Committing to a home is already one of the most stressful decisions many Americans make. Within the context of a global pandemic, homebuyers are under even more pressure as they scramble to close on a property. In order to soothe buyer fears as best they can, real estate agents are adapting at a rapid pace, signing paperwork in parking lots and finding digital ways to conduct what was a traditionally high-touch process. But even if agents hustle while taking precautionary measures, delays in appraisals and local government procedures remain as additional hurdles in an increasingly complicated affair.
Real-estate agents are rushing to help home buyers and sellers close pending house sales, as the pandemic poses unprecedented obstacles to a high-touch process traditionally done in person.
House hunting usually involves a lot of contact, from the initial tour or open house to the final inspections and appraisal. The official closing is often an in-person meeting with a notary or attorney who oversees document signings.
With the coronavirus pandemic bringing shelter-in-place orders, the real-estate industry has been compelled to find workarounds for every step of this process, often having to navigate local requirements and consumer anxiety.
Related Stories
Remodeling
Aging in Place: My Aunt Nancy’s New ADU
An apartment addition for an accessory dwelling unit to allow a family member to age in place presents several challenges and lessons learned for both the homeowners and contractor alike
Housing Markets
Average Homebuyer Income Increased Considerably in 'Pandemic Boomtowns'
Remote workers moving to Boise, for example, have raised the average annual income of homebuyers by 24%, to $98,000
Housing Giants
What Now for Residential Construction? The Housing Industry Post-Pandemic
The COVID-19 pandemic is essentially over, but the disruption to the housing industry that lies in its wake will be felt for years to come