How to Sell My House During Covid-19?
Covid 19 has deeply affected everyone in ways that we cant possibly imagine. If you were looking to sell your home, you may be having doubts about weather the time is right or if you should wait. Even though the economy has slowed down, the real estate market is still going. Its not too late to sell your house.
Prices have not yet begun to lower, the longer you wait the less your house may be worth. If the economy goes into a recession then the real estate market will eventually follow. Many potential home buyers who have lost their jobs are now sitting on the sidelines waiting for things to get better. Mortgage companies are tightening up lending practices and are only lending to individuals who have a strong background, an excess of reserves & a large down-payment. This reduces the amount of buyers that can potentially buy your home. Not only does Covid 19 & a smaller buyer pool make things hard, the fact that people are socially distancing themselves and doing their best not to go outside is making it even harder to sell your home.
Covid 19 has made a lot of potential buyers walk away from the deal do to uncertainty. Even now it is still causing a problem for most real estate transactions. So if your really need to sell your house and are looking for alternatives, one way to do it is to sell to an investor who is buying all or by using creative methods.
There are buyers out there who are still looking to buy homes at this time. A lot of them are investors. There are no bank approvals because an investor doesn’t need a bank. They have the cash to close and can do so within days if needed. There are less buyers in the market who can buy with a mortgage but if you sell to an investor there is a higher probability that selling your house may be possible.