Tips to Close on a Custom Home from Out of State

Are you retiring and relocating to a new state? Does a job or family situation require you to move across the country? Previously, purchasing a new home under these circumstances was challenging because one would have to travel to the new location (possibly multiple times) to deal with the purchase. However, recent technological developments allow people to purchase a new construction home from a distant site. Building a custom home can still present some challenges, but with a top-notch custom home builder, the entire experience can be positive. This article will give some tips on the purchasing process.

Building New Construction Homes in Raleigh NC, with Grayson Homes

Monitoring Progress

The world is now a global place. So, the traditional methods of monitoring the progress of a home build by visiting the site do not apply when you don't live locally. Instead, there are other ways individuals can monitor the progress of the construction. For example, clients can contact the building company office for a detailed report or request an onsite video call. Regular communication with the building company lets clients know about any onsite challenges and enables them to make informed decisions. One should never wait for the company to contact with problems; initiate contact frequently. Clients regularly communicating with the building company won't be caught off guard by any last-minute surprises.

Finances

The mortgage loan process can now all be completed online. Individuals are advised to compare lender rates and avoid additional major purchases before completing their loan process to keep their credit rating stable. In addition, all borrowers should ensure that their credit history is updated and any problems addressed. Be prepared to supply bank statements and confirmations of employment to the lender. All financial documents should be transmitted via a secure channel to protect personal identifying information. Avoid sending sensitive information via email or other media channels vulnerable to hackers.

Borrowers should also be prepared to give an appraisal of their home to their lender. The builder or lender can contact an appropriate local appraisal company.

Homeowners Insurance

Property insurance can also be obtained online. Prospective owners of the new construction should compare rates and choose the best insurance that suits their needs. Most mortgage lenders will require homeowners insurance to be in place at closing.

Closing

Clients should speak to their lender, builder, and title company before the closing date to avoid any hitches. Nowadays, a power of attorney is not required; document signing can be handled through a web portal or digital service like DocuSign. Also, Remote Online Notarization (RON) can handle the closing using a live video and audio call. Verify that the state where the closing is located permits RONs for real estate closings.

Buying and building a home from out of state is possible. Today's technology makes it a relatively straightforward process.

Grayson Homes

Are you interested in new construction homes in Raleigh NC? Grayson Homes can help whether you are local or across the country. Our team can deliver your dream home that meets your needs and budget. Contact us today at 919-578-6222 and see what we can do for you.