Tips for Buying and Selling Your Home During the Pandemic
Here’s what you need to know about selling your house during the COVID-19 crisis.
Are you truly ready…
Before putting your home on the market, it’s important to consider all the variables involved in this step and be sure it’s a financially responsible move. With the pandemic causing a slowdown of the economy and a likely recession, life circumstances you may have relied on, such as a steady job and salary, may not be dependable anymore. It’s a good idea to review all the relevant numbers to be sure that selling your home now is in your best interest. Call us to discuss your options.
Stage your home to sell
When selling your home, it is necessary to showcase it in the best possible land most cleanliness light, especially in today’s competitive market. With restrictions still in place in various areas and lots of people seeking an affordable home in a short amount of time, many buyers completing virtual tours and having a safe and clean environment will yield you maximize proceeds. For sellers, this means that staging, professional photographing, and selling options are more important than ever.
Have no fear, High Yield Realty Services, LLC has the professional photography and optional staging resources available to truly present your home in the best way possible. If your home is too cluttered to be attractively displayed, investing in staging options may be the way to go.
Why? You asked. The NAR report from 2019 shows that on average, sellers see about a 5% return on this investment.
For some general tips to follow when staging and photographing your home, contact us today.
Price it right
Fewer homeowners are putting their houses up for sale this year, but the pool of buyers is also smaller than usual. This means you won’t be able to jack up the price of your home for way more than it’s worth. Work with an agent to look at comparable home sales in the area and to determine a fair asking price. Also, as always, list a selling price a bit higher than your actual desired price to allow for negotiations.
When allowing access to or viewing a home, don’t forget to play it safe. Wear your facial masks, wash your hands frequently, keep your distance, and sanitize your hands regularly. Great news! High Yield Realty Services, LLC keeps your health as a priority. We set up a box of disposable masks, shoe covers, and sanitizing wipes at the door for all visitors who will be tramping through your home.
During an open house, we set as designated time and allow a limited number of people inside to make social distancing possible.
Closing during COVID-19
The coronavirus pandemic will likely affect every aspect of buying and selling your home, up until the closing. With many workers in various industries, from professional home inspectors to mortgage lenders, to movers to attorneys and more all working with a smaller team now, be prepared for various steps of the home buying and home selling process to be delayed. It’s best to be patient and to anticipate that things may take longer than usual. This is especially true with lenders, as low mortgage rates are triggering a spike in refinance applications across the country and lenders are busier than ever.
COVID-19 has wrecked all sorts of plans but buying a home and selling your home does not have to be one of them. With some adjustments and altered expectations, you can successfully sell your home during the coronavirus pandemic.