5 Questions Buyers Have During Coronavirus

Reblogger
Real Estate Agent with Melody Russell Team at eXp Realty of California, Inc. 01468388

Here's a useful post written by a fellow real estate agent from Elk Grove, California.

Like her, we can't show homes that are occupied.   My very cooperative seller took lots of videos on request.    We have a buyer in escrow now, and inspectors are considered essential.    The buyers will see it after the sellers move out, which fortunately is a few weeks before closing.    Fingers Crossed!

Original content by Lori Mode DRE # 00935148

5 Questions Buyers Have During the Coronavirus Outbreak Answered

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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 help buyers 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. Agents should be able to offer a Skype or Face Time home tour
virtually. Talk to your agent to find out what they have available for the buyers to pre-screen the home virtually before setting up the visit; they might have virtual tours already
available which can help rule out those that don’t suit their 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.

3. What happens if I lose my job during the escrow period? –Most real estate contracts
include a contingency that protects the buyer in the event they 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 the seller and their agent in advance to
set the right expectation.

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.

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.

Lori Mode

Lori Mode and Bruce Durham, Keller Williams Realty - Elk Grove

Connect with us online...............

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or www.FindaHomeinElkGrove.com 

Lori Mode and Bruce Durham, Elk Grove agents

______________________________________________________________________________________________

About the author: The above Real Estate information was provided by Lori Mode.  Lori can be reached via email at Lori@Modeanddurham.com or by phone at 916-405-5737. Lori has helped people move in and out of Elk Grove and surrounding Sacramento areas for the last 20+ Years.

Thinking of selling your home? I have a passion for Real Estate and love to share my marketing expertise!

For Elk Grove and Sacramento Real Estate and home sales see FindaHomeinElkGrove.com.

Connect with Lori on Google+

Posted by

Building A Bridge to Your Future

M.C. Dwyer, MBA, REALTOR    call/text (831) 419-9759

Century 21 Showcase REALTORS Cal BRE 01468388

www.Santa-Cruz-Mtns-Homes.com copyright 2012-19

 

Comments (8)

Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

Can I low ball every home we liked  and make as many offers on them?

Apr 30, 2020 07:42 AM
M.C. Dwyer
Melody Russell Team at eXp Realty of California, Inc. - Felton, CA
MC Dwyer-Santa Cruz Mountains Property Specialist

Sam Shueh right!    So far, prices really haven't gone down here.    But it is a good time for buyers, since there's less competition & interest rates are CRAZY LOW.

Apr 30, 2020 08:32 AM
Nick Vandekar, 610-203-4543
Long & Foster Real Estate Inc 610-225-7400 - Devon, PA
Tredyffrin Easttown Realtor, Philly Main Line

Rules vary from place to place, we have not been able to show any homes, even those which are vacant, hoping that the rules will be relaxed sooner rather than later as there are plenty of buyers ready to make offers. Congrats on getting this sold virtually.

Apr 30, 2020 08:57 AM
M.C. Dwyer
Melody Russell Team at eXp Realty of California, Inc. - Felton, CA
MC Dwyer-Santa Cruz Mountains Property Specialist

Hi Nick Vandekar, 610-203-4543 hope your rules get relaxed to allow people to do necessary real estate activities soon.    We can now show occupied homes, following sound safety protocols, when it isn't possible to do it virtually.

May 01, 2020 02:41 PM
Andrew Mooers | 207.532.6573
MOOERS REALTY - Houlton, ME
Northern Maine Real Estate-Aroostook County Broker

The work arounds shows the creativity of those in the real estate industry that have had some experiences with difficult markets. Anxiety high makes our jobs as service providers critical M.C. Dwyer ! Every market behaves so differently too COVID19 or not right?

Jun 27, 2020 07:32 AM
M.C. Dwyer
Melody Russell Team at eXp Realty of California, Inc. - Felton, CA
MC Dwyer-Santa Cruz Mountains Property Specialist

You're spot on - we have to stay light, fast, and creative to successfully meet the challenges of changing markets Andrew Mooers | 207.532.6573 

Jun 30, 2020 07:39 AM
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

I was looking for your current posts. I hope you are having a very productive month.

Aug 27, 2020 06:30 AM
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Thanks for your comment on my recent post.

Enjoy the holidays.

Dec 27, 2020 05:19 AM
Raymond Henson, eXp Realty
eXp Realty of California, Inc. (lic. #01878277) - Elk Grove, CA
Realtor

Thank you for sharing this one, M.C. Dwyer.  It has a lot of useful information.

Jan 21, 2021 08:44 AM
Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

Just popping by to say hello. Hope you're staying busy. D

May 08, 2021 06:21 AM