there is no computer at home, knowing this will help your agent plan more effectively on how to get documents to you.
Have a road map of some sort so you know what to expect, the timing, and the forms you will be dealing with, especially when buying in another state where the processes may be different. A good relocation REALTOR can guide you through all of this easily and keep you posted on what to expect and when.
Some Useful Tools:
Email is not only for asking or answering questions about the transaction (with a written record and time and date stamp) but providing information to escrow, your agent, or your lender, and scheduling appointments. Email allows other parties to send you documents you need to review in pdf format (disclosures, home inspection reports, escrow instructions) rather than relying on a fax (which is a second but inferior option) which deteriorates the quality of the documents, or sending by snail mail which is slow and costly.
You can print out the docs that need signatures and return them by scanning and emailing (best) or fax. Original signatures are often NOT required but check to make sure as this varies.
Be prepared to send and receive lots of email - it's easy for me to have hundreds associated with 1 transaction.
These are great as they all of this - print, scan and fax. Storage is a breeze on your-computer, but back-up hard copies are important, too. (I keep copies of every document on my computer and provide a CD of all the files associated with the transaction to my clients once complete). You can scan stuff you need to send to you lender and agent in a snap.
Using an on-line/electronic signature service like Docusign makes approval of documents a breeze. If used, this will be initiated by your agent, and everything can be sent via email, reviewed and "signed" on-line without having to print out. You "sign" the document where indicated then send the document on its way. All parties can receive and sign documents in this manner in a matter of a few hours or less.
Another plus to electronic signatures? They are good for the environment.
While electronic signatures are much more widely accepted I did have a lender recently who would only accept a "real" signature (copy was OK).
TRANSACTION MANAGEMENT SYSTEMS
Systems like Relay can allow your agent to keep you abreast of what is going on with the transaction. You will have a logon and password and have access to documents that are in the flow as well as what has been accomplished and what has not.
In Part 6 of this Carlsbad Relocation Tips series we will discuss preparing for your move - dealing with movers, relocating with kids and pets, and much more.
If I can provide more information about Carlsbad real estate and surrounding areas, or the housing market in general, or otherwise assist you in your homes search, please contact me by phone or text at (760) 840-1360 or email me at JDowler@remax.net.
All content copyright © 2009 Jeff Dowler Carlsbad Homes and Real Estate Tidbits