Don't expect a discount
Nationally, home prices are holding
steady, with the majority of home
prices the same or higher from one
year ago, according to NAR. At the
same time, new home listings are
down as sellers delay listing their
homes. Serious buyers should submit
competitive offers, and their Realtors®
will advise them on exactly what that
looks like for their respective markets.
Expect delays
The entire industry - from lenders
to Realtors® to home inspectors to title
companies - is adapting to the sudden
and unforeseen transition of operating
in a nearly contact-free environment.
Those terminating a lease should leave
some wiggle room, even an extra
month or two, between moving out
of a rental and into a new home in
case of an unexpected delay. Hiring
moving crews may prove challenging,
so buyers should give them as much
notice ahead of their move as possible.
WHAT SELLERS
NEED TO KNOW
Sellers face potential challenges, too.
Keep an eye out for any expected delays
either in the transaction process, such
as the ability to get paperwork signed
or having appraisers or inspectors
onsite due to social distancing rules.
Use tech tools to help market
and show your home
At a time when in-person showings
may be inadvisable, and even
prohibited, there are many digital tools
available to continue marketing and
showing your home. A Realtor® can
help coordinate three-dimensional
interactive property scans, virtual
tours (either pre-recorded or live),
on-demand open houses and virtual
staging to showcase your property.
If sellers do receive an offer on their
home, their Realtor® has the ability to
present it to them virtually as well.
Take steps to protect yourself
Buyers have purchased properties
"sight unseen" for a variety of reasons
long before this pandemic. However,
most buyers do not have experience
purchasing a property without
physically visiting it. Therefore,
sellers may want to include language
in the purchase agreement that
ensures the buyer acknowledges that
they are responsible for personal
verification, walkthroughs and
professional inspections to confirm
that the property meets their needs.
LAKE WEDOWEE LIFE 27