You can’t always predict where life is going to lead you. One day you might feel settled in your house and the next day circumstances could lead you to sell your house fast so you can move out of state. There are all kinds of scenarios that could lead to you moving out of state and needing to sell your home. You might have a sudden job change. Your lifestyle could be upended quickly. You might just decide it’s time to move. Whatever the reason, if the situation arises, most people would agree that selling your current house before you move is ideal. You don’t want to get stuck paying for two houses, especially if you’re not close to one of them.
Of course, that might sound easy enough but trying to sell your house before you move isn’t always a simple solution. And moving out of state before your house sells could prove tricky if you don’t have a lot of financial support beforehand. You usually need the money from the home sale to pay for the new home in your new state. So trying to sell your house fast on the housing market can be very difficult and trying to get the timing perfect is near impossible.
Selling your house for cash is the obvious solution when you need to sell your house fast and don’t have the time or money to put into repairs or cleaning. Selling your house to a cash buyer like Ocean City Development can solve a lot of headaches as you prepare to move to a different state. But however you decide to proceed, here are some tips for selling a house and moving out of state.
Tips for Selling a House and Moving Out of State
If you are trying to sell a house fast when moving out of state, there are some helpful tips that you can consider in order to make that sale quickly.
First and foremost, if you want to make a sale happen fast on the housing market, you’ll want to consider your price point. Setting your listing price in an aggressive starting place will invigorate market buyers and make it more likely that you’ll be able to get offers fast. You don’t have time to let the house sit on the market and haggle over negotiations. You need to price the house to sell ASAP.
The easiest way to figure out the right price is to look at comparable homes that are currently selling on the market as well as comparable homes that have recently sold. Once you get a sense of what the true market value for your house is, you’ll want to consider listing at or slightly below it, rather than pricing it higher and hoping to get more of a profit out of the sale. You could also try to price your house a little above the market value and roll the dice, but there are guarantees you’ll get the offer you want in the time you need.
Keep in mind that if you list your house on the market, you’re likely working with a real estate agent. Agents will take a commission fee for helping you to sell your house. So while you might end up taking less on the house sale while trying to move out of state, you’ll also want to factor in that your agent and the buyer’s agent will split a commission of around four to six percent of the sale price. So you’re really going to have to be okay with not making much money, if any, on the market sale.
Another thing you want to try to do is to try to time your sale right. Sell the house too soon and you don’t have a place to live before you move, which means you’ll incur extra costs like a short-term rental. Sell the house too late and you risk messing up your moving date and postponing your arrival, which could set a chain reaction of problems into motion. It’s hard to pull this off, but if you can work with the buyer on the timing of the sale so that it makes the most sense for you, that will pay off.
Create a House Selling and Moving Plan
When it comes to selling your house and moving out of state, the more planning you can do, the better. There’s no such thing as overplanning when it comes to this process because there are so many moving pieces and so many variables that you’re going to want to be prepared for anything.
The first thing you should do is create a timeline for your entire move. Many people suggest that you start the timeline at least two months before you move, if possible. This will allow you to figure out the ideal time to sell your house and the dates you need to hit in order to make your move on time.
Moving out of state is rarely a cheap affair. So make sure you’re budgeting for everything. It’s estimated that the average cost for a local move is $2,300 and the average cost for a long-distance move is $4,300. That’s a lot of money and part of the reason it might make sense to sell your house for cash so you have the funds you need to move. Regardless, put together a list of all your costs so you’re prepared.
If you’re selling on the market, you’re going to want to make sure your house is prepared for the new owners. You’ll want to make the appropriate repairs (or pay someone to make them), make sure the house is cleaned, and ensure that all the utilities, taxes, and HOA fees are sorted out. You can avoid a lot of these fees and costs if you sell your house to a cash buyer, who will buy your house as-is and handle all the repairs themselves.
Budget for Unexpected Moving Costs
As much as you might plan, there are often still unexpected moving costs that will creep up on you. It’s important to be aware of what they could be when selling your house and moving to a new state and be prepared for them. Some of these “hidden” costs that come with moving, especially for a long-distance move, include heavy item surcharges with movers, fuel expenses for your vehicles, parking tickets while you move in or out of your house, uninsured or under-insured possessions that break, packing supplies, pet-related costs, food, and unexpected stops and hotel stays. Make sure you build some buffers into your moving budget.
Negotiate a Rent-Back Until You Move
If you’re in a position where you have to sell your house way sooner than you’d like before your move out of state, you might want to consider a “rent-back” from the buyer. Essentially, this means the buyer purchases your house but agrees to let you live there until you move. You will pay the buyer to rent to live in your current house before leaving. This can be a really good solution for both sides, as it allows the buyer to feel secure in their ownership of the property and it also allows you to stick to your schedule. It might feel a bit strange to pay rent for the house you’ve lived in for a while, but it’s probably better than trying to find a short-term rental and all of the costs involved with moving and storing your items.
Sell Your House to a Cash Home Buyer
Time is often of the essence when it comes to selling your Massachusetts house before moving out of state. Not to mention that the costs involved mean you’ll want to have plenty of cash on hand to pay for them. If that’s the case for you, a great solution to ensure that you can sell your house on your own schedule and get cash for it is to sell to a cash buyer like Ocean City Development.
We’ll buy it as-is and give you a fair cash offer regardless of the current condition. Once you contact us, we’ll meet with you or take a look at the property virtually. Then, we’ll make you a fair cash offer based on the condition of the house without requiring you to make any repairs or clean-up. If you accept the offer, we can close the deal on your time, often within a matter of days. You decide when the sale happens so that you have the time you need and we’ll take it from there while you start fresh.
Flexible Closing Dates
One more option for you to consider when needing to sell your house for an out-of-state move is the flexible closing date. Ideally, this requires the market buyer to be flexible with their closing date. Feel free to ask them if they would be open to closing within a timeframe, depending on when you finally move. If they aren’t in a position where they absolutely need to be in their new house by a certain date, this can work.
Trying to sell your house while moving out of state requires a lot of planning, budgeting, and timing, but there are certainly options available to you to make it a smooth process. If you want to have the most flexibility possible and get cash for your house without having to make repairs, reach out to Ocean City Development today.