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.
Here are some aggravating things about buying during the pandemic:
- It is difficult to actually tour the home -- this is probably the most aggravating one.
- Homeowners don’t want strangers in their home and buyers don’t want to go into places they don’t know.
- 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.
- 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.
- Pain points:
- To actually view the home - no question about it.
- 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
- Interferes with the thrill of closing on their new home
- Pain points:
- What advantages does our new reality offer to new homebuyers?
- Advantages of this new world (reality) are;
- A lot more of the paperwork is taken care of virtually so less time off from work.
- More virtual tours of homes before actually visiting the home -- so again less time spend viewing a lot of homes in person.
- Advantages of this new world (reality) are;
- If you could wave a magic wand and inst
antly win one concession in negotiations (besides a lower price), what would you choose?
- 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.
- 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.
Mama Liz Loadholt
Broker-in-charge
AgentOwned Realty
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