DANE COUNTY MARKET
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Today I’ll discuss how we’re keeping clients safe in our real estate process.
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In light of the pandemic, people are frequently asking us if they can still buy or sell houses.
Fortunately, the answer is yes—we’ve just had to change our process to comply with certain public health measures.
If you’re a buyer, your buyer’s agent can take you on a virtual walk-through of a home you’re interested in, using Skype, Zoom, FaceTime, or similar apps to show off the house’s features in real-time, answer any questions you have, and highlight points of interest. We can even use the tools in our arsenal to give you a 3D tour that will show you the floor plan, room dimensions, and allow you to measure out spaces for your furniture.
If you’re interested in going to see the home in person, there are measures we can take to mitigate the risk to you and the sellers. We ask that you wear masks and disposable gloves when you enter the house, and we’ll designate someone to open doors and drawers so you can get a closer look. We’ll also note surfaces that are touched so that we can wipe them down and sanitize them once the showing is finished.
Even with those measures, is now the best time to buy?
I can’t tell the future with certainty, so I can’t say for sure whether or not it’s best for your situation to buy a home right now. I can, however, share that interest rates for a 30-year fixed mortgage are at 3%, which is very, very low. If you already own a house and don’t plan to move, now is a fantastic time to consider refinancing your home.
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Real estate will continue to be bought and sold, but we’ll do everything we can to help keep those involved in the transaction safe and healthy.
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One very real concern at this time is someone losing their job or getting furloughed between having their offer accepted and the closing table. The Wisconsin Realtors Association created a document that offers further protections in cases such as if the title company or real estate brokerage closes or you can’t close your transaction due to the pandemic.
One of our local title companies, Homestead Title, has been offering drive-up signings where the buyer and seller pull up in separate cars and a title officer will come outside to give you the papers you’ll need to sign and answer any of your questions. It’s worked out very smoothly as an added measure to keep everyone safe. Electronic notaries are also something that we anticipate will soon become a reality for us.
In the end, real estate will continue to be bought and sold, but we’ll do everything we can to help keep those involved in the transaction safe and healthy. If you have any questions or would like more details on any of these safety measures, don’t hesitate to reach out to us.
