Selling Your Home in the Age of Coronavirus
It feels as if the world has turned upside down amid the coronavirus pandemic, and many industries are struggling with the resulting impact, including the real estate market. Some sellers are delaying the sale of their home, while others are pulling their homes off the market entirely.
If you are currently considering or have recently considered selling your home, this article addresses what to take into consideration regarding the coronavirus outbreak. If you are interested in partnering with a company that pays cash for houses in Tampa, give us a call at Ethical Home Buyers today.
Should You Delay Selling Your Home If Possible?
There are many reasons why you may not be able to delay the sale of your home, including being under contract to buy another property, struggling with your mortgage, or simply needing money fast. Although all of these items are reason enough to sell a home, it’s important to fully consider why delaying during the current pandemic may not be your best option.
For starters, although there is talk of the coronavirus bringing forth a full-blown economic recession, it has yet to occur. We cannot say the same for what the economy may look like twelve or even six months from now. You’re less likely to obtain the asking price you’re hoping for if the entire housing market has collapsed. Additionally, mortgage rates have recently dropped and are expected to drop even lower, following a 50-year low of 3.29 percent for 30-year fix-rate mortgages. Many homebuyers may choose to capitalize on these rates now, rather than waiting.
How Has the Listing Process Changed?
If nothing else, the coronavirus has drastically changed the traditional process of selling your house for the time being. Open houses are either taking place with significantly less attendance and interaction or being cancelled outright. Other homebuyers and sellers are limiting their exposure by way of virtual tours of the property. Large iBuyer home purchase programs have been suspended by giants like Redfin, Zillow, Realogy, and Opendoor due to mounting concerns about contracting the virus.
If you are looking to receive cash for homes in Tampa fast and are struggling to sell your home amid concerns related to the outbreak of the coronavirus, it is time to contact our team at Ethical Home Buyers. We buy all types of houses in any condition at any price range. If we do make an offer on your house, we charge you no fees or no real estate commissions. For more information on how you can sell your home for cash fast, contact us today.
Disclaimer: This website is not a substitute for legal advice. If you have a serious legal, tax, or other issue requiring professional advice, please consult with an attorney or CPA.