You may have received an irresistible job offer in a different state and have relocated without selling your house. You may have inherited a house from a family member. Whatever the reason, selling a home while out of state is not an ideal situation. Vacant houses are also subject to vandalism and theft which can get very costly so often times selling for  less than full value can often times put more money in your pocket than having to continue paying utilities, insurance, upkeep, repairs, etc.

However, there are certain options you can consider, especially if you want to avoid the credit damaging foreclosure and short sale options.

Hire the right team

A house needs continual upkeep, repairs and care. Find a professional to help you manage the house.  Don’t leave this to a friend or relative, as this almost always ends badly.

If you choose to rent the house while waiting to sell it, a trusted property manager is invaluable.

If you choose to sell through a realtor, make sure to choose someone who has experience selling houses while the owner is out of state.

Sell for the right price

Your realtor should be able to help you come up with a realistic number that does not price you out of the market and allows the house to sell quickly. You can also have a look at prices on comparable homes that have sold recently to get a more accurate idea of what comparable homes are selling for.

Stage the house

If your house is already vacated, hire a home stager who specializes in vacant homes to prepare it for sale. Over 85% of people cannot visualize furniture in empty rooms. A home stager can provide, or advise you on the presentation of your property, especially when you are out of state. They can help you utilize current furniture or else secure furniture and accents to warm up an otherwise empty house.

Auction the house

You can choose to place a reserve price on your house, which means that you will not take less than a certain amount for it. You can also take the highest bid regardless of what it may be, resulting in an immediate sale, also known as an absolute auction.

The advantages to auctioning a house is that you don’t have to worry about any contingencies. It is not subject to a home inspection, any repairs, or financing.

Sell to a property investor

If you would like to get the house sold as quickly as possible for cash, you can contact a property investor. Typically, investors offer to purchase a property “as is” which allows you to avoid any costly repairs. You may not get the highest price for your house but this is offset by the fast closing on your house, so that you can move on with your life.

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