Home Buying/Selling During The COVID-19 Crisis

The real estate industry, like nearly all other industries, is undergoing adjustments to meet the needs of buyers and sellers amidst the COVID-19 pandemic.

USA Today discusses several aspects you can expect if you are buying or selling a home during this current climate:

#1 Open House Cancellations

In an effort to minimize person-to-person contact, you can expect that in-person home showings, as opposed to open houses will be arranged.

Furthermore, social distancing should be observed whenever possible. When working with realtors, clients, and potential buyers, avoid otherwise common social practices like handshakes.

#2 Video Tours Instead of Live Walkthroughs

Video streaming platforms, such as FaceTime, are instrumental for buyers and sellers at time such as this.

Buyers and sellers will likely heavily rely on 3D home tours. In fact, last Wednesday Zillow reported that the number of 3D home tours created on its platform rose by 215%.

#3 Processing Delays

Because main portions of the home buying process must now be altered in order to meet public safety needs (i.e. from in-person communication to virtual/telecommunication, for example), some degree of processing delays can be expected.

For example, while some counties currently permit remote document signatures for items, such as loans, other counties do not.

If you are planning to buy or sell your home, our team is equipped and available to assist you through the process.