Long-Distance Homebuying Tips for a Smooth Move

The journey to homeownership is anything but dull. Whether you're searching for your first home or your next, the process overflows with anticipation and humble dreams of new beginnings. 

But what if you're miles – or even continents – away from your future front door? For military personnel on deployment, expatriates, or anyone relocating from a distance, purchasing a home sight unseen is not only possible but increasingly common these days. 

With the right preparation (and trusted professionals by your side), you can confidently navigate the remote homebuying process. Here’s how:  

Step 1: Get Your Finances in Order 

The first step in buying a home “remotely” is ensuring your finances are in top shape. Start by reviewing your credit score, understanding your debt-to-income ratio, and determining your budget. You can even utilize online mortgage calculators to estimate what you can afford.

For military personnel, consider exploring VA loans with your local lender, which offer benefits like no down payment and competitive interest rates.  

Expert Tip

To apply, you'll need a Certificate of Eligibility (COE), which verifies your service history and eligibility for the loan. 

You can obtain this through the VA's eBenefits portal or have our team assist you.  

Round out this first step by gathering necessary documents, such as pay stubs, tax returns, and bank statements, in advance to streamline the pre-qualification and pre-approval processes.  

Step 2: Choose the “Right” Real Estate Pro 

Having a knowledgeable real estate professional in your corner is crucial, especially when you're not physically present to experience every phase firsthand. Seek out agents with experience in remote transactions and, if applicable, military relocations. Agents with Military Relocation Professional (MRP) certification understand the unique needs of service members. Just ask our team for more details on that! 

An agent typically serves as an advocate, providing virtual tours, detailed property information, and neighborhood insights. They'll coordinate with other professionals involved in the transaction, ensuring that everything progresses smoothly in spite of the distance. 

Step 3: Separate Your Wants from Needs 

Crafting a clear outline of your must-haves and deal-breakers will greatly help identify suitable properties for your situation. 

You’ll likely want to consider factors like the number of bedrooms, yard size, proximity to schools or public transportation, and community amenities. Communicate your preferences early to your real estate pros to streamline the search process. 

It's also helpful to create a list of priorities, distinguishing between essential features and those that are nice to have. This clarity will assist in finding homes that align with your vision and lifestyle. 

Step 4: Let’s Get Visual  

While photos merely offer a glimpse, virtual tours offer a more comprehensive view of potential homes. Request live video walkthroughs via platforms like Zoom or FaceTime to get a real-time feel for the property. And don't hesitate to ask to focus on specific areas or features during the tour.

Additionally, consider asking your real estate pro to record videos of the neighborhood, nearby amenities, and commute routes. Amassing a broader perspective will help you assess whether the area “fits” you.  

Step 5: Research, Research, Research 

Getting a true feel for the community is just as important as finding the right home – especially when you're buying far from (your new) home. Start by exploring online tools that can give you a solid sense of what day-to-day life looks like in the area. 

Research local school ratings, check out crime statistics, browse nearby amenities like parks and restaurants, and look into any planned developments that might impact property values or quality of life down the road. Tools like Google Street View are also a great way to take a virtual walk around the block and get a sense of the neighborhood's overall vibe. 

If you’re lucky enough to have a friend, coworker, or family member nearby, ask them to do a quick drive-by or even walk the neighborhood for you. They can report back on things like traffic noise, curb appeal, and the general atmosphere.  

Step 6: When in Doubt, Plan a Visit (if Possible) 

And if circumstances permit, consider making a brief trip to tour top property choices in person. Even a short visit can provide peace of mind and a tangible sense of the home's ambiance and condition. 

Having someone you trust, like a friend or family member, attend showings on your behalf can also be beneficial. They can provide honest opinions that you genuinely trust, along with observations that complement the information provided by your agent. 

Step 7: You Found the One...Now What? 

You did it – you found the one, made an offer, and it was thankfully accepted. Congratulations! That’s a huge step forward. 

Now it’s time to shift focus to one of the final pieces of the puzzle: closing. Since you won’t be there in person, it’s pertinent to make sure everyone involved – your real estate agent, lender, and title or closing company – is fully aware of your remote status well in advance. Luckily, with today’s technology, handling a closing from afar is more doable than ever. Still, planning ahead is key to avoiding any pesky last-minute hiccups. 

Start by having a detailed conversation with your team about how the remote closing will work. Ask what documents can be signed digitally and which might require a physical signature. Get clarity on timelines, who’s handling what, and what you’ll need to have on hand (like a printer, scanner, or access to a notary). Your team will walk you through each step to make sure everything is completed accurately and on time, so you can focus on the excitement of officially becoming a homeowner. 

Step 8: Digital Details  

Because the majority of the process will be handled electronically, keeping a watchful eye on your email’s inbox is all-important to ensuring you don’t miss any important documents. Also, keep your phone handy in case your agent or lender needs to get in touch. If you're in a different time zone, it's especially important to be aware of deadlines for returning signed paperwork. 

Most lenders strive to make documents as digital-friendly as possible, but in some cases, you'll still need at least one physical signature. This can usually be handled with a notary public or through a power of attorney. But if you have any questions, our team will be there to guide you through any lingering questions.  

Step 9: Post-Purchase Expenses 

Lastly, be mindful of additional costs that may arise after purchasing your home. Expenses for furniture, appliances, repairs, and utilities can add up quickly. 

Budget accordingly to avoid financial strain. Setting aside a contingency fund can provide peace of mind and financial flexibility as you settle into your new home. 

Atlantic Bay e-Closings? 

In today's fast-paced world, the traditional mortgage closing process – requiring in-person meetings and extensive paperwork – can be a significant hurdle, especially for remote buyers. Recognizing this, Atlantic Bay has fully embraced eClosings, a digital solution that streamlines the closing process, making it more accessible and efficient for clients regardless of their location. 

eClosings offer numerous benefits: 

• Convenience: Sign documents from anywhere using a computer or mobile device, eliminating the need for travel or time off work.  

• Efficiency: Reduce the time spent on paperwork, with the potential to complete closings in as little as 15 minutes. 

• Accuracy: Minimize errors with digital prompts ensuring all necessary fields are completed.  

• Security: Conduct transactions in a secure digital environment, safeguarding your personal information. 

Atlantic Bay offers three types of eClosings to cater to different needs: 

1. Remote Online Notarization (RON): Complete the entire process online without any in-person interaction.  

2. In-Person Electronic Notarization (IPEN): Sign documents electronically in the presence of a notary. 

3. Hybrid: Combine electronic signing with traditional wet signatures for certain documents.  

Expert Tip

eClosing availability may vary based on state regulations and specific loan programs. Your Mortgage Banker can guide you through the options best suited to your situation.

Atlantic Bay eClosings are smooth, fast, and offer a more convenient closing experience, allowing you to focus on all the excitement that comes with moving. Because your dream home is within reach, no matter the distance!