Question of the week:

How do I sell my home from abroad?

So in a few months I will moving to a different location in the same city and putting my previous property for sale. Unfortunately just a few days after that I wanted to go on a trip for 2 months, but did not want to wait until I’m back to close on the sale if a realtor finds a buyer.

 

If I get myself a realtor and a lawyer, is there any way the transaction can be entirely completed while I’m away?

Nick Answers Reddit

Every week, Nick answers a Redditor’s question about buying, selling, renting, investing or living in Ottawa. Send Nick your own questions on the website, on Reddit or on a YouTube comment!

Nick's Response

Absolutely. In some ways it’s actually preferable.

Here’s the longer explanation, from how to go about your move to why it’s straightforward to do remotely:

  • Preparation is key. Contact your Realtor and Lawyer now to let them know about your plans, or interview candidates if you don’t have them yet. Meet them in person while you’re still here so that they can verify your ID and satisfy their FINTRAC reporting requirements.

  • Ask your Realtor to give you a detailed Opinion of Value now and an updated one closer to launch. With current trends in Ottawa, I don’t expect a big swing in average prices over this time frame, but it’s worthwhile having up to date data to make decisions.

  • Ask your Realtor to draft listing paperwork early so that you have time to review and ask plenty of questions prior to signing. They can do this with a mock offer as well, since new paperwork can be stressful if the first time that you see it is during an offer situation.

  • If you’re moving to another property that you’ll own and have a mortgage on this one, talk to your lender about the possibility of porting your mortgage, or at least the penalty for paying off your current one.

  • Find out what it will take to get your home photo-ready. That will vary from person to person, but when we list a home we take that to mean:

    • Meet with a stager

    • Get a pre-list home inspection

    • Deep Clean

    • Paint Touch-Ups and Small Repairs

  • Photos and Videos – Unless you’re planning on listing when there’s snow on the ground, you can reasonably plan to take photos and video of your home early when the yard and the exterior of the home look their best (if applicable). Your Realtor should be including all of these and the visuals should include:

    • HDR or Multi-Flash photography to give a “magazine quality” look

    • 3D Tour using Matterport or iGuide, plus floor plans that have measurements (very useful for a Buyer)

    • Video that tells about the property and the neighbourhood. The first thing that a Buyer is looking at is the area. Sell them on the lifestyle of that location and everything that you’ve grown to love about it. Slide shows with music is not video, and should be left in the 90’s where they came from

  • Everything can be signed electronically and remotely. After your initial meeting with your Realtor and Lawyer (and perhaps even without that) there is no situation where you have to be present. As I mentioned, in some ways it’s even preferable for you to be away:

    • Open houses can be held regularly while you’re away without disruption to you

    • Showings are “go and show” and easier to schedule than working around you or family/pets/tenants.

    • Electronic signatures are much neater and organized compared to print and scanned documents.

    • Bluetooth Lockboxes (iboxes) allow your Realtor to see exactly when showings start and end, and can restrict access to the keys at certain times.

Good luck on your move! As long as you have good professionals and are organized, this should go smoothly for you.

Source: I’m a Realtor in Ottawa. I hit the word limit for comments so if you want any explanation of the “why’s” of those points, just let me know.

3 Tools that you’ll use when buying or selling remotely

1

Electronic Signatures – Apps like Nexone, Docusign and Dotloop make it easy to manage signing and counter-offering on a home while you’re physically away.

2

Google Meet or Zoom – You can still have “face to face” meetings with your Realtor and Lawyer, which is helpful during negotiations. Your electrons can get together with theirs!

3

WhatsApp – Because WhatsApp only needs a data connection (not a cellular subscription) and works in your browser as well as your phone, it’s ideal for keeping in touch with your team while you’re away.

You might also like …

Neighbourhood Hotspots • Weekly Features — 2024/10/07

Ottawa Farm Fresh

#Neighbourhoodhotspots: As an Ottawa Realtor, I know a home is more than just a property—it’s about the…

Buying • Weekly Features — 2024/10/02

Common Problems in The Glebe: Foundation Cracks and Moisture Seepage in Early 20th-Century Homes

#CoffeeWithKarim

Buying • Selling • Weekly Features — 2024/10/02

Why Is Financing Taking So Long?

#NickAnswersReddit: This week, Nick addresses a Redditor’s concern about why their financing is taking l…

Get one-on-one advice