How to Be a Proactive Buyer During COVID-19
Just a few months ago, the residents of Morristown were getting ready for the hot summer days that would include plenty of outdoor activities. However, with the recent effects that coronavirus has placed on the area and the United States in general, many activities planned for the next few months are coming for a halt. Despite the country slowing down due to stay at home orders and social distancing in order to protect each other’s health, things like real estate forge on, albeit much differently. Were you planning on either buying or selling a home in the area? Here are a few tips to get yourself prepared.
Work with a knowledgeable Realtor
During this time, it’s important to have someone on your side who can aid you in making informed and prudent decisions. A real estate agent is necessary for both buyers and sellers, especially during this time. There are a lot of changes that are in the works regarding real estate transactions in order to keep people safe and healthy. These changes are different in each state and city, and a knowledgeable real estate agent can help you navigate this successfully.
Take advantage of the downtime
While stay-at-home orders might feel suffocating, it’s the perfect opportunity to use your free time to get prepared to find a house, apply for mortgage pre approval, research ways to sell during the pandemic, tackle home improvement projects, or get move out ready. Buying a house during coronavirus gives people the time that they might not have had in a more competitive market, allowing them to make more thoughtful decisions on the homes they choose. And, because mortgage interest rates are dropping, some buyers might have a wider selection of what kinds of houses they may be able to afford.
If you’re selling your house in the next few months, use the time spent at home to devise a selling plan that will accommodate the current situation. Use social media and the internet to showcase your listing and focus on any home improvement projects that you can work on yourself. This can include landscaping, power washing the house, repainting a room, or upgrading your storage space.
Use virtual resources
The country and Morristown area are advised to socially distance ourselves from other people to prevent spreading the virus. What does this mean for showing a house and completing necessary real estate processes and transactions, like appraisals and title searches?
For showings, there are multiple ways of how to tour a house during coronavirus virtually including a prerecorded tour, a live tour, or even one done with 3D images! Work with your Realtor and potential buyers to find a solution of what works best for your situation.
As for other other steps that usually require in person meetings, governments are allowing things like appraisals, notarizations, recordings, and title searches to be done either virtually or by the mail. An alternative appraisal, for example, is temporarily allowed to be used as a replacement for full appraisals and inspections.
While we’re still able to buy and sell houses during this time, it’s important for us to be patient and flexible with each other. There are going to be more roadblocks than usual, and working with the other party to overcome them is necessary during this time.
I’m here to help you during this challenging and uncertain time. Give me a call if you have any questions about preparing to buy or sell during coronavirus.