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How to buy a home remotely

How to buy a home remotely

With its pristine beaches, welcoming locals, and various outdoor activities, Los Cabos remains one of the top areas where people have expressed interest in purchasing Los Cabos houses for sale. Whether you’re staying put to escape the stresses of the world or are keen on buying a vacation home, Los Cabos remains open to fulfill your real estate aspirations. Even if you can’t be on hand to personally view the house and close the deal, there’s no need to put your luxury home buying dreams on hold.

Here’s how to successfully purchase a new home without having to check out the property in person:

Find the right real estate agent

The key to successfully buying a home remotely is by working with the right real estate agent. A good real estate agent can help you navigate the home buying process, especially during this time.

One important factor that you need to consider is the agent’s knowledge of the area you want to buy in. How well do they know the city, neighborhood, or community? What is it like to live there? While buying or selling a home remotely can be uncharted territory for some real estate agents, it’s important to work with someone who is flexible and open to learning about this new real estate process. In addition to determining real estate experience and knowledge, you also have to make sure that you’re comfortable with the agent.

Since you’ll be buying a home remotely, find an agent who will have your best interest at heart. Look for an agent who listens well. They should be genuinely interested in your home buying wants and needs. Other qualities to look for are honesty, reliability, and thoroughness.

Check out online reviews and testimonials from previous clients.

Create a house-hunting checklist

Like any other home buying process, a house-hunting checklist is a must. This makes your search for the right home a lot easier because you know what to look for and evaluate. As you create your house-hunting checklist, take note of your non-negotiables. Is a patio important to you? Easy access to the beach? How many bedrooms and bathrooms do you require? You can also note down preferences that you can compromise on as long as your non-negotiables are met. Architectural styles, for example. Or certain amenities.

Arrange a virtual tour

If you’re not comfortable with in-person home showings, it’s time to turn to virtual tours and showings. While listing photos do show the home’s best features, a virtual tour can give a more detailed and realistic look.

Talk to your trusted real estate agent and arrange for a virtual tour. This can be done through a private video showing using video chat or through any video conferencing app.

During the virtual tour, don’t be afraid to ask your agent to turn on the lights, open and close the doors, and look inside closets. This way, you can maximize the virtual tour and learn as much as you can about the property.

Research well

Since you can’t visit the house in person, get as much information as you can about the home. You can even use Google Street View to check out the surrounding area.

Aside from researching about the property, look into the other aspects of the home buying process. In Mexico, for instance, foreigners may encounter title issues when it comes to legally owning property. Foreigners who purchase residential property may need to go through a Mexican corporation or a fideicomiso (Real Estate Bank Trust). You also need to familiarize yourself with the required paperwork and the rest of the closing process in that particular area.

Include an inspection contingency

Once you’ve made an offer, don’t forget to order a home inspection. This ensures that you can negotiate repairs or cancel the contract depending on the home inspector’s findings.

Making an offer and closing

With technology, making an offer and closing on a home can now be done from wherever you are. While a traditional closing usually requires notarized signatures in person, there are plenty of ways to do it virtually. Through video conferencing, you can show proof of your ID for notarization, along with other documents. You can also ship documents back and forth through various couriers and delivery services. Find out which virtual options are legally acceptable in the area you’re buying.

Consult your real estate agent to find out the best plan for sealing the deal on the home of your choice. Your agent may also need to consult the lender and title company as well.

Planning to invest in Los Cabos real estate? Let Ian Gengos of Engel & Volkers Snell Real Estate help you navigate the home buying process. Reach out to me at +521.624.157.6323 or send an email to ian(dotted)gengos(at)engelvoelkers(dotted)com. My team and I would be more than happy to help you achieve your dream of living in this incredible area.