Selling Your Home Despite Concerns About COVID-19
New Yorkers have already weathered quite a storm when it comes to COVID-19. Unfortunately, concerns continue mounting amid resurgent case counts and the coming of fall. If you have previously considered selling your home, you may be wondering if now is the time. Rather than continuing to put off your plans, our New York real estate attorneys have tips on how to navigate the market and on how to make your home more appealing to today’s buyers.
Is Now a Good Time to Sell Your Home?
Recent headlines may have made potential sellers cautious about whether this is the best time to put your home on the market. While it is true that the COVID-19 resulted in a dramatic drop off in sales, the fact is that since stay home orders have been lifted, home sales have seen an encouraging surge.
According to a July 2020 market report by Curbed, home sales have recovered nicely since the height of the pandemic and are even on par to surpass last year’s figures. Additionally, an increase in potential buyers and a lack of properties for sale make it more likely for those who do sell to close quickly and at a profit. Ways you can make your home more appealing to those currently in the market include:
Offer virtual viewings: Virtual home viewings a must. Providing a wealth of information online and professional looking home tour videos will give you a definite advantage.
Highlight space: With the fear of potential stay home orders in the future, buyers today want to ensure they have adequate space. Clearing your home of excess furnishing and any clutter will make it look more open and spacious.
Emphasize amenities: With people spending more time at home, it is important to emphasize the amenities your property offers. This includes family rooms and home offices, as well as porches, pools, fire pits, or other offerings available.
Be available to communicate: Be available to answer prospective buyer’s questions and to act if an offer is made. Make use of FaceTime and virtual web conferencing services such as Zoom to make communications easier.
What To Expect When Selling Your Home
Despite the positive signs in the current real estate market, it is important to be aware of some of the drawbacks COVID-19 has created and how they are likely to impact your home sale.
- Fewer viewings: There are fewer people browsing the market but those who do express interest are more likely to act.
- Delays: Due to staff reductions and other impacts, expect some delays when dealing with home inspectors, banks, and the local court system.
- More hurdles: Expect some general hurdles in closing due to COVID-19. Read contracts carefully and have an experienced real estate attorney on your side.
Let Us Help You Today
As experienced Bronx & Westchester real estate attorneys, Cavallo & Cavallo provide the trusted legal guidance you need when selling your home. Call or contact us online to request a consultation in our office today.