Selling or Buying a home during the pandemic
Nerdwallet article says yes you can buy and sell a home with the following helpful tips
Tips for buying or selling a home now:
· Carefully consider whether you're financially and emotionally ready to buy a home and whether you need to move right now. It may be better to postpone if you're just toying with the idea or worried about losing your job. "It's a needs-based thought process," Jeanne Radsick President California Association of Realtor says.
· Shop at least three lenders to find the best rates and get pre-approved for a mortgage before you start looking for homes. Know that lenders are also grappling with the effects of COVID-19, and the process may move slower than normal.
· Don't be surprised by a competitive market. There may be fewer buyers out there, but there are also fewer sellers.
· Stay updated on state and local regulations and be prepared for a process that looks different from business-as-usual.
Some of the differences
· Some lenders have set stricter credit requirements for mortgages
· Virtual and video only tours of homes
· Limits on number of people allowed in the home at one time.
· Drive by appraisals for value
· Buyers not accompanying the inspector during the home inspection.
· Coronavirus clauses, face masks, booties and gloves when entering a sellers home to protect all parties
· Virtual closings and speaking to your closing representative by web meeting and by phone
· Essential party at closing may be the notary
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