Selling a home can certainly be stressful even under normal circumstances. When you add in the fact that we are currently experiencing the Covid 19 Pandemic, it can be even more nerve-racking. However, Realtors in New England are still closing sales. The question is will you need to sell for less money or spend countless months waiting for an offer to come in? You do need to keep in mind that the real estate market is constantly shifting and certainly varies from town to town. However, the following information will provide you with some great advice. Here are the top tips for selling your home during the Covid 19 Pandemic.
Do Not Consider Low Offers Quite Yet
Due to the current state of affairs, a great deal of real estate sellers are under the belief that the only way they will be able to sell their home is if they accept lowball offers. The good news is that there are still plenty of buyers looking to purchase real estate. Smart buyers are well aware of the fact that they can take virtual tours of your property, and they do not need to actually see it in person in order to make an informative buying decision. Some towns are currently experiencing a Sellers market, which means there are more buyers than properties available for sale.
If that is the case where you live, you may actually receive offers that are higher than your asking price. Please consult with a professional Realtor in order to determine if your town is currently experiencing a sellers market. If you are currently in a buyers market, which means there are more properties for sale than buyers willing to purchase them, you may want to consider lowering your price. However, do not accept a lowball offer unless you must sell sooner than later. Buyer and seller markets tend to shift quickly in unstable times.
Communicate With Your Listing Agent Realtor
Realtors that are good at their jobs communicate with their clients on a regular basis. This is even more important in uncertain times. In fact, most Realtors will meet with their sellers on a weekly basis in order to provide them with updates and feedback. Since in person meetings are out of the question for the time being, you should be utilizing teleconferencing solutions such as Zoom or FaceTime on a constant and consistent basis. That way you know if you need to reduce your selling price, or even take your home off of the market until things loosen up.
Plan For A Standard Closing, But Expect Delays
When your home is listed for sale on the real estate market, you may very well receive an offer that you are willing or even happy to accept. That being stated, you need to be patient in regards to closing on the sale. The standard 30-45 day closing cycle may not be realistic during the Covid 19 Pandemic. For example, it can take significantly longer to schedule appraisals and home inspections. Your buyer’s loan process will also be delayed a bit. Plan on a 60-90 day closing cycle for the immediate future. That means you need to plan your move into your new home accordingly whether you are renting or buying another property.
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