Are People Actually Buying and Selling During the Shelter-In-Place?

Buying and Selling in San Diego County During SIP

The rules for Real Estate engagement has changed to support California's Shelter in Place (SIP) orders. Some cities and counties of California are establishing more stringent rules than Governor Newsom set for the state.  We also have our local MLS (multiple listing services) setting suggested standards of practice. 

At Sereno Group we put safety first, demonstrating our care for the health and safety of clients, colleagues and the greater community.  If you would like to learn more about how these guidelines affect you personally please reach out and we will set up a call to review your personal situation in detail.

It is essential that all sellers and buyers keep themselves aware of, and actually practice, all legal requirements and recommended safety and sanitary practices. You are assuming the risk if you choose to violate the SIP and/or local county recommendations.

SELLERS

Sellers who have any misgivings about allowing people into their residences, such as prospective buyers, their agents, or any of the other professionals who are involved in the process of selling a home (e.g., appraisers, home inspectors, repair personnel) should consider postponing the sale of their property and/or delaying the close of escrow. 

Sellers who are not healthy, have special medical needs (such as a depressed immune system, diabetes, or require a special breathing apparatus), are exhibiting any flu or COVID-19 symptoms or are otherwise not feeling well, should immediately protect themselves and others by delaying marketing their property and/or close of escrow.

Services that support real estate, which include stagers, appraisers, landscapers, painters, handymen or providers of beautification construction, are allowed. All workers are asked to sign the PEAD form and contractors and must operate under the best practices as prescribed by the CDC.

Open Houses

In compliance with the county government-mandated SIP and the general concern for the health and safety of our community, real estate agents are prohibited from holding open houses to prospective buyers and buyers agents at this time. However, virtual open houses are permitted and are a great way to build exposure for your listing.

Showings

Both occupied and unoccupied homes can be shown to prospective buyers. Showings should be done virtually, if at all possible. Showings are limited to 2 family members and 1 other individual max, keeping in mind a 6-foot social distancing rule while inside the property at all times. And when a home is occupied, the occupant may not be present on the premises during the showing. Anyone accessing a property must sign a C.A.R. PEAD waiver and assume the risk of infection. Sellers, by allowing a buyer to access the property, are agreeing to clean the property between showings.

It is now becoming more popular for sellers to require verification of funds exhibiting the buyer’s ability to purchase, as well as written receipt that virtual tours have been watched and property disclosure packet has been reviewed. Buyers should only view a property that they are seriously considering writing an offer on, or write an offer unseen subject to inspection.

Agents must meet clients at the property rather than driving together, to minimize risk. All persons visiting a property should wash their hands with soap and water or use hand sanitizer prior to entry, and wear disposable rubber gloves and a protective face mask, and keep.

BUYERS

Much of the initial home-buying search process can be done online to assess which properties are available and to narrow your search. Other aspects of the real estate transaction can also be accomplished online, including but not limited to: loan applications, document signatures and delivery of contracts, advisories, disclosures, inspection reports, and other transaction documents.

However, not all of the home-buying process can be done digitally. For example, it is strongly recommended that buyers actually see a home in person before deciding to purchase it or write an offer with a physical inspection contingency, which would be subject to a suggested period to conduct inspections.

Buyers who are not healthy, have special medical needs (such as a depressed immune system, diabetes, or require a special breathing apparatus), are exhibiting any flu or COVID-19 symptoms or are otherwise not feeling well should immediately protect themselves and others by not leaving their current residence.

Frequently Ask Questions

Q: ARE BUYERS STILL MAKING OFFERS ON PROPERTIES?

A: Yes. Some properties are in competition and receive multiple offers despite the current climate. We recommend that if buyers are interested in staying active that they work with us on a realistic plan and timeline given the current restrictions on touring properties. 

Q: CAN BUYERS STILL GET FINANCING? 

A: Yes, however buyers will need to discuss their specific financial needs with their loan officer.

Q: CAN BUYERS STILL CLOSE A TRANSACTION? 

A: Yes, however, delays are possible. Most title companies are working remotely from home. And the local San Diego recorder’s offices have reduced hours of operation however if your loan has been successfully funded you will still be able to close and record.

Q: CAN A BUYER STILL “MOVE IN”? 

A: Yes. Moving is currently still considered an essential business, so a buyer can schedule a move out/in once they close escrow. We advise buyers to consider the health risk associated with moving at this time, wait the recommended amount of time after the sellers move out and hire a cleaning service to do a complete cleaning of the property before move in.