There are a variety of reasons why you may decide to sell your vacation home. Some second homes are viewed as investments, and at some point you may find a better investment opportunity. Alternatively, you may outgrow your second home, or you might just be ready to move on to new travel experiences. When you’re ready to sell your vacation home, a strong marketing plan can help to attract the best price, even if you’re listing the property from a remote location. Here are some tips to keep in mind when selling a second home from afar.
Market and Sell Your Second Home Online
The ability to market and sell your home online is a distinct advantage when trying to sell from afar. You can easily write up a detailed listing and upload great photos in order to effectively put your home on the market in minutes. And aside from advertising, a lot of the selling process can also be managed online. Interested buyers often contact sellers via email with questions or to make appointments for a showing, and if an offer arrives, negotiations can be handled through electronic communication.
Engage the Help of Your Association
Many Florida properties fall under a condo or homeowners’ association. If that’s the case for your second home, and you want to sell the property, be sure to leverage the assistance of your association’s board members or your property manager. Potential buyers who have previously rented in your complex will be familiar with the property. These buyers may initially approach the association when looking for a new place to call home. By letting your property manager know that your house is on the market, they can assist by pairing you up with interested buyers. Associations can also spread the word about your home via their website or community newsletter, or by posting an advertisement on community billboards.
Plan Ahead for Showings
With the median days on the market for Miami condos averaging just under two months, you’ll need to anticipate multiple showings during the listing period. If you opt to sell your second home from another location, you’ll need to work out a process for walk-throughs and showings. A neighbor or other friend in your development may be willing to help you show your home to prospective buyers. Even if you haven’t had a showing in a while, it’s a good idea to have someone walk through the home occasionally to ensure that nothing is amiss. You may even want to consider paying a cleaning service or other contractor to check on your house or provide access for showings.
Track the Real Estate Market Online
Another way to ensure that the sale of your second home is successful is to keep up with the real estate market in Miami. You can look at recent comparables to learn what similar homes have been selling for in your development or neighborhood. If your home isn’t selling, or requests for showings seem a bit sluggish, you may want to reconsider your asking price in light of changes in the market.
Close the Deal
Once you find a buyer and agree on a price, you’ll need to work toward settlement. If you cannot attend the closing, you’ll need to make sure that all administrative duties, including granting power of attorney, have been taken care of from afar. Many title agents in Florida are accustomed to what are known as “mail-away” settlements, and they will be able to help walk you through the process. After the sale, make sure you receive the correct paperwork in addition to the monetary funds. It’s also a good idea to consult a tax adviser regarding federal and state taxes.
Selling a second home from afar can be challenging, but with the right support network in place, it’s possible to find a strong buyer and take advantage of the current market. With plenty of resources right at your fingertips, you can successfully market your Miami property even if you’re not currently living in South Florida.
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