If I said that these are uncertain times you might respond that “that’s at least a little bit of an understatement”. We are living through a unique period of human history and it’s understandable if you’re apprehensive about what lies ahead during this period, especially so if you need to buy or sell real estate. If you’re feeling a bit lost about how to proceed, then I bet you’ll find the following 6 things you should know about buying and selling in Indianapolis during coronavirus very helpful.
One thing you should know about buying and selling in Indianapolis during coronavirus in the midst of the uncertainty of the economic and housing markets, is that those who have the option to delay a move are doing so for at least a few months. What does this mean for you if you’re trying to sell a house? Well, there is a perception among buyers that if someone is selling a house right now they must be under economic or legal pressure and are being forced to sell. Even if this isn’t true of each and every seller, it could have the potential of driving negotiations towards an overall lower final purchase price. Conversely, you should also know some buyers or sellers need to make their move quickly in Indianapolis during coronavirus. This could be due to changes in employment, be it either a move down or up, or due to personal issues such as caring for a family member in another location or any number of other reasons.
Due to changes in the economy and massive job loss brought on by the COVID-19 related government shutdowns, many buyers in all economic levels of the market have seen their credit affected negatively. This means that less of the population will meet the standards that are required by most traditional lenders. For this reason, it’s important that you know about alternative financing options when you are either buying or selling in Indianapolis during coronavirus. Being open to creative financing on the part of both parties will widen the potential playing field for finding the right seller or buyer.
Another thing you should be aware of when buying and selling in Indianapolis during coronavirus is how to keep safe during the process. It’s always been the case that potential buyers walking through your home could pose a potential threat to you, your family and even their own real estate agent (it’s a thing, sadly – you can do an internet search for it). However due to COVID-19 buyers may be posing a deadly threat to you without any of you even realizing it. Discuss with your real estate agent the steps that will be taken in order to prevent bringing someone showing signs of illness or with a fever wandering through your living space. You can prevent unnecessary contamination of common household surfaces during showings by requesting that your agent be the only person who touches any surface. Likewise, you can ask that all present wear protective gear such as face masks and latex or other types of gloves. You’ll also need to ensure that you can rely on the buyer’s agent (or yours if you’re having open houses) to wipe down or spray any surface they or their client may have inadvertently touched.
Empty Is Golden
You should know there is value in the fact that a home has been sitting empty for those who are either buying or selling in Indianapolis during coronavirus. Having a quarantine period of at least two weeks alleviates concerns about disinfecting every nook and cranny of a home after a showing for the seller or before moving in if you’re the buyer.
Something else you should know about buying and selling in Indianapolis during coronavirus is that many sellers are requesting that only their agent show the home. This is kind of weird and could put agents in a tight spot, yet it’s happening. This is another way to keep a low total on the number of people who’ve actually been inside your home during the entire process. While often the buyer’s agent is not in favor of this arrangement, special allowances must be made during this time.
Given the technology of today, you’ll also want to be aware of everything possible about the pool of potential buyers or sellers who are shopping online when buying and selling in Indianapolis. For the tech-savvy who want to go it on their own, while it may look easy, you’ll want to be certain that you keep within all of the local, state, and federal laws that govern real estate transactions. As always, you’ll need to investigate just who you’re accepting an offer from. Likewise, you’ll need to go into the process with your eyes wide open to the possibility of online scams. Before finalizing anything by signing on the bottom line, you’ll want to meet face to face with the players in your deal and have done very careful research of county records to ensure you’re actually dealing with the owner of the property in question.
Let 317 Home Buyers help you quickly and safely through the process without all of the headaches and concerns regardless of whether you’re buying or selling in Indianapolis during the pandemic. We are here to answer all of your questions and help you every step of the way! Send us a message or call 317 Home Buyers at 317-623-4734 today!