Selling a House During Coronavirus Pandemic
Hoping to put your Grants Pass or Medford, Oregon house on the market in 2020 or beyond? What to consider regarding the coronavirus (COVID-19) pandemic.
If you were planning to put your Southern Oregon house on the market in 2020 or beyond, the coronavirus (COVID-19) pandemic has likely given you pause. Is now a good time? Will prospective buyers come? Will they leave germs all over the place? And assuming you do go ahead with the sale, what changes can you expect with regard to the usual past procedures and practices?Let’s take a closer look at some of those issues here.
Post-COVID-19 State of the Real Estate Market
Nearly half of Realtors surveyed by the National Association of Realtors said home buyer interest has decreased due to coronavirus-related concerns, however we at REI Home Solutions, still may be able to help you with your Grants Pass or Medford Oregon home, in most situations.
Now just isn’t a time when most people want to take on the uncertainty and effort associated with a home purchase and move. Besides, their stock portfolios might have taken a serious hit.
That said, there are always people who have strong motivations to move, such as a new job in another state. With sellers are putting their homes on the market in Southern Oregon, yours might be an attractive option.
Also, some buyers are specifically looking to get to a location where they’re less exposed to crowds, like in Grants Pass and Medford; rather than property in a bigger city, or a rural area rather than a crowded city.
Dealing With Strangers Visiting Your House
You have every right to protect your property from the possibility of contamination. Because any real estate agents are canceling open houses or limiting the number of entrants, and focusing on arranging personal visits by serious lookers only; thats where REI Home Solutions can actually help, we do virtual tours people can see online, as if you were walking through the property.
We are investors so usually in most cases, we will be the only people walking through your house , not tons of prospective buyers.
Selling Process Might Go More Slowly Than You Expect
Everyone is affected by this crisis, and a lot of people are involved in a home sale: bank officers, home inspectors, escrow agents, appraisers, and so on. Actions that might have once been completed in hours or minutes might have to wait, whether it’s because individuals are unavailable or because a shelter-in-place order limits all non-emergency travel.
The purchase agreement we at REI Home Solutions (REI SOLUTIONS LLC) provide for your home will contain a closing date, but prepare to be flexible on this. We are writing clauses into the contract that basically foresee and make room for the possibility of delay owing to COVID-19 issues.
The closing of escrow could be held virtually, and its NOT a new thing for us, in fact at REI Solutions, its how we normally do business….
However expect some challenges or newly step-by-step procedures for getting all the documents reviewed and signed. And if the courthouse or clerk’s office where the property deed needs to be filed, that adds another delay.
As the Southern Oregon Real Estate market changes in 2020, you could have a buyer or us pull out of the deal during escrow.
And be aware that purchase contracts are usually written to give buyers and investors various escape hatches if their own circumstances, such as their ability to get funding or a mortgage loan, change.
Just know here at REI Solutions LLC, Brian and his team can help in most situations, we just ask Sellers to have Open minds to solutions we can offer.
Give us a call anytime 541-500-0158 or Contact us