2. Limiting People During Viewing
Another way we’ve adapted to these uncertain times is by limiting people during viewings. We want to make sure that we keep up with the CDC’s recommendations for social distancing and take every measure to keep ourselves and our clients safe. Your safety is of utmost importance to me!
The second thing to keep in mind when scheduling appointments is to make enough appointments. This is also important! No more than two people from the same household, plus one agent, can be in the home at any given time. All that to say—if you have a large group of people who need to see the house, make sure to book multiple appointments! This is the way to ensure that everyone has a chance to see the house. Remember, no more than two people at a time. Again, this is an extra step I am taking to ensure that we are staying as safe as possible.
3. New Coronavirus Listing Addendum
On that note, there is a new coronavirus listing addendum that allows sellers to set the showing rules. To be more specific, one of the options is requiring that buyers must provide proof of financing. One of the others is that a buyer must certify that they have viewed the property information online before their visit. This can include video tours, floor plans, disclosures, etc.
4. Have Your Proof of Funds and Pre-Approval Ready
The pandemic is still ongoing, so it’s more important than ever to have your pre-approval in hand before you start shopping. Some sellers now ask that all potential buyers have their financing lined up before they view the home to lower their exposure risk.
If you’re a first-time homebuyer, this step can often be intimidating. If that’s you, don’t worry—I’m here to break down what this means and walk you through the necessary steps.
Once you’re ready to throw your hat in the real estate ring, it’s critical that you have all the necessary paperwork lined up. This includes the mortgage pre-approval and proof of funds
. Now, what exactly is a mortgage pre-approval? This boring-sounding term is essentially a letter from a lender stating the loan amount for which you’ve been approved. It’s as simple as that!
This letter serves as proof of your financial ability to purchase the home, so you can understand why this is important to get in order beforehand. The pre-approval letter will typically contain your name, issue date, the loan amount you qualify for, the name of the lender, and the lender’s NMLS number.
And what is proof of funds? This refers to documents that show the seller that you have the liquid funds available to cover the cost associated with purchasing a home. This might be a statement of accounts from your bank statement, an open equity line of credit, or a copy of a money market account balance. Proof of funds documents typically require your name, issue date, name of the financial institution, and the amount that’s currently available.
If you have any questions, don’t hesitate to reach out to me! Remember, there are no dumb questions. It’s my job to help you navigate this process, and I will assist you in determining which documents will work best. We’re in this together!