U.S home sale from Philippines?

[OnMyWay]

23 minutes ago, Old55 said:

If it were me I would stay until it sold.

I agree and you can set a closing date far enough away to allow you to buy a cheaper ticket and pack.

[ttmctoad]

57 minutes ago, Old55 said:

Talk to your realtor, hire an attorney. Every state has its own laws, here in Washington State every home must be inspected by an approved home inspection agent. 

If it were me I would stay until it sold.

Good advice. Thanks.

.

[AlwaysRt]

3 hours ago, JJReyes said:

One requirement is the closing documents have to be notarized in the presence of a US Consulate Officer. We don't know about US Consulate offices in the Philippines, but getting an appointment with a Consul could be tricky.

It is not particularly tricky as long as you are in Manila or Cebu. It is necessary only because it is the only way to get documents US notarized overseas in person, however you do not have to get it done in person. We are in the digital age and yes, there is at least one notary service that you can use over the internet http://Notarycam.com 

I would recommend not giving power of attorney to a real estate agent. Instead find a real estate attorney and give a Specific Power of Attorney. Make it for a time period, price, and only for sale of the property (unless you are interested in rent/lease etc).

So yes you can sell from here. However, I agree with several others, it would be best to sell before you make your permanent move because you can't foresee every possible issue that may develop and you would be negotiating at a disadvantage so far away.

[ttmctoad]

41 minutes ago, OnMyWay said:

I agree and you can set a closing date far enough away to allow you to buy a cheaper ticket and pack.

As others have suggested, I need to talk to a realtor. I'm so ignorant that I didn't consider setting a closing date far enough out that I'd have time to get my affairs in order. I've owned one home and I've never sold one.

Thanks.

Edited July 10, 2016 by ttmctoad

[Happyhorn52]

The closing date is a mutually agreed upon date between the buyer and seller. You can not set the date until you have a buyer for the house. 

Sean,

The closing date is just one of many factors that is negotiable during the offer and acceptance of a purchase contract. When making an offer the buyer will include a closing date and depending on the seller's circumstances it may be acceptable or they may counter with terms that work better with their schedule.

If you are dealing with bank owned or short sale properties closing dates are usually between 20 and 30 days from acceptance for cash deals and between 30 and 45 days for financed deals. Many lenders cannot turn around a loan and get it through appraisal and underwriting in 30 days but there are those that can.

Expenses are prorated through the closing date so generally there is no better day of the month to close but if financing there are some differences in what is collected as a pre-paid item and when the first mortgage payment is due. 

[AlwaysRt]

9 hours ago, JJReyes said:

One requirement is the closing documents have to be notarized in the presence of a US Consulate Officer. We don't know about US Consulate offices in the Philippines, but getting an appointment with a Consul could be tricky.

It is not particularly tricky as long as you are in Manila or Cebu. It is necessary only because it is the only way to get documents US notarized overseas in person, however you do not have to get it done in person. We are in the digital age and yes, there is at least one notary service that you can use over the internet http://Notarycam.com 

I would recommend not giving power of attorney to a real estate agent. Instead find a real estate attorney and give a Specific Power of Attorney. Make it for a time period, price, and only for sale of the property (unless you are interested in rent/lease etc).

So yes you can sell from here. However, I agree with several others, it would be best to sell before you make your permanent move because you can't foresee every possible issue that may develop and you would be negotiating at a disadvantage so far away.

[AlwaysRt]

4 hours ago, Happyhorn52 said:

You can not set the date until you have a buyer for the house. 

Yes, the agreed upon closing date is not set until a contract is signed by both parties. There is nothing wrong with putting the house on the market in July and including in the details you want a 1 November closing date (or whatever). However, doing so may reduce offers both in number and sales amount as people may not want to wait that long.

[JJReyes]

21 hours ago, OnMyWay said:

FIRPTA does not apply to U.S. citizen sellers, only foreign person sellers.

Sorry. My mistake. Been retired now for more than two years. I was thinking of HAPTA which is the Hawaii withholding. My wife and son are the licensed Realtors and, when they represent a Buyer, they check for Seller legal residency.