One of the biggest challenges presented by the COVID-19 pandemic is that it feels like we are constantly being presented with new information about how the illness is spreading and how it is best controlled. As Florida continues to see an increase in the number of confirmed cases, there are countless questions that people interested in selling a property during this process have. The following reviews the answers to some of the most commonly asked questions by sellers during the coronavirus pandemic.
Can You Sell Your Property During the COVID-19 Pandemic?
The decision to sell a property is influenced by various factors, which include your financial situation, your health, and the strength of the marketplace. In short, you can absolutely sell a home during the pandemic. In many cases, it is even possible to make a profit from a property sale during this difficult time because there is little available inventory and high buyer interest.
Is it Reasonably Safe to Sell a Property During the Pandemic?
If you are interested in selling a property during the pandemic, you have likely already asked yourself whether it is safe to go through the traditional process of listing, showing, and selling a property. By working with a smart realtor, you can make sure to take precautions to greatly minimize your chance of being exposed to COVID-19.
Can You Expect Competition if You Try to Sell a Property Now
Parties should expect to have much less competition selling properties during the pandemic. This is because many other potential sellers are still concerned about putting their homes on the market during a pandemic. It is a better approach, however, to avoid getting caught up in the competition and to instead focus on the things that you can control, like making sure the property is in a good state and is offered for a competitive price.
Should Sellers Expect to Sell for Less During the Pandemic?
While some people thought the pandemic would lower home prices everywhere, this is not necessarily what will happen. The economy might be experiencing a recession, but this does not mean that home prices are going down. Many experts predict that the summer markets will be stronger than many anticipated. In part, real estate sales will be strong this summer because many Americans feel more secure in their jobs. While you might not be required to drop your property’s price, you should expect to wait patiently when it comes to finding the best purchaser possible.
How can a House be Sold Without Allowing Buyers Inside?
There is a long-standing tradition in the property transaction process of having buyers physically see inside a home before they consider buying it. Restricting buyers to walking around the perimeter of the property is a much less attractive option. It is mostly impossible to sell your home without having any showings at all. In cases in which a seller or someone who lives with the seller is classified as a “high risk” case for COVID-19, however, it might be possible to hold a virtual showing.
Speak with a Knowledgeable Property Law Attorney
Property law is complex, and COVID-19 has made transactions even more nuanced than they once were. If you need the assistance of an experienced property law attorney, do not hesitate to contact the Adam Law Group today to schedule a free case evaluation.