April 22, 2021 / By Trusst Builder Group
The Trusst Builder Group, an experienced and respected Leland NC home builder wants past and future customers to know that the Covid-19 pandemic has had a profound influence on the home purchasing experience. As a result, there are several changes made to adapt to this new “normal.”
Industry professionals predict that certain practices have been forever changed and are not expected to return to past ways. Additionally, said subjects believe certain pandemic-inspired amendments are expected to remain in place long after the threat has ended. Moreover, certain pandemic-related behaviors might return to pre-Covid methods.
Past Practices Not Likely To Return
Large Open Houses
Prior to March of 2020, large, sometimes elaborate open houses were an integral part of the process. Certain real estate brokers spent significant sums of money turning said events into party atmospheres featuring memorable amenities like music and drinks. However, once the virus took hold, bans on large gatherings and social distancing guidelines nixed said affairs.
However, in actuality, many industry professionals applaud this change. These days, open houses are executed on a more intimate, agent-to-potential-buyer manner placing greater focus on emphasizing basic but important issues such as the home’s attributes and why said property is a good fit for the purchasers in question.
Pandemic-Inspired Behaviors Predicted To Linger On
The inability or reluctance for would-be buyers to travel to physically inspect properties of interest has led many potential home buyers to make offers sight-unseen. Some might opine this method is a risky proposition. Industry professionals debunk that theory.
Such efforts expedite the purchasing process. Moreover, many such arrangements include provisions enabling prospective purchasers to walk away if said properties do not pass inspection.
In the past, closings typically required the presence of purchasers, sellers, their lawyers, and all other pertinent individuals. However, the pandemic has fostered the growth of remote closings where the transaction’s final legal and financial issues are resolved remotely.
Industry insiders opine remote closings will likely linger on because of the convenience said efforts bring those required to attend such gatherings.
Online home tours were gaining in popularity prior to the pandemic and have only gained steam since. Potential buyers love the convenience of touring houses from the comfort of their easy chair and such desires are not likely to end any time soon.
Pandemic-Inspired Practices Primed To End
Social distancing and other safety precautions precluded appraisers from visiting homes and assessing their value after conducting thorough inspections. That said, institutions, such as banks, mortgage companies, purchasers, and sellers maintain this practice could result in misinformation that could greatly impact list prices.
The Trusst Builder Group enjoys a honorable and earned reputation as one of North Carolina’s leading custom home building companies. We strongly encourage anyone planning to relocate to this region to consult with us and let our company construct their dream home.