Can You Still Sell Your House During The Coronavirus Pandemic in North Carolina?

Can You Still Sell Your House During The Coronavirus Pandemic?

Many of us in the real estate industry were talking about an upcoming correction in the market place.  What it would look like..when it would occur, etc.  How this hot sellers market would “correct” into something more balanced, or even a buyers market similar to the one that occurred in the late 2000’s.  None of us anticipated a global pandemic similar to the Influenza outbreak of 1918.  We never thought it would force the world to stay at home!
Wake County Home Buyers has experienced the banking crisis of 2007 and the great ression that followed.  We are dedicated to helping you with all of your real estate needs no matter what is going on in the world. Below are some of the questions we have been receiving since all of this began. If you have any other questions, we are happy to answer them. Please reach out to Wake County Home Buyers today at (919) 473-6885

Can I still sell my house during the coronavirus pandemic?

Yes, you can!  There are still houses being sold.  We are buyers of houses as well as sellers.  However, listings are being withdrawn in records amounts, and in Durham NC showings are against the law.  What this means to the homeowner is that you can still sell your home but this is a very different market.  Much different than anything we have seen before.

On a positive note, all the necessary information on current inventory is available online.  Buyers don’t have to leave there house to look at houses.  According to Stacey Anfindsen, a real estate market analyst since the 1980’s

One thing that real estate has always had going for it is that 99% of all real estate purchases start online so buyers are used to doing this. In the old days you had to get in the car with the agent to go look at it. So this isn’t really a change in behavior for them

Also, many real estate agents are switching to virtual showings.  This allows all parties to stay safe and to comply with local stay at home orders.

What if I need to sell right away?

This depends on your current situation.  Are you facing foreclosure?  If yes, the bank will not be allowed to evict you from your home.  All evictions are suspended.  Many banks are offering to defer payments for at least 3 months.  The downside is that you will accumulate more debt that may come due in a lump-sum some time in the near future.  But for now, you can remain in your home.

If you were in a difficult situation before this started the solution will still be the same.  If you have a vacant house, inherited house, or divorce,  than selling to a local professional buyer will eliminate the need for a long process, and the hassle’s of a traditional sale.  The advantages of a direct sale are more relevant in this market than in any other.

Should I wait for the Coronavirus to be over before trying to sell my house?

It depends on your situation.  If you are looking for a different style of house, bigger, or smaller, I would say now is not the best time to sell.  Obeying the stay at home orders and practicing social distancing will be difficult during a home sale.

If you have a house that is sitting vacant that is costing you money–now is a great time to sell.  There is no reason to pay all the maintenance costs of a home or let debt accumulate if you don’t have to.

How can Wake County Home Buyers help me sell my house in  with everything going on?

You can contact us and we can have a conversation over the phone while staying safe and maintaining social distancing.  We can do a property walkthrough via video conferencing, or you can take photos/video of the home and then send to us.  This eliminates the risk of exposure by staying home and avoiding contact with strangers.  We can close quickly, without financing contingencies.  There is no waiting on a home inspector, appraiser, or any of the other vendors associated with a traditional sale.  You won’t have to make any repairs or pay any fees.

Can I stay in the house until this is all over?

Yes! You may be hesitant to sell right now because you don’t want to find somewhere else to live during all of this. If you need to stay in the home until this has subsided, we will do what we can to work with you. While we do not buy houses from everyone that calls us, we try and have a solution for as many people as we can. We are flexible in our process and strive to make it easy for you to sell your house during the Coronavirus pandemic.

Stay Current With The CDC

The CDC (Center for Disease Control) is continuously updating its information to help keep people protected from this awful virus. Remember to wash your hands frequently, avoid touching your face, and disinfect the common surfaces throughout the home. Most importantly, check in with your neighbors to make sure they are doing ok and have the supplies they need. We are all in this together!

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