Advice on buying out of state home

[raty4R]

I am transferring to the north Dallas area, I live/ rent in San Diego. We are looking at buying our fist home in the Dallas area.
My situation with work is I have been there 16 yrs, be there till I retire in about 6 years. I have been to our Dallas office 4 times in the last 6 yrs. Usually for a week or more. Twice in the summer, once in late fall and once in early spring. I’m fine with the weather, traffic and area.
Do you guys have any best practices advice for buying a home from afar? Best way to find a good realtor, get a home inspection done, get a mortgage?
My relocation package includes money for purchase and closing costs, which is why I don’t want to rent first and then look around.

[UCGal]

Is there a time period on the relo package?

If so I would still urge you to rent (even if it’s a short term rental) while you get to know the areas, the traffic patterns, etc.

I’ve done 5 out of state moves… In one I had a full relo package – but it had a 1 year expiry date… I rented and was able to make a MUCH more informed decision on target neighborhoods, but still take advantage of the employer paying closing costs, inspections, etc…

[spdrun]

Also, the employer could end up being a total shitheel — why would you want to tie yourself to the area before you know them? This is like marrying a mail-order bride sight unseen. You might not know about her case of antibiotic resistant vd.

[raty4R]

I added more information about my situation to my original post.
Thanks for the replies.

[spdrun]

Makes more sense now. 🙂

[The-Shoveler]

The thing with TX particularity the Dallas area is your property Tax may be more than rent LOL.

A colleague of mine is paying over 16K a year property tax on her 300K home.

Make sure you know the property tax burden before you buy!!

The other piece of advise I got from her was to be sure to buy a home with a very small lot unless you plan to really (I mean really) farm it.

Good luck!

[Jazzman]

You can find a Realtor by posting in the Q&A section of Trulia. Trulia also has discussions about best neighborhoods, schools, etc. as does City-data. But the best website for home searches and quick responses is Redfin in my view. They will recommend inspectors etc. There is no reason why you can’t buy a home remotely. You can do virtual drives around the neighborhood, bird’s eye map views, search for proximity to freeways, shops, natural disasters, all online. All very straightforward. But there are things you won’t see or hear if you don’t visit the property. There are things you’ll overlook even if you do, but a visit minimizes them. Property taxes are higher but prices lower and no silly bubbles. Insurance is high too.

[spdrun]

Speaking as someone who has searched long distance for property in the other direction … I’ve seen some properties that looked great in Google Earth and were total turds in person. And vice versa.

[CA renter]

Listen to UCGal and spdrun. Even if you’ve worked in the office on a short-term basis, you never know if you really want to stay there. Not sure if this is a forced or voluntary move which could be reversed if you choose, but I think it would be much better if you rent first.

Spend the evenings and weekends driving around different areas that you think might be compelling. Talk to coworkers about the different neighborhoods and tell them exactly what you are looking for; see what they recommend. Once you’ve picked a few interesting areas, walk those neighborhoods, visit the local parks if you have kids or dogs, chat people up and ask them about the best streets, home layouts, etc. Some might even invite you into their homes where you can see how things are set up and maybe see what kind of modifications they’ve done to make the homes more livable.

You might even be lucky enough to meet someone who wants to sell their house or know of someone who does, and you can manage the transaction without realtors, saving yourselves a lot of money. Of course, you should consider hiring an attorney, especially since it’s in an unfamiliar state, and definitely get a home inspection.

Just my 2 cents. Good luck!

[spdrun]

It can always be reversed. Think of yourself as … AN EMPLOYEE … not a slave. Assuming you’re entitled to some benefits or a payout if you do leave early, of course.

[raty4R]

We are in North Dallas area now. Been here about 10 days. The housing market is crazy here, homes are already under contract in 1 or 2 days. Even crappy homes needing repairs are going for asking price. We see a new listing, go visit it and the realtor already have offers on it. So far we love it here lot’s to see and do. Some beautiful areas, lots of parks and open spaces. Our realtor said prices are starting to creep up but not like Southern California spikes.

[spdrun]

Best to hope for lower oil prices to take some wind out of the market’s sails… then jump on something this fall or winter.

[CA renter]

[quote=spdrun]Best to hope for lower oil prices to take some wind out of the market’s sails… then jump on something this fall or winter.[/quote]

Agree with this.

[Author]

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