Many businesses have been affected, and some have been destroyed, by the global pandemic. Last year median real estate prices increased 7.1% in Wake County, but the process of selling a home has become more complicated. New regulations for social distancing have been put in effect. Sellers must be mindful of disinfecting their homes after showings. Not to mention the risk they face of being infected. Also, many services such as mortgages have been delayed. In addition to durable goods such as major appliances, construction materials are on backorder. We will explore why more people are choosing to sell their homes directly in Raleigh during Covid-19.
Speed
Because direct buyers like Wake County Home Buyers close faster than traditional home buyers, more people are choosing to sell their homes directly in Raleigh during Covid-19. Most buyers who will occupy the home will need to finance their purchase. This requires qualification from the bank and a lengthy underwriting process. This process will involve extensive documentation from the buyer as well as an inspection and appraisal process. If your buyer is particularly proactive this can be done in 30 or 40 days. But if you have a buyer that is not responsive the process may be drawn out as long as 60 days. Assuming they qualify for the loan at all. If your need to sell is due to a relocation for work or personal reasons, unless you sell quickly, you will likely be carrying the financial burden for two homes. In addition to the stress and expenses of holding two properties, you will either be required to do a great deal of traveling or hire a caretaker for the property you have listed.
Showings & Traffic
At Wake County Home Buyers we have bought and sold many properties. We understand that the request for showings comes pouring in right away. If your home is vacant and you have an agent this isn’t much of a hassle. But if you are still living in the home, especially during covid-19, this can be a nightmare. Getting last minute request for showings. Having to leave the house multiple times daily to maintain social distancing rules, and then disinfect upon return. This reason alone is why more people are choosing to sell their homes directly in Raleigh during Covid-19. By selling directly to a company like Wake County Home Buyers, you can eliminate all of the frustrating phone calls asking if your house is available right now to show your home. You won’t have to worry about cleaning and sanitizing every day before heading to work, just in case there is a showing while you’re gone.
Traffic in Your House
Opening your house to the public has always been risky. Though rare, there are occasions where homes have been burglarized during this time period. Then there is the dirt that is brought in by the constant traffic. The fact that we are amidst a pandemic adds the extra dimension of risk via germs and contamination. If you aren’t working with a real estate agent that has grown accustomed to the new steps for self-protection, you will have to educate yourself on all of the necessary steps to protect yourself and be certain you have strict management of visitors in your home. This risk is why more people are choosing to sell their homes directly in Wake County Home Buyers during Covid-19.
No Repairs (No Repairs)
When selling a home the traditional way there is always an inspection period, or due dilligence period, followed by a due dilligence request (DDR). This is when the buyer asks for a laundry list of repairs and or concessions. All houses have items that pop up on these requests. Many iBuyers, who are cash buyers, will hit their sellers with these requests. This leads to extra hassle by having to spend money on technicians to make repairs.
Professional home buyers like Wake County Home Buyers in Raleigh never require their sellers to make repairs. As a seller, this means you do not have to worry about repairs before closing or any other additional expenses you were not planning on. At Wake County Home Buyers we are willing to accept the risk of an as-is sale, which makes the process even quicker. We work with you, laying out every step of the process, and have shortened, clear contracts that are simple as-is purchase agreements. This is another reason that more people are choosing to sell their homes directly in Raleigh during Covid-19.
Legal Risks
By working with Wake County Home Buyers, you will also have lessened exposure to any legal risks. You won’t have to worry about the buyer finding something you simply did not know about, and therefore didn’t disclose or suddenly discover something they don’t like about the home or the neighborhood. Under most traditional real estate contracts, there is a potential for the buyer to sue you if they feel the property was misrepresented, or if the NC Residential Property Disclosure form was not properly filled out. This is a big reason more people are choosing to sell their homes directly in Raleigh during Covid-19.
While we can’t cover all of the reasons selling directly may be one of the best precautions you can take to protect yourself and your family here, at Wake County Home Buyers, we completely understand your concerns. At Wake County Home Buyers, we will stop and take the time to listen and we’re more than happy to answer any questions you may have. Please send us a message or call Wake County Home Buyers today at 919 – 473 – 6885.