The Covid-19 coronavirus outbreak has caused many questions and concerns when it comes to selling a Door County home or condo.. Sellers are concerned. We acknowledge concerns your concerns and offer practical advice and concrete information to
help sellers make the best decision for themselves and their families. Get answers here…
Should I still try and sell my home?
Of course, there are many aspects to this question. First and foremost, the health concerns of the sellers’ family have to be taken into consideration. Unless absolutely necessary, the elderly and those with underlying health issues should not allow unnecessary people into their homes; including buyers and agents.
If the household is essentially healthy and not considered high-risk, then this could be a great time to sell. Consider the advantages of lower inventory coupled with low-interest rates; as listings become rarer, the remaining inventory will get more attention which could create better offers.
Is it safe to have people through my home?
This is certainly a concern, but there are practical steps you can take to ensure safer home showings
What can I do to protect myself and family during showings? –
Protect the home, family and visitors alike by taking the following precautions.
a. Keep hand sanitizer at the front door to offer buyers and their agents when they enter the home.
b.If there is a guest bathroom, keep disposable hand towels and soap for guests to use and make the request known to the showing agent. Personally I always, COVID or not, discourage buyers from using the bathroom in a home or condo we are viewing. Sometimes we will even find the water in properties turned off. So, I tell them that and tell them to limit their fluid intake before the viewing because we may not find a bathroom.
c. Offer disposable gloves for use with a receptacle for used gloves.
d. Request agents and their prospects to wear a mask.
d. Limit the showing days and hours so you can properly clean between showings.
e. Have cleaning wipes handy. Request agents to wipe surfaces, door handles, and banisters which are touched during the showing.
f. Ask your agent to offer virtual showings or host virtual open houses
I always “prequalify” the home or condo with the buyer before we request a showing (again, COVID or not) and during this time rely especially on good photos and virtual tours. Sometimes a few questions to a buyer will eliminate a property based on space available location, or condition. I of course don”t want a buyer or seller to miss an opportunity, but there is no point in inconveniencing a seller with an prospect who I know is not qualified or that the property will absolutely not fit their needs.
What happens if my buyer loses their job?
Most real estate contracts include a contingency for the buyer loan approval and funding. Now more than ever, it’s critical to keep that contingency in place. In the unfortunate event the buyer loses their job or can no longer qualify for the loan during the contingency deadline, the parties cancel typically cancel the contract.
A letter of loan preapproval prior to the viewing will give some assurance that the buyer is credit worthy and employed at the time of viewing.
Will I get a higher price if I wait to list my home?
The truth is no one knows. We don’t know how long or short the crisis will be and we don’t know how the financial market will weather the outbreak. While this is a question the seller will ultimately need to decide, the old adage about a “bird in the hand” is important to remember.