Can You Buy A House During COVID-19?

Posted By Liz Loadholt @ Aug 31st 2020 12:34pm In: Market conditions

Can You Buy A House During COVID-19?


Buying or selling a home during the COVID-19 pandemic is not for the faint of heart, but yes, it is definitely possible.         Selling a home during COVID


Here are some aggravating things about buying during the pandemic:

  1.  It is difficult to actually tour the home -- this is probably the most aggravating one.
    1. Homeowners don’t want strangers in their home and buyers don’t want to go into places they don’t know.
  2. Typically, Realtors don’t want the buyers to ride in the same car with them, so the buyers miss the opportunity to discuss the previous home seen with their REALTOR.
  3. It is critical to get a very detailed virtual tour of the home if the buyer cannot actually see the home themselves -- some real estate agents skip over rooms, etc.
    1. Pain points:
      1. To actually view the home - no question about it.
      2. Arranging for a closing attorney or title company to handle the closing -- so many do not want buyers and seller to go into their offices
      3. Interferes with the thrill of closing on their new home
  4. What advantages does our new reality offer to new homebuyers?
    1. Advantages of this new world (reality) are;
      1. A lot more of the paperwork is taken care of virtually so less time off from work.
      2. More virtual tours of homes before actually visiting the home -- so again less time spend viewing a lot of homes in person.
  5.  If you could wave a magic wand and instSelling a home during COVIDantly win one concession in negotiations (besides a lower price), what would you choose? 
    1. The one concession in negotiations that I would like is for the buyer to be able to use a Due Diligence contract. With the inventory of homes in Charleston SC being so low, most sellers are not accepting Due Diligence Contracts. I believe the Pandemic has been one of the reasons for such a low inventory of homes for sale.  The owners are not nearly as likely to sell in order to move up or move down during this pandemic.Selling a home during COV:ID

Maam Liz Loadholt signature

Mama Liz Loadholt

Broker-in-charge

AgentOwned Realty

Liz@agentownedrealty,.com


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