Navigating Through COVID-19
Navigating Through COVID-19 As A Homebuyer in Nevada – from HomeLight
As states begin reopening, we’re all starting to figure out what the “new normal” looks like. How we shop, how we socialize, how we keep our children learning—and of course, how we buy houses.
There’s been plenty of uncertainty throughout the spring for both sellers and buyers, but the good news is that the real estate industry has been extremely quick to adapt to the needs of buyers who no longer want to take tours of multiple homes or attend open houses. That means that in many places, including Nevada, homes are still being bought and sold—the process just looks somewhat different than it did pre-pandemic.
Here’s what you need to know if you’re looking to buy a home in Nevada during COVID-19.
You can complete more of your home purchase virtually than you probably realized.
Even before the pandemic, most homebuyers began their search for a new home online. Today, of course, that number has only grown.
Sellers have responded to this need to go virtual by employing tools like video tours, virtual reality tours, and live video walkthroughs conducted by the seller’s agent. These offerings allow buyers to get a much more comprehensive view of the homes they’re considering than just the standard photos.
What’s more, there are plenty of other steps along the way that can be completed virtually, as well. Reviewing all or at least most of your paperwork digitally, letting inspectors go through the home on their own rather than accompanying them, virtual closings—it’s important to ask your agent about these options, as well as what other elements of the home buying process can be completed in a contactless, safe manner.
You’ll need to be seen as a serious buyer before you’re able to book a walk-through of the home of your dreams.
Not surprisingly, most sellers today want to keep the number of buyers walking through their home to an absolute minimum—and that’s why you’ll have to be extra diligent about getting all your ducks in a row before expecting to physically walk through a home you’re considering.
Many sellers are requiring proof that a buyer has been approved for a mortgage before allowing them to enter the home for an in-person walk-through. In addition, many sellers are asking buyers to sign a disclosure stating that to the best of their knowledge, they do not have the virus and have not been exposed to anyone who does have it.
When you do conduct your in-person showing, if you and a partner or spouse are seeing the home together, be prepared to be asked to go in one at a time. You’ll also be asked to touch as little as possible—the agent will likely have opened up all doors, turned on all the lights, and opened all windows in order to make this easier.
Coronavirus addenda are becoming standard in real estate contracts.
Because of the economic and health uncertainty that the coronavirus has caused for so many people, most real estate transactions today are including a coronavirus addendum.
These clauses stipulate that either party can delay or walk away from the transaction if a specified coronavirus-related event occurs, such as loss of income, hospitalization, etc.
If your contract doesn’t have this clause, make sure to talk to your agent about including one. Unusual times call for unusual measures, and these clauses protect both you and the seller in case something happens.
Buying a home during coronavirus is different than it was pre-pandemic, but with a bit of flexibility and a great agent by your side, you’ll close on that new house in no time.
**Guest blog provided by HomeLight