Introduction
If you’re planning on selling your home during the COVID-19 pandemic, you might be curious about what the process is going to be like, especially if you’ve never sold a home before.
Below, we will cover some important points about selling during the pandemic, how to prepare, new safety procedures to adopt, and how to keep yourself and others safe throughout your home-selling journey.
FAQ
Selling your home during coronavirus, while it can be done, may require safety measures that you may not have thought about. Take a look at the following questions regarding home sales during the pandemic in order to get a good idea of what you can expect along the way.
Can I sell my house during the COVID-19 pandemic?
Technically, you can sell your home anytime you want, but there are things to consider when it comes to any home sale.
In light of the pandemic, there is not a lot of inventory available in most markets, and with so many people hoping to find a new place to live, it may be beneficial to consider selling your house during the coronavirus pandemic.
Is now a good time to sell, or should I wait?
It’s currently a seller’s market, so even with the pandemic taking place, it’s a good time to sell a home. However, if you’re at a significant risk of becoming ill, you may want to wait until more vaccines have been dispensed in your area.
Are houses even selling during this pandemic?
Home sales during the coronavirus are still occurring, perhaps even as a result of the coronavirus itself. With the way COVID-19 has affected rents and the safety of families in renting situations, plenty of people are looking to buy a home.
How can I sell my house during this pandemic?
If you’re planning on selling a house during the coronavirus pandemic, there are certain precautions you need to take. In order to properly follow safety protocols, it’s a good idea to talk with an experienced real estate agent or professional home buyer.
How can I determine my house pricing during this pandemic?
Compare other house sales during coronavirus in your area. By finding properties that are similar to your home, you can develop a baseline asking price for your home sale. You may also want to speak to an agent to help price your home properly.
How will I market my property during this time?
You can market your home much the same as you would before the pandemic by listing it through the MLS and working with either an agent or a professional home buyer. Though there are social distancing protocols to follow, much of the marketing process will remain the same.
Can I hold an open house?
Depending on the size of your home and the area in which the home resides, it may be possible to hold an open house to aid you in selling your house during the coronavirus. However, it’s important to ensure that social distancing guidelines are being followed. If it’s not possible to ensure the safety of your visitors, it may be beneficial to forego the open house.
Should I sell my house during a recession?
Selling during a recession often depends on personal circumstances and choices. Because there is usually a low number of homes available and a drop in standard home prices, it may be difficult to sell your home for what it’s worth. However, if you feel that you need to sell your home in order to downsize or relocate, proceeding during a recession can be rewarding if approached correctly.
Do I have to face a lot of competition if I try to sell my house right now?
Due to the lack of homes available on the market, you are unlikely to face a lot of competition when selling a house during the coronavirus pandemic. It’s currently a seller’s market, so you’re likely to sell your home quite successfully without much competition.
Should I expect to sell for less right now?
Despite the difficult economic environment, you can expect to sell your home for a decent price. Because it’s a seller’s market, you’re unlikely to have to sacrifice much when selling a house during COVID.
Is it safe for me if the buyers tour my home?
If safety is a concern, you may want to have potential buyers participate in virtual showings. Selling a home during coronavirus will understandably bring with it some concerns about having strangers in your home. If you decide that in-person showings are necessary, it’s a good idea to adhere strictly to distancing protocols, and clean your home both before and after people view the property.
Would it be possible to sell my house without allowing buyers to walk through?
It’s possible to commence selling a home during COVID without having buyers walking through the property. However, it’s going to be more of a challenge than selling your home the traditional way. In some markets, conducting your showing virtually may be a great way to get around in-person visits.
Is it a good idea to stage my house now?
Even if you’re selling your house during coronavirus, you’ll want to stage it. You’re going to need high-quality, attractive photos of the home to include in online listings so that prospective buyers are attracted to the property. Staging is a great way to inspire possible buyers to see themselves living in your home.
Will I be able to have renovations or repairs done during this pandemic?
Having repairs or renovations done is a normal part of selling a house and as such, it needs to be applicable when selling a house during coronavirus. While you will be able to have repairs and renovations done, it may be more challenging than it was before the pandemic.
Would it be safe to get the renovations or repairs done?
It should be safe to have repairs and renovations done when selling your house during coronavirus if you and the contractors involved adhere to safety precautions. For example, ensure that workers wear masks, encourage hand-washing, and clean your home after they leave the property.
How do virtual or digital inspections work?
Virtual or digital inspections can be done if your lender allows them. To do so, you’ll need to provide accurate measurements of your home, as well as detailed photos of the requested areas, or a full-length video of your walk-through examination of the home.
How can I prepare my home for a virtual tour?
If you’re selling a home during coronavirus, you’ll want to prepare for a virtual tour the same way you would for a physical tour. Clean your home, ensure that the lights are on, window blinds are open, and the home is bathed in natural light. A clean, well-lit property is key for a successful virtual tour.
How can I close remotely?
The amount of remote tasks that can be done when selling your house during COVID-19 depends on your specific area. There are a lot of closing tasks that can be handled remotely, but to get a full run-down of what remote tasks are and are not available, you’ll need to check with your selling team.
How will COVID-19 impact my transactions?
Selling a home during coronavirus isn’t impossible, but understandably, there may be some delays involved. It might take a little longer than usual to get inspections and appraisals done, and showings may take place virtually more often than in-person. Other than brief delays in processing, home sales during coronavirus should not be that much different from home-selling transactions in ordinary circumstances.
How will COVID-19 impact the property market?
COVID-19 is likely not going to impact the property market in a negative way for sellers. It may make buying more difficult being that there is not a lot of inventory currently available. However, sellers should find the selling market quite rewarding during the pandemic.
Conclusion
Selling a home can be challenging, and this is especially so when the sale occurs during a global pandemic. However, because we are currently in the midst of a seller’s market, there exists many great opportunities for sellers who choose to embark on a real estate journey at this time.
If you ensure that you’re following safety precautions and you can be patient during transaction delays, you’ll likely find selling during the pandemic can be as rewarding as selling at any other time.
To make the most of your sale and conduct business as safely as possible, speak at length with your realtor or professional home buyer about your concerns. This way, everyone on your team can be onboard to ensure a safe home sale.