Definition
An out-of-state owner holds property in a state different from where they currently live, often as a result of inheritance, a past relocation, or a rental property purchased before a move. Coordinating repairs, cleanouts, and showings from a distance is both expensive and slow, especially when local contractors and agents need constant oversight. Fortunately, most out-of-state sales today can be completed entirely remotely, using mail, email, and mobile or online notarization instead of in-person meetings. This makes selling a much more practical option for owners who don't want the ongoing burden of managing a property they rarely see. It also removes the need to coordinate travel schedules just to attend a closing.
Example
After inheriting a house 900 miles from where he lived, Terrence Boyd had no idea how he'd manage repairs, showings, or a closing without taking time off work to fly out. A local agent told him a traditional listing would require multiple trips for inspections and walkthroughs, and Terrence quickly realized the travel costs and lost work time would eat into whatever he might gain from a higher sale price. Just estimating two round-trip flights and a week of missed work put him close to $2,500 before he'd even hired anyone. Instead, he got a cash offer based on photos and a local inspection the buyer arranged themselves, which meant he never had to hire an inspector or schedule a flight just to move the process forward. The offer came in at $174,000, and Terrence appreciated that it accounted for some outdated wiring the inspector flagged rather than requiring him to fix it first. He signed his closing documents with a mobile notary who came to his home, and received the sale proceeds by wire without ever traveling to see the property in person, wrapping up the entire sale from his own kitchen table. The whole process, from accepting the offer to receiving funds, took just under three weeks.