Another Pandemic Era Closing in Bristow, Another Lesson in Technology
When COVID-19 shut down businesses all over Virginia and changed our daily lives, I had no idea that the real estate market would shake off the effects. The pandemic, while changing the way we market, meet clients, show properties and conduct closings, has not slowed the pace of the Bristow real estate market.
The tale of 12007 Bristow Village Blvd. in New Bristow Village is a perfect example of what the Bristow real estate market is like. This lovely single family home hit the market on May 20th (2020,) priced at $568,000. Because of a COVID exposure in my immediate family, I was unable to help the sellers prep for the photos, or meet the photographer at the property. Thankfully, the sellers were practically ready for photos the day I had shown up two months earlier during our listing appointment.
Showing the home initially involved getting pre-approval letters from buyers before they were approved to tour. When that request went over like a lead balloon and there were hardly any showings, the sellers took a leap of faith that only motivated buyers would be out in the pandemic and allowed showings without pre-approval letters first. Four days after hitting the market, this listing had one and a half offers. What's a half offer? Well, intially the second offer arrived unsigned. Then, when it was signed, but only part of the offer was sent over. If the second buyers who wrote on the house knew how they were being misrepresented, they would probably get new represenation. Pandemics don't change our fiduciary duties to our clients.
The first offer was too good to lose waiting on the second offer to get their pages in order, especially after asking twice. So the sellers took what they had, which was a serious offer from a serious buyer. Full price with no closing cost help.
Things ran very smoothly right up until settlement day (june 17th,) when the e-notary entered the picture. E-notary closings are becoming a popular option for closings. However, if you aren't well versed in using technology (like entering Zoom calls,) they can be frustrating. And even if you are well versed in technology, they can still leave you up the creek without a paddle. In today's e-notary closing, Mr. Seller was unable to verify his identity through a third party verification site, pulling questions from his personal history. Based on the answers he had to choose from, they were from some other individual with his name. Shoting in the dark with answers, he failed. And once you fail, you can't do it again.
Thankfully, Mr. Seller was still in town wrapping up his job and was able to meet in person at the title company to sign documents in person. Turned out to be a much faster process than the e-notary. Technology turned out not to be the saving grave for Mr. Seller, but it worked like a charm for Mrs. Seller, already halfway across the country.
In real estate, having a back up plan is always necessary to get great results. Thankfully, this Top Bristow Listing Agent knows all about back up plans. She now knows that e-notaries are ill-equipped to handle monkey wrenches thrown in the works.
When the time comes to sell your Bristow home, give me a call to get top dollar for your home no matter the market. No matter the issues that face us along the way, we'll have plans to get through them all.
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