Selling Your Home During COVID-19
Every industry is affected by the pandemic. No one is exempt. Even the real estate industry is facing a big problem brought on by Covid-19. Investors have to deal with the volatility in the market. Real estate property owners who rent out their properties may have to comply with temporary rules to allow extension of rent payments as consideration for tenants who lost their jobs. Everyone is slowly adjusting and that’s one thing to consider if you are planning to sell your home during this breakout. So, if you are on your way to list your home as for sale amidst the coronavirus pandemic, here’s what you should expect.
Selling might not be as seamless as before.
Since everyone is affected by Covid-19, selling might be rough these days. If you have experienced selling your properties before and you were able to sell quickly, this time might be different as everyone is preserving their money. No one knows when the pandemic will stop and it’s understandable that people are holding off their investment plans. So, if you are planning to push through with selling your home, expect that the process is rough, and you won’t get clients as quickly as before.
Negotiations are unavoidable.
Expect that a buyer will negotiate until you agree to the price he/she is willing to pay. It is often unavoidable, even during this time of the pandemic. Make sure that you are willing to adjust the price and any condition related to your property so that you can increase the chance of getting a client. Be open to negotiations but don’t let the buyer decide on everything. Consider your goals and the price reasonable for you. If you can avoid selling your home at a price lower than its value, avoid it.
There will be longer reservations.
Once you’ve listed your home for sale, you will often still get a lot of queries from potential clients. Since many places are on lockdown or running at limited capacity, you should expect that the reservation period will be longer. Potential clients will demand to see the property first before they enter into an agreement. So, the longer the shutdown, the longer the reservation and hesitation of potential buyers. You may have to wait for everything to calm down so you can go through the normal process of selling your property. Longer reservations might be a challenge, but it doesn’t mean that you can’t sell your home. There is still a great opportunity for you as a real estate seller.
You may need the help of a real estate investment company.
In case you are located in California, particularly in Orange County, CA, you may need the help of a real estate investment company to make the sale easier and faster. Our company, JAM Properties, LLC is very knowledgeable and ethical in terms of dealing with real estate properties and their owners. Our focus is primarily on acquiring distressed properties by paying all cash, renovating them, and selling them at fair prices. In this time of the coronavirus pandemic, the best option for you to sell your property is to contact us. We will give you a cash offer for your home, so you don’t have to wait any longer.