Surprisingly real estate is still moving forward but at a slower rate.
The COVID-19 situation makes showing homes more difficult and the protection of both buyers and sellers of the utmost importance. As the California Association of Realtors, Real Estate Brokerages and agents themselves adapt to the ever changing situation, properties continue to come on the market and sell.
Agents are now (or should be) following the guidelines listed below as outlined by the California Association of Realtors in order to protect themselves and the public.
- Open Houses are suspended for the foreseeable future.
- Owner occupied homes should not have lockboxs.
- Agents should provide good photos and a video walk through of the home and property in order for buyers to decide if this is a home they can picture themselves living in.
- It has also been suggested that buyers view homes virtually and write an offer “subject to inspection”. In other words buyers can look at the property once the offer has been accepted. Writing an offer “subject to inspection” gives buyers the opportunity to cancel the contract if the home does not meet their expectations.
- As far as lending goes…ALWAYS ask whichever lender you are using if they are Locking Interest Rates. Some lenders are not locking rates until they have “clear to close”. This makes completing ITEM 3D1 “Rate Not To Exceed” on the Residential Purchase Contract more important than ever.
Please contact me with any questions or concerns.
Stay safe and stay healthy.