Guide to Virtual Home Buying and Selling
The Covid-19 pandemic has significantly slowed things down. However, life hasn't stopped, which means there still is real estate selling and buying. The significant change is that everything has shifted to a virtual setting. The virtual home buying and selling game has evolved to ensure that deals can be made while following safety precautions.
For that reason, we have created the ultimate virtual property selling and buying guide. By following our directions, you will be aware of the challenges you need to overcome to successfully close the deal.
Virtual home buying and selling guide
Social distancing has completely changed the world of real estate. Some places have tightened regulations prohibiting in-person home tours and strict rules around home inspections and appraisals. To avoid all the hassle, all the arrangements are now made virtually.
The relocation experts from Centennial Moving say that more than half of their recent customers have bought their homes online.
Let's take a more in-depth look at the steps needed to successfully buy or sell a house in a virtual setting.
Selling your home virtually
Different challenges exist both for virtual home buying and selling. So, let's first take a look at the virtual home selling process and the steps involved.
- Virtual consultations
The typical scenario would be for listing agents to come to see your property in person. This is an opportunity for both of you to get to know each other and decide if you are a good fit. In a virtual setting, however, you will meet over video calls and have the role of a tour guide.
The consultation will start with a conversation about your motives to sell, goals, and plans. This information is needed so that your agent can deliver a personalized experience to you. The next step would be a video tour of your home for the agent to check the property's condition and decide on the following steps. The final step is to talk about pricing and how they plan to market your listing.
Be sure to ask your agent about anything regarding your goals. After everything is clear, they will walk you through the agreement and business disclosures.
- Virtual home staging
It's a fact that home buyers decide whether they will buy the property or not within the first few minutes. Therefore, it's crucial to make a great first impression. This is where home staging comes in.
Successful home staging involves:
- Painting your walls.
- Decluttering and personalizing.
- Maximizing the space's potential.
- High-quality photos
If you want to succeed in selling your home virtually, this step is essential. Professional photos will emphasize all of your home's right angles.
By following this step, you will make your home more appealing to potential buyers and be one step closer to making Vancouver your home. The reality is that people are more drawn to beautiful photographs and are likely to choose based on their first impression.
- Home listing
Finally, in this changing virtual world, how your home is marketed is of great importance. Your agent will know when and how to list it properly and promote it.
Additionally, they will feature your home on their website and create posts and ads for each milestone in the listing process. All of these steps will ensure your home has maximum visibility in the virtual market.
- Virtual home showings
You can virtually showcase your home by sending the potential buyer a 3D tour of the house, or their agent might come and have them on the other side of the screen
If they decide to see the house in person, it's essential to have shoe covers, maintain a distance, and clean the house before and after.
- Electronic signature
Once your agent collects all the offers, they will email them to you and discuss them in detail. Then, they will help you choose the best, go through the key terms, and provide recommendations.
After the offer evaluation, you can either choose to counter, decline, or accept the offer. All communication included in the process can be done over the phone, video chat, or email. Finally, once you decide on the best one and complete the negotiations, you will sign the contract electronically.
- Home inspection
The buyer's agent will schedule the time for an inspection. We recommend taking all the precautions and disinfecting the house before and after the inspection. After it's done, they will inform you of any repair requests.
- Closing the deal
The final step is to deal with the closing paperwork. They will walk you through each document, and a notary will also join to verify your identity and signatures.
Online house shopping
- Arrange a virtual consultation
This step is slightly different from the selling consultations. However, the goal is the same - to deliver a fully personalized experience.
On virtual home buying consultations, you will discuss the market conditions, your house must-haves and criteria, and your budget.
- Virtual home search
This is the most fun part. So, you've probably already been browsing yourself. However, your agent will email you homes that fit your criteria. Also, they can evaluate the homes you are considering and do background research if needed
- Attend virtual home tours
Once you find a home you want to see, your agent will schedule a home tour. The virtual tour can be done on Facetime in real-time or recorded and sent to you to watch whenever you want.
- Sign the contract electronically
Finally, once you are confident you've found the right home, it's time to make an appealing digital offer. It's highly recommended to send a personalized letter to the seller with the offer to introduce yourself. This is a small thing that might increase the chances of your offer getting accepted.
Ultimately, once your offer's accepted, it's time for digital contract signing.
- Checks delivery
In the usual scenario, you will need to deliver two checks: your earnest money checks to the title company and the option money for the seller.
- Home inspection
Typically your real estate agent will recommend or bring their own inspector to do a thorough home inspection. Afterward, you might proceed with your repair requests if there are any.
- Deal closing
If you wish to complete the process virtually, that is also a possibility. Luckily, there are ways to close the deal that are entirely remote and safe for everyone.
The virtual home buying and selling process works relatively similarly.
Once the funding is complete, you will get the keys to your new home!
The world is rapidly changing. Therefore, we need to adapt to complete our wishes and goals. Both virtual home buying and selling can be time-consuming and stressful since it's new. As you can see, a great agent on your side will tremendously help, whether you want to buy or sell your home.
Harmony Sense interiors – W10 Home staging