Home-Buying Process During the Pandemic

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How to Navigate the Home-Buying Process During the Pandemic

Buying a home can be a stressful process on its own, but the coronavirus pandemic adds a new level of anxiety for many buyers. While many of the basic steps remain the same, the process will be a little different. by Gene Thomas

Below, Don Martin of the Reasonable Realtor invites you to find out what to expect, and discover what approaches you can use while shopping for your dream home.

Prepare to Buy (and Sell) a Home Online

Most listings can already be found online, so it’s a good place to start your search.
Brush up on real estate lingo so you can read online listings with ease.
Because you’re relying a lot on photos, learn how to spot misleading real estate pictures.
Use online tools that can help you estimate any repairs you may need.
Research what it takes to sell your current home, and consider the for-sale-by owner route through the Reasonable Realtor.

Your Mortgage and Closing

Weigh your mortgage options carefully to find the best loan. For example, veterans will do well to look into VA loans, which offer more flexible eligibility standards. VA loans don’t require a down payment or mortgage insurance, and have lower credit score minimums.
Before you begin your house hunt, it’s wise to get preapproved for a mortgage. This is an ideal move given how competitive the market is.
Whether you’re closing in person or virtually, be prepared to wait for your closing date. The timeline can run from 30 to 60 days, and this process can take longer when it comes to government-backed loans.

Touring Homes in the Age of Coronavirus

Many sellers (and buyers) still prefer virtual real estate interactions.
Be sure you understand the difference between a virtual tour and a virtual showing.
Learn what you can expect when it comes to virtual tours and showings.
Remember to ask the right questions so you can truly get a feel for the place.

Buying a home right now can be a bit challenging. However, it’s sometimes necessary to move anyway, despite the continuing pandemic. By learning how to read between the lines on online real estate listings and familiarizing yourself with video chatting, you’ll be all set to take a virtual tour of your next home.

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