I get asked on a daily basis how Covid-19 has effected the real estate market. So I want to put everyone’s mind at ease about that part of our economy.
We are managing rather well in all aspects of the process which I will detail in the steps of a transaction to make it easier.
1. Looking at properties – As a Realtor, I will not have buyers in my car for both our safety. They can follow in the safety of their own car. We ask buyers to limit the amount on people in the home. No more than 1-2 people. Leave the kids at home (Just not with Grandma). We also provide video walk through tours, which is a no contact option. Once we find a home that is a winner- we can set up a private showing. We do ask the clients keep a safe distance from the Realtor as well.
2. Selling a home – We understand the concern of having strangers in your home during this time. Like I mentioned above, we limit the people in the home and ask them to not touch any surfaces. We will also shoot walk trough videos, do online open houses and coordinate home inspections, appraisals and closings with limited contact.
3. Home Inspections – In the good ole days, we would welcome buyers and agents at the inspections, however now days, ONLY the inspector will be there. No buyer. No Realtors. No Sellers. I am sure the inspectors love that. The inspector will send a detailed report as always. We can then negotiate any repairs via a phone call or email.
4. Appraisals – Much like the inspection. No one will be there but the appraiser.
5. Closings– Thankfully we have a few options for this and a few more coming our way, I hear. For now, we are having separate closings. So the buyer and seller will not close at the same time. The agents will not attend either but will discuss the closing statement with their client prior to closing (over the phone). We also have the option of a mail away closing. A mobile notary would be needed for this in some cases. I understand there may be tele-mobile closings in the near future. This will allow a notary over Skype to verify identification and have the client sign via an electronic signature. This is not available in all areas as of yet.
So if you are still thinking of buying or selling, there is no need to wait until this virus is over. Interest rates are very low! Take advantage of that! Lenders receive applications online and collect all your info via email.
Let me know what questions you have. I am here to help!
