You have to admit that the past few months have been a bit on the apocalyptic side. A pandemic which forces us to stay indoors, unemployment at its highest in decades, people in the streets wearing masks who are the good guys! We’ve even got murder hornets! So, is now the time to sell your home? According to a poll of real estate agents, 75% agree that real estate is holding steady at the moment, but given the rising unemployment rate and a looming recession, this will not hold true for much longer.
So, should you sell and how should you sell? First, is the concern about sales prices. Home sale prices are still on the high side at the moment, not having taken the giant dips which have affected the stock market. But real estate prices are always a bit slower to respond to trends, so most realtors are expecting a rather substantial drop in market prices in the foreseeable future. So, now may be the time to sell, but selling through a realtor by putting your home on the open market may not be the way to go. Because of rampant unemployment, lenders are more reluctant to grant funding, meaning that your potential buyers may face difficulty. This will limit your pool of prospects. And an open marketplace means that you will be required to open your home to strangers. This has always been a stressful and unsettling prospect, but the fact that COVID-19 may be hitching a ride into your home adds to the problem. Even if you are fortunate enough to find a suitable buyer, they will face delays in the mortgage approval and title searches due to the current pandemic. And, due to the unsettled nature of these times, many real estate contracts now contain a COVID-19 clause, allowing the buyer to drop out without losing any deposits.
Many sellers cannot afford to wait to sell their homes. They may be faced with a relocation required by their job, a desire to have their children attend a more desirable school district, and be motivated by closeness to a medical facility due to health concerns. They may simply be driven mad by children stacked in bunk beds. Whatever the reason, in this market a quick sale is more desirable than ever, and there is no better, nor hassle-free, way to sell your home than by dealing with a reputable home buying company.
A home buying company will offer you fair market value for your home, without the need for costly repairs. You will not need to open your doors to visitors in masks and gloves. There will be no unwelcome surprises when it comes to funding the sale – money will be in your wallet in days or weeks, as opposed to months. And you will pay no agent’s fee, no commission, no closing costs, or escrow.
As you can see, selling your home to a home buying company will reduce stress, limit your exposure to the coronavirus, guarantee a quick sale and a fair market price, and allow you to get on with your life. Just what we all need at this point!