5 Questions Sellers Have about the Market during the Coronavirus Outbreak: Answered

5 Questions Sellers Have about the Market during the Coronavirus Outbreak: Answered

There are so many questions and concerns amid the Covid-19 coronavirus outbreak. The real estate market is especially hard hit and sellers are concerned. Real estate at its core is a people business. It relies on person-to-person interaction and the coronavirus necessarily limits this contact. As the spring selling season gets started, home sellers will have questions and it’s important to acknowledge concerns and offer practical advice and concrete information to help sellers make the best decision for themselves and their families.

1. Should I still try and sell my home? – Of course, there are many aspects to this question. First and foremost, the health concerns of the sellers’ family have to be taken into consideration. Unless absolutely necessary, the elderly and those with underlying health issues should not allow unnecessary people into their homes; including buyers and agents. If the household is essentially healthy and not considered high-risk, then this could be a great time to sell. Consider the advantages of lower inventory coupled with low-interest rates; as listings become rarer, the remaining inventory will get more attention which could create better offers.

2. Is it safe to have people through my home? – This is certainly a concern, but there are practical steps you can take to ensure safer home showings.

3. What can I do to protect my family during showings? – Protect the home, family and visitors alike by taking the following precautions.

a. Keep hand sanitizer at the front door to offer buyers and their agents when they enter the home.

b. If there is a guest bathroom, keep disposable hand towels and soap for guests to use and make the request known to the showing agent.

c. Offer disposable gloves for use with a receptacle for used gloves although most agents should have gloves on hand.

d. Limit the showing days and hours so you can properly clean between showings.

e. Have cleaning wipes handy. Request agents to wipe surfaces, door handles, and banisters which are touched during the showing.

f. Ask your agent to offer virtual showings or host virtual open houses if you do not feel comfortable having anyone walk through your home until things settle a little more.

4. What happens if my buyer loses their job? – Most real estate contracts include a contingency for the buyer loan approval and funding. Now more than ever, it’s critical to keep that contingency in place. In the unfortunate event the buyer loses their job or can no longer qualify for the loan during the contingency deadline, the parties cancel typically cancel the contract you keep the deposit.

5. Will I get a higher price if I wait to list my home? – The truth is no one knows. We don’t know how long or short the crisis will be and we don’t know how the financial market will weather the outbreak. While this is a question the seller will ultimately need to decide, the old adage about a “bird in the hand” is important to remember.

This spring selling season has proven to have unique circumstances – please contact me, Danielle Johnson, to learn more about the current outlook and opportunities in our market.

Stay safe

2 Storey For Sale in West Riverview, Riverview

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•  3221 sqft , 2 bath , 2 half bath 2 storey FOR SALE  CAD359,900 .
MLS® M127767

Welcome to 62 Patricia! This amazing 4-bedroom home is in the sought-after West Lake subdivision! The welcoming foyer leads you to a bright front formal living room, giving your guest a warm and inviting place to gather. A few steps away you will love the perfect sized dining room that opens to the beautifully renovated kitchen. The kitchen offers plenty of cabinet space and a convenient peninsula where you can enjoy your morning coffee. Flowing nicely into the family room, you will find a cozy fireplace and a large front window. The main floor finishes of with a mudroom and a half bath/ Laundry. The second level offers and great sized Master bedroom, with a completely renovated ensuite, 3 additional bedrooms and a 2nd full family bath. If more space is needed the basement has a completed family room, a half bath and a generous sized storage. This home is sure to impress, extras include a professionally landscaped lot, and custom trellis with paver stone pad. Call today to book your viewing appointment.

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Triplex For Sale in Sunny Brae, Moncton

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•  3 bath , 7 bdrm triplex FOR SALE  CAD359,000 .

ATTENTION INVESTORS! Welcome to the Braemar house within minutes from the Universite de Moncton, downtown Moncton and the George Dumont hospital. This extensively renovated and very well maintained triplex is a RARE FIND! 29 Braemar (currently owner occupied) features 3 bedrooms, spacious kitchen, dining area, large living room, 4PC bath, laundry, mini split for heating and cooling and could easily rent out for $1,500 a month. 31 Braemar also comes with 3 bedrooms, eat-in Kitchen with dark stained cabinets, living room, 4PC bath, Laundry, mini split for heating and cooling and could easily rent out for close to the same (currently rented out to the son’s of the owner who are attending UdeM) 33 Braemar is a unique 1 bedroom loft unit with la full bath and laundry and is currently rented out for $975. All 3 units are completely separate for heat, lights and water so tenants pay their own utilities. Each have their own air exchangers and private decks. This triplex was rebuild from top to bottom. You will not be disappointed.

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