If you’re like many people thinking about buying or selling a home right now, you’re not quite sure about how the whole thing will work – after all, we’re in the middle of a pandemic.
So can you close a real estate deal during a pandemic?
Here’s what you need to know.
Can You Close a Real Estate Deal During a Pandemic?
You can absolutely close a real estate deal during a pandemic – but your REALTOR® will likely have a few changes up his or her sleeve to help adapt.
First, if you’re listing your home for sale:
- Your agent might offer virtual tours and walk-throughs as opposed to open houses
- Most of your paperwork will be done online
- Your meetings with your agent and your agent’s meetings with other agents will most likely take place over the phone or through an app like Skype, FaceTime or Zoom
- People who want to visit your home might be encouraged to take a virtual tour (where their agent walks through your home while live-streaming)
If you’re buying a home:
- The agent you’re working with might offer to “walk you” through the home using a live-streaming app before you decide to visit in person
- Most, if not all, your paperwork will be completed online
- You may have to wait a little longer on inspections and appraisals, based on what some companies are requiring from their workers
- If you request repairs or upgrades, you may have to wait a little longer than you normally would – some companies are shut down or are operating under limited hours
Closing Your Real Estate Transaction During a Pandemic
While it might feel a little like a “drive-through closing,” you’ll still get the job done – and that means you’ve bought or sold your home.
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