The Viral Switch: Remote Buying of Real Estate
As you already know, everyday life has recently drastically changed for Americans. The challenges we currently face have changed how we lead our daily lives. Ranging from how we shop to how we socialize, the alterations to our routines are palpable. With these changes, the real estate market has shifted many of its methods.
How, do you ask? By pivoting the way homebuyers conduct their real estate purchases!
Purchasing Homes Remotely
You may be wondering how workarounds in the home buying process will work during shelter-in-place orders. The solution is simple: shopping sight unseen. There are many steps involved when purchasing a home, and this big change may perk interested ears.
Usually when homebuyers are going through the steps of purchasing a home, there are a ton of in-person meetings. This includes viewings, meeting with attorneys, notaries, real estate agents, and much more. With shelter-in-place orders, American homebuyers are trying to find ways to purchase homes from the safety and comfort of their home.
Do you want to know how it works? I’ll let you know!
The Beauty of Virtual Viewing
When it comes to virtual viewing, you may be interested in how this process works. The answer is simple! With the modern constructs of our technological world, the ability to view a home virtually is easier than ever.
You will be able to view homes online with video tours, photos, and the help of your real estate agent. FaceTime and other video communication platforms can easily be utilized by showing agents. These platforms let you see the interior of homes you’re interested in buying in real time without leaving home. This allows you to get a good feel for what a home’s layout is without worrying about feeling duped by perfectly angled photos and artfully shot videos that may not be totally honest.
Pairing video viewings with information about the details of a home, you’ve got the makings for the most practical way of purchasing a home sight unseen. Many companies are pivoting towards these methods because of how convenient they are coupled with the promise of minimal contact transactions to ease the minds of homebuyers.
Now, you may like the idea of buying sight unseen, but you may have questions about closing on a new home with minimal contact. Can it be done? Yes, it surely can!
For those in the market looking to close on a property with minimal to no contact, there are a few ways to go about doing so. As with virtual viewing, closing on a new home has moved towards utilizing technology as a way to ease through the process remotely.
Many people are meeting with attorneys and notaries virtually as more states incorporate laws legalizing online notarization. Homebuyers who find that they’re met with challenges related to Covid-19 are discovering that their states are legally extending closing dates to allow more flexibility for buyers.
As it were, many real estate companies have seemingly been stuck in the past technologically. How far in the past, you ask? Think “fax machine”. With the new wave of electronic closings, getting through the process from start to finish has become more simple and streamlined.
As the modernization of real estate transactions ramps up, the jump from the old school to the new wave of home buying has left many future home owners with hope. Many are happy to find they can continue on their search undisrupted during shelter-in-place orders. With the ability to view and close on a new home remotely, many homebuyers are taking the leap into these modernized approaches to real estate purchasing.
That’s great, isn’t it?
Real Estate Rebates
Remote buying may be the new norm for homebuyers across America, but there are other factors homebuyers should know about. If you’re on the market for a new home, you can use real estate rebates to save money during your home buying process. Many homebuyers are seeking companies who offer real estate rebates to help them locate the perfect home.
What’s a real estate rebate? Read on!
How Rebates Work
Usually, when you purchase a new home, the real estate agent or broker who you work with during your sale earns a commission. This commission is usually 6% and is split between the agency selling the property and the agency assisting the homebuyers. After the finalization of the sale, at the buyer’s agency shares a portion of their commission with the homebuyer, and the amount is usually in the thousands.
Getting a Rebate
When you’re purchasing a home, it’s important to know that all commissions are negotiable. If you’re interested in real estate rebates, you should speak with your real estate agency. Ask them if they offer a rebate to homebuyers. If you have to twist their arm over getting a rebate, your best bet is to move on to an agency like SquareFoot that is willing to ensure you receive one! Homebuyers interested in a rebate can trust companies like SquareFoot to deliver.