2535 Valley View Gln, Escondido, a property we listed during the Coronavirus and is now pending or under contract.
The Coronavirus has interrupted home purchase plans for some, while there are those who are looking for a buying opportunity now that mortgage rates are low, despite the economic uncertainty.
Governor Gavin Newsom has issued stay-at-home orders in California but considered real estate an essential service. This then allowed sales activities to continue, as of this writing. So YES, you can still buy a home during Coronavirus, but there are guidelines and a few changes from the normal process.
Practice Social Distancing
If seeing the houses in person is an absolute must, follow all of the CDC and WHO CoVID-related recommendations such as keeping a six-feet distance from other people; always washing your hands or using a hand sanitizer; covering your mouth with your elbow when you sneeze or cough; wiping down surfaces you have touched with antibacterial wipes. Additionally, as of May 1, face masks will be required when in public places and should be used when touring homes for sale.
As per the recommended best practices released by the California Association of Realtors® (CAR), if you’re on the lookout for a property to buy, expect transactions to be done remotely. Showings should be done virtually, if at all possible. No need to go to the office to negotiate contracts and such, as these can be done digitally. Video calls instead of meetups. Before signing anything, or if at any point you are unsure, feel free to ask your agent who can do a screen share, speak on the phone, or meet you in person.
Some changes in the process
Once your offer gets accepted and you proceed with the next steps of the home purchase, there may be some delays. With transactions with all parties involved in the sale like banks, home inspectors, escrow agents, and because the “shelter in place” order was not specific about which occupations are essential, these institutions may have limited manpower to process certain documents for your home purchase. There are also new forms added related to CoVID-19 to help protect buyers, sellers, and real estate professionals.
The show (or sale) goes on and there are definitely many folks who are still buying right now. And if you’re eyeing on properties and a reliable broker in San Diego County, we are here to help.