Real Estate Market Today: New Laws In The Bay Area
In light of COVID-19, there are plenty of new precautions and rules that the world is encountering.
And as you may have guessed, there are also new laws regarding real estate and how the home buying and selling process unfolds.
These laws have been put in place to help ensure everyone involved in the home buying process remains safe and healthy.
When you hear “new laws” that might make you worry that buying or selling a home may now be near impossible.
You may even be wondering if this means your Bay Area real estate dreams are on hold.
Thankfully, that’s not the case! You can still fulfill all of your real estate ambitions in the Bay Area, and you can do it with minimal risk to yourself or others.
Today we will discuss the new real estate laws in the Bay Area and how BlueFin is complying with those laws to help make your home buying dreams happen safely.
COVID-19 Bay Area Real Estate Laws
Showings Are By Appointment Only
Gone are the days of spontaneously dropping in on an open house.
Appointments for showing must now be made in advance. You will need to speak to your realtor and book a good time for your showing.
This allows time for the home occupants to make plans to be out of the house during the showing, and helps keep prospective buyers, sellers, and real estate brokers all safe.
Occupants Must Step Out And Observe Social Distancing
It is mandatory that any occupants of the home being sold step out of the house for the entirety of the showing.
This is important because it allows for proper social distancing to occur and helps stop the potential spread of COVID-19 which lowers the risk for buyers, sellers, and realtors alike!
If you are selling your home, take the time during the showing to go on a family walk, get groceries, or maybe run some errands.
As a buyer you can feel confident that you will be safe while viewing your possible future home.
Agents Should Only Show Properties In Person As Necessary
Before your real estate agent agrees to an in-person showing, they will require pre-approval from your lender and you must show a serious interest in the property.
Your realtor will help you make sure you already know a lot about the property and have the necessary paperwork.
This removes some of the risks of people continuously looking at different homes and accidentally spreading the virus.
Reasonable Measures Must Be Taken For Sanitation And Social Distancing Efforts
Social distancing is one of the best ways to combat COVID-19. Both real estate agents and their clients need to be mindful of taking the proper precautions.
Be sure to stay 6 feet apart at all times to make social distancing efforts successful.
Disinfecting any shared surfaces, such as doorknobs, countertops, and clipboards can help keep those involved healthy.
Both agents and customers washing their hands often, for a minimum of 20 seconds with warm water and soap, is also a great way to keep things sanitary. When washing hands is not a possibility, using hand sanitizer will work in its place.
Real Estate Transaction Are Still Essential
It’s good to know that buying your dream home, selling your house, or even purchasing a new storefront or business is not going to be stopped by this pandemic.
Real estate is an essential business in the Bay Area.
Whether the transaction is commercial, or residential, it is still considered essential.
As long as guidelines for showings and visits are followed, real estate transactions can and will continue to take place.
When everyone follows these new laws, those involved will remain safe while still achieving their real estate aspirations. A win-win for everyone!
A Solution In Virtual Tours
Videos tours like this one are a fantastic way to see occupied residences during the COVID-19 pandemic.
A virtual tour allows you to see if a property is a good fit from the safety and comfort of your home.
If you’re still interested, an in-person, the tour can then be scheduled for up to two people.
When you tour virtually you get to see the home in depth without risking yourself or the real estate agents’ health.
Then, if you feel confident that you are seriously considering the home, you can simply schedule an in-person tour and follow all of the other safety protocols.
Social distancing is one of the best ways to prevent the spread of COVID-19 and virtual tours are an amazing way to stay socially distant while still fulfilling your real estate dreams.