Public 5 Questions Buyers Have During the Coronavirus Outbreak Answered
Everyone is being affected in some manner by the outbreak of Covid-19 coronavirus. During this time, buyers will have more questions than normal about the home buying process and their ability to buy a new home. While we can’t predict what the next few
weeks and months will bring, the more we can educate ourselves, the better we can navigate the buying process smoothly during the pandemic. Here are a few common buyer questions as they related to the Coronavirus outbreak and real estate answered.
1. Can we still go see home listings in person? – This is the hardest question to answer and it will depend on the home, the seller, the agent and any fast-changing
governmental policies put in place. The Connect Home team should be able to offer a Skype or Face Time home tour virtually. GIve us a call to find out what we have available for the buyers to prescreen the home virtually before setting up the
visit; we might have virtual tours already available which can help rule out those that don’t suit your needs.
2. How can I stay safe while visiting homes? – Everyone’s health has to be the priority; this includes the buyers, sellers, and agents. If you are going to
see a home in person during this time, carry hand sanitizer and wipes to use before, during and after the tour. Drive separately from your agent meet at the homes. During the tour, designate one person to open doors, drawers, and closets and use disposable
gloves during the showing. The Connect Home team is equipped with these items to help.
3. What happens if I lose my job during the escrow period? –Most real estate contracts include a contingency that protects you, the buyer in the event you can’t
get final loan approval and close the loan. Typically during the process, this contingency is removed after a set time frame, or after receiving the loan approval. Since every aspect of real estate is negotiable, consider asking for the contingency
deadline to be extended and in place until the close; talk through this aspect with your Connect Home Team agent.
4. Will I still have access to the home during the escrow period? – It’s very common for the buyer to have easy access to the home during the escrow period;
home inspections, appraisals and just measuring are all common reasons to visit the home during escrow. Consider grouping these activities whenever possible, during this time.
5. Will I get a better deal if I wait to buy a new home? – We all know there’s no crystal ball, but with everything that’s going on, sellers on the market should
be very motivated to sell. There are also historically low-interest rates on home loans. There is no way to predict the future, so if the right home comes along, it makes sense to consider it.
The Covid-19 outbreak is causing some uncertainty among home buyers, sellers, and even agents. However, with the use of technology and following best practices, you can still find the home you’ve been waiting for during this time. This isn't the first
market shift, or market "surprise" the Connect Home Team has navigated throughout the years. We are staying educated and are looking forward to helping buyers now and in the future when the time is right for them. Give us call, let's chat about what
you are wanting and together we can come up with a game plan that is right for you.