Serious Real Estate Challenges for Serious Relocation Buyers (Part 2 of a 3-Part Series)
In this series we are discussing issues related to relocation – challenges and things to think about.
In Part 1 we discussed the issues of (1) searching for that new home; (2) using a qualified, knowledgeable REALTOR, and (3) doing your due diligence. If you missed this post, you can read it here >>> Serious Real Estate Challenges for Serious Relocation Buyers (Part 1 of a 3-Part Series)
Here are some other important matters to take into account in your relocation planning.
THE DISADVANTAGE OF DISTANCE
If you don’t know the area, and you aren’t nearby to readily tour homes that come on the market, you may miss out on some properties that might be suitable, especially in a competitive market where listings go pending quickly. House hunting trips are essential, and you can cover a lot of ground in a few days provided you are willing to do so, but a lot can happen in the time between trips.
Homes you find that are of interest may be gone by the time you arrive for a house hunting tour. Some relocation buyers, once they have toured enough, are comfortable making offers on homes based on the Internet and additional photos, videos and information from their local REALTOR.
TIMING CAN BE A CHALLENGE
Timing a new home purchase with a closing on your current home is always a challenge, and many people need to close on their current home to be able to buy the new one. This may become more complicated with a relocation over a long-distance.
Finding a home you can close on that will coordinate with the sale of your other home can be tough; some sellers may not be willing to wait, or cannot close as quickly as you want or need. Some homes may not be suitable to consider if timing is paramount, such as a short sale, unless you are able to wait many weeks or months and can make temporary living arrangements.
A move across the country with furniture takes time – a week or more based on my multiple moves, at least for your household stuff. Consider a short term furnished rental if you cannot coordinate closings, as one option, or a hotel.
Stay tuned for the fianl part of this series where we will talk about flexibility, financial and lifestyle change inssues in your relocation.