3 Tips for Selling a Home From Far Away
Whether you’re in the next state over or across the country, selling a home from far away can be tough. To pull it off, you’ll need to plan ahead and get some help from an experienced local agent.
If you know that you’ll be selling a home remotely, don’t wait until the last minute. It’s hard enough to sell a home, and being far away makes it even more difficult to prep the home. Here are 3 tips for selling a home from far away and making the sale a success.
Make sure you’ve lived in the home for at least two of the past five years
The federal government allows homeowners to sell their home without paying taxes on the first $250,000 in gain for singles, or $500,000 for married couples. But you need to make sure that the home has been your primary residence for at least two of the past five years. To benefit from this tax break, the sale of your home needs to close within the allotted time frame, so plan ahead. Otherwise, the home will be taxed as an investment property.
Follow the home’s market closely
Even from a distance, you can still monitor your home’s market easily via the internet. Put together a search of your property and keep an eye on what is selling in the area. Look at similar sized homes that go for sale and keep an eye on those listings. This will give you a better idea of how the market is reacting and see if your home is priced competitively enough.
Take advantage of open houses
The plus side of selling a home from far away is that it is no longer occupied. Take advantage of this fact and make sure your real estate agent hosts as many open houses as possible. You won’t have to be inconvenienced by having to leave the house…you’ve already left! Just be sure to have the house cleaned and landscaping taken care of every few weeks.