Long Distance Remote Home Purchase
Posted on 8/28/2019 by Erik H. Reisner
The process of purchasing a home from the initial search through contract negotiations, inspections, and finally getting to the closing table can be a very stressful and complicated process.
Compound that by doing all of this from 5,000 miles away with a four-hour time zone difference. And the icing on the cake for this challenge is the real estate market is red-hot in their price point.
Drew and Caitlin were faced with this challenge earlier this year. They both had accepted new jobs here in Vermont starting in August, and were faced with the challenge of finding and purchasing a home from Juneau, Alaska.
What started as a web inquiry soon developed into a collaborative effort to identify the right property in the Mad River Valley. Drew and Caitlin described their ideal home: 3-4 bedrooms, several acres, views, elevation, possibly an outbuilding with apartment potential, and equidistant between Barre and Winooski for commuting purposes.
We had a lengthy conversation about their needs, and I cautioned them that it’s very unpredictable as to what will come on the market, when, and that they’d have to be ready to act swiftly if the right property became available as inventory was low, and there were a lot of buyers in the market.
Less than 3 weeks later a home came on the market that checked all of their boxes. We scheduled a “FaceTime” showing just a few days after it was listed, and were informed that there were already two offers, and potentially a third.
I got to the property where there was very poor cell service, and I couldn’t get on the Seller’s WiFi. It was 10:00 EST and Drew and Caitlin were in Alaska where it’s 6:00 AM. We had until Noon EST to submit an offer. So I took a series of short videos and rushed back to my office and emailed them.
The house was pretty close to being ideal for their wants and needs, and I had no way of predicting what else might become available with such a perfect fit. So They put their best foot forward and we submitted a strong offer with a letter of introduction. After some negotiations we were able to get the house under contract!
Fast forward to today, and Drew and Caitlin are loving their new home and awaiting the arrival of their first child in a few months!
