NEW YORK, April 28, 2023 – Despite the ongoing challenges of the coronavirus pandemic, purchasing a home remains achievable, though the process has undeniably shifted. Many potential buyers are wondering if now is the right time to enter the market, and the answer, surprisingly, isn’t a simple yes or no.
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Here’s how to safely and effectively pursue homeownership in the age of COVID-19.
- Virtual house hunts are becoming increasingly common.
- prioritizing safety during showings is crucial.
- Potential delays in the closing process should be anticipated.
Embrace Virtual Tools
With social distancing measures in place, virtual tours have become a staple in the home-buying process. Many real estate agents now offer 3D walkthroughs, video tours, and live virtual open houses. Take advantage of these tools to narrow down your options before scheduling in-person showings. Don’t hesitate to ask your agent for additional photos or videos of specific areas of the property.
Safety First: Showings and Interactions
When you do schedule an in-person showing, prioritize your safety. Ask the agent if there have been any known cases of COVID-19 at the property. Inquire about the agent’s safety protocols and what measures they are taking to protect both you and themselves. Don’t hesitate to reschedule a showing if you feel uncomfortable or unsafe.
Potential Delays and Contingencies
The pandemic has also introduced potential delays in the closing process. Appraisals, inspections, and title searches may take longer to schedule due to limited availability or safety concerns. Lenders may also have stricter requirements for documentation and verification. Be prepared for these potential delays and factor them into your timeline. Consider including a contingency clause in your offer that allows you to back out of the deal if unforeseen circumstances related to the pandemic arise.
