We have sold multiple apartment buildings and other investment assets for owners that live far from the subject property. The common threads that we see when we close an escrow with this sort of seller/buyer are the following:

Communication

Though it may be an over-kill, we make sure to speak with the client at least once a week. By speaking with them at the beginning of the week or the end of the week, the client is constantly up to date with where we stand with the escrow timeline. Therefore, the client is acting as a partner on the sale/acquisition of the investment asset.

Technology

Disclaimer: We are not sponsored by this company – although I wish we were!

DocuSign is a company that facilitates the process of getting documents signed. It has a made a profound impact on all agents’ lives. In the past, the client would have to download a file, then print, then sign, and then scan the files back to me. In some cases, the owner did not have a scanner.

DocuSign makes it easy so that the client can access files online and sign/execute with one click of a button. We designate which lines need to be initialed/signed and the client clicks on those required designated lines.

Manage Your Time Effectively

There are instances in which we act as the liaison between tenants and owners.

We find ourselves spending more time to cater to these situations. Whether it be posting the notices, calling/emailing the tenants, or making copies of keys because tenants do not want to leave the units unlocked. While it may take more time, it does provide a crash course into being a landlord.

While there may be more common threads into selling/buying a property for a client that lives out of town/state, the most important items are mentioned above. If you have any questions or would like to know more about our case studies, please feel free to reach out to us.

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