Buying and Selling a House During COVID-19
The COVID-19 pandemic has changed the way we go about pretty much everything in our daily lives. Social distancing measures have been put in place to help reduce the spread of this catastrophic virus, people and businesses have had to adapt their daily behaviours to fit in with these new circumstances. Being deemed an essential service, the real estate industry had to quickly adapt to the new norm in order to continue to support clients that are looking to buy or sell a home.
If you already have a real estate agent on your team, they have probably already shared some of the new measures they have implemented to ensure everyone involved in the transaction remains safe throughout the process. If you did not yet select a real estate agent to help you out with the transaction we will be sharing the key updates below.
The first question that anyone that is looking to buy or sell a house during COVID-19 should ask themselves is; Can the purchase or sale of your home wait? Taking the wait and see approach at this time, may not be a bad idea if you can wait. If however you have already sold your home and need to find a new place to live, if you have already agreed to purchase a property and must sell your current home to finance the new purchase, if your lease is up and you are looking to buy a new home, if you cannot afford the expenses related to your current home and need to sell to get out from under these expenses and for so many other reasons you are not able to just wait and see, there are options to continue with your purchase or sales at this time.
Even though you may not be able to sit down with multiple real estate agents before selecting the right one for you to partner with on your transaction, it doesn’t mean the process of selecting an agent has to change. Partnering with a real estate agent has always been about comfort and trust, so reach out to friends and family for referrals and engage with potential agents in a video call. Use this opportunity to not only see if there is a personal fit, but ask about how they have adapted their strategy to cope with COVID-19 measures. Trusting that your agent will be looking out for your best interest while maintaining safety for all, is a must in selecting an agent at this time.
Anyone buying or selling a home during COVID-19 must rely on technology, as virtual tours and live streams are the best way to showcase a home during this period. Prior to COVID-19, anyone looking to sell their home had a team of professionals to help highlight the best of their space, this includes home stagers, cleaners, landscapers, and professional photographers. Today, if you are looking to sell your home, you will need to take on each of these roles yourself. Your real estate agent will provide you with some directions and tips to help your home stand out.
Offers and closings have also gone digital, agents and their clients are able to review documents and make adjustments on the spot. And once finalized, digital signatures have replaced traditional pen on paper.
The manner may have changed, but homes are being purchased and sold during the COVID-19 pandemic as quickly as they were prior to the virus turned the process on its head. The safety measures put in place to stop the spread of the virus have forced everyone in the industry to look for new efficient and practical ways to continue servicing the. Buying and selling the needs of our clients. Some of the changes may even be adapted to real estate transactions after social distancing measures are relaxed, specifically, the digital documentation, updates, and approvals have helped streamline the process.
Buying or selling? Our team can help! Make your sale or purchase a no worries experience with The Osborne Goddard Team. Call or Text 905-252-8599 today.
