With inventory still so low, we are still in a Sellers Market. What does little inventory mean? Well, buyers room to negotiate is smaller due to overwhelming demand. Now offers are about how
Coronavirus and Buying a Home What you need to know
Dated: April 16 2020
Views: 272
Can I purchase a home right now?
The answer is YES!
South Florida is currently practicing social distancing, or, in some cities, following public health orders to shelter in place. That means Open Houses have been cancelled, and you might not be able to walk through a home in person.
Agents have gotten creative in adopting tools and technology that allow prospective buyers to take virtual tours, 3D tours of a home or take a video tour with an agent. Home video tours are where the agent walks through the home with a camera, using an app like WhatsApp, FaceTime or Zoom.
In some places, temporary business closures are affecting key parts of the real estate transaction, namely appraisals, inspections, lending, closing and title services, and moving. Affected businesses are looking for ways to adapt. We work closely with our partners to ensure the correct dates on a contract are set in place to protect you from the onset of an offer.
The Florida Realtor Association has issued a COVID19 Addendum to further protect buyers and sellers. The addendum extends important deadlines on a contract and defines how they should be extended in the event of delays.
The Federal Finance Housing Agency (FFHA) directed Fannie Mae and Freddie Mac to provide alternative appraisal requirements. Collectively, the two agencies back more than half of U.S. mortgages.
“To allow for homes to be bought, sold and refinanced as our nation deals with the challenges of the coronavirus, [Fannie Mae and Freddie Mac] will leverage appraisal alternatives to reduce the need for appraisers to inspect the interior of a home for eligible mortgages,” the FHFA said in a statement.
In Florida, measures have been taken for home transactions to continue. As of January 1st, 2020, remote online notary (RON) is legal in the state, and the National Association of Realtors (NAR) has presented a bill to allow remote notarizations across state boarders and make it easier to complete transactions.
Your Balestra Garcia Group agent is in the best position to know local conditions and advise you on restrictions that might affect your ability to close and as always ensure a smooth transaction.
Annette Balestra
Annette Balestra is a certified Pricing Strategy Advisor (PSA), her analytical passion positions her clients with an added value when negotiating. In addition, she worked as a paralegal for 7 years pr....
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Can I purchase a home right now?The answer is YES! South Florida is currently practicing social distancing, or, in some cities, following public health orders to shelter in place. That means
Buying a home right now might be challenging — touring in person is inadvisable in many cases, and prohibited in many areas due to public health orders. Job or economic uncertainty may also
Can I still sell my home during COVID-19?Yes! As per the order placed by Gov. Ron deSantis on April 1, 2020, all Florida residents are required to stay at home except to receive essential services.
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All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Updated on August 11, 2022 10:55 PM UTC
MIAMI ASSOCIATION OF REALTORS® All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested
The data relating to real estate for sale/lease on this web site come in part from a cooperative data exchange program of the multiple listing service (MLS) in which this real estate firm (Broker) participates. The data is provided exclusively for the user's personal non-commercial use, and may not be used for any purpose other than to indentify properties that the user may be interested in purchasing or leasing. The properties displayed may not be all of the properties in the MLS's database, or
Beaches MLS® All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
