Veteran Owned Business

FAQs: Sell a Florida Home When You Live Out of State

Frequently asked questions about selling a Florida home when you live out of state. How can I prepare to sell? Do I need to be present at closing?

FAQs: Sell a Florida Home When You Live Out of State

Do I Need To Be Present At The Closing?

No, a seller does not have to be present at closing. Every state allows power of attorney to handle a home closing. You do, however, need to prepare some things to make sure closing goes smoothly. To close successfully — whether you’ll be there in-person or not — you need the following items:

  • Government-issued photo ID
  • Keys, codes, or garage door openers to the property
  • Any other remotes or devices that control home systems
  • Any outstanding documents and paperwork your attorney or escrow agent instructs you to bring, such as a receipt showing completed repairs requested by the buyer.
  • Cashier’s checks for closing costs and repair credits if you’ve agreed to cover a portion of the buyer’s closing costs.

Do I Need A Real Estate Agent To Sell A House From Out Of State?

No, although that’s a common misconception for a lot of homeowners in Florida. If you do decide to work with a real estate agent, make sure you find one that’s specialized in long distance home sales. Your other option is to work with a cash home buyer like Orbit Properties. We can typically close and pay cash for your home in just a couple weeks.

Do I Need To Hire A Home Stager?

You’ll only need to hire a home stager if you work with a real estate agent to sell your out of state house. If you decide to work with a cash home buyer, you do not need to hire a stager. Almost all cash buyers, like us, will buy your home as-is. So there’s no need to spend time and money making it look clean and appealing.

Why Are Properties Usually Sold From Out Of State

There are a number of reasons why property gets sold in a different state from where an owner lives. Some of the most common include:

  • Real estate investor who owns rental property remotely decides that the time is right to sell.
  • Executor of an estate is responsible for selling an out of state property.
  • Next-of-kin who inherited property is not interested in being a long-distance landlord.
  • Parents or a loved one may be moving into a senior living facility and the children need to sell.
  • Change in family status such as a marriage or divorce when one spouse lives somewhere else.
  • Relocating to a new job in another state with no time to sell before making a move.

How Are Out Of State Home Sales Taxed?

There are two types of taxes to consider when a property is sold out of state: (1) capital gains tax and (2) state and local taxes.

Capital gains tax is paid on any profit made when a property that has been held for more than 1 year is sold. The tax rate on capital gains is 0%, 15%, or 20% depending on a your tax bracket and filing status. If a property is held for 1 year or less, short-term capital gains are treated as ordinary income and taxed at a your ordinary income tax rate.

You may also be liable for paying state and local taxes to the state a property is located in, and to the state where the buyer resides.

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Get Your Free Cash Offer from Orbit Properties
Sell your Jacksonville house fast without fees, repairs, or closing costs. Enter your phone, email, and property address. We’ll send you fast, free, no-obligation cash offer in 24 hours or less.

Free Seller Resources

Clay County

Duval County

Lee County

Marion County

Putnam County