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 in Door County. While we can’t predict what the next few weeks and months will bring, the more we can educate ourselves, the better we can 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.
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. I can offer you a Skype or Face Time home tour virtually to give you a pretty good idea of the home, but I know you will want to personally see the home if it seems to be a fit. We can use those virtual tours to help rule out those that don’t suit your needs.
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 I suggest you bring a mask, carry hand sanitizer and wipes to use before, during and after the tour. We will meet at my office to introduce ourselves, but we will drive separately to the homes to maintain social distancing. During the tour, designate one person to open doors, drawers, and closets; I will provide disposable gloves and wipe surfaces when we are done.
What happens if I lose my job during the escrow period?
We are optimistic that the country and Door County are opening back up and that folks who may have been temporarily laid-off will be returning to work. We can structure your offer to include a loan contingency that protects you in the event you 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.
Will I still have access to the home during the escrow period?
It is 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, it will avoid inconvenience for you and the seller.
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 may 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 for that reason, and because in certain price points there is a shortage of home and condo inventory in Door County.
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