There are few things in life more stressful than buying or selling real estate. Of course, it doesn’t help that we’re in the middle of a worldwide pandemic. With issues such as financial instability and social distancing, real estate is undergoing substantial changes. If you’re planning on buying or selling a home, don’t be discouraged. Here are a few things to bear in mind when contacting a realtor.
1. Accept the Difficulty
If you’re considering selling your property, remember that millions of people around the world are losing their jobs. So they will have to face difficulty in securing or maintaining a livelihood capable of supporting them before even considering buying property. So you aren’t the only one who’s suffering.
Those worried about job security wouldn’t want to put their house up for sale either. This isn’t nonsensical or unusual, as it’s uncertain as to when social distancing will ease enough to go job seeking.
This doesn’t mean that the entire property industry has succumbed. People are investing, whether it’s because they need a bigger home for their family or because they’re starting a business that requires additional space. It’s not shocking that it’s more difficult to sell a house in the middle of a pandemic, but it can happen.
2. More Virtual Tours
In a situation where hygiene and social distancing practices are having to be strictly adhered to, homeowners wouldn’t want people they don’t know visiting without a determination of potential purchase. Some property companies are streaming videos of their homes, with some even showing 3D virtual tours.
3. Curbside Closing
To minimize physical contact, housing parties are thinking of innovative and efficient ways to start the paperwork process for the closing of the sale. One of these ways is known as “curbside closing”. This is where the paperwork is passed from one car to another, and once the writing and signing tasks have been completed, the pen is thrown out so as to maintain hygiene.
4. Refuse Aggressive Offers
If you don’t need money urgently, don’t pester your buyers into looking up more places and making a final decision. If you can wait longer, then wait until the pandemic is over and take advantage of the dip in the market. This dip, however, isn’t for certain and it’s impossible to predict with absolute authority whether or not it will happen.
5. Stay Calm
While speculation has been made that the pandemic can result in a dip in the economy, it may not substantially affect the housing market, as they don’t strongly correlate with the economy. The pandemic can be regarded as an event with an ending point, as opposed to something we have to live with forever.
Wrapping Up
Making decisions on property can be stressful enough at the best of times, but during a pandemic, it can be chaos. However, by working with reliable realtors and lenders like Altrua Financial, and putting in some detective work of your own, you will hopefully enjoy a stress-free and safe buying experience.
