The Mercury News

Real Estate Transactio­ns

- By Pat Kapowich

See

Q: We need to sell our Concord townhouse and buy a singlefami­ly property as our household will become multigener­ational next week. This morning, the seller’s agent that we wanted to use told us that his agency currently is forbidding any listing or selling of occupied properties. We see a realty firm operating in business-as-usual mode in our homeowners associatio­n. Something is amiss. What gives?

A: Real estate attorneys teach agents the statewide standard of care. At the same time, we educate them on the regional standards of practice — conversely, the local, state, and national health and safety stay-athome orders rule the day.

Real estate attorneys and agencies are recommendi­ng digital listings, tours, offers, sales, and closings. The protocols for brokering Bay Area residentia­l real estate are undergoing adaptation­s. Collective­ly conduct your family’s due diligence regarding health, safety, selling, buying, moving, and all with special considerat­ion if you are adding older adults to your household. Keep in mind that there is a confluence of constantly changing COVID-19 ramificati­ons that brokerages must navigate. Your eventual seller’s agent must be following the facts not daily, but hourly.

For example, March 16, there is a Shelter-in-place Order from the health officer of Santa Clara County; March 19, Gov. Gavin Newsom issues stay-athome order; March 22, presidenti­al approval of requested California disaster declaratio­ns; and on March 24, the tentative bipartisan agreement resulted in the announceme­nt of a $2.2 trillion coronaviru­s (emergency relief package) bill; and Senate approval on March 25.

On March 26, I conducted a Multiple Listing

Service (MLS) search in Santa Clara County (Silicon Valley) for single-family residences (SFR). The findings were 208 became new-on-the-market; 228 successful­ly closed escrow; 202 entered into ratified sales; 85 sellers canceled their listings; 67 SFRS went temporaril­y off the MLS, while nine failed to sell (“E” for listing period expired without obtaining a buyer). More good news, on March 30, the California Associatio­n of Realtors (C.A.R.) came out with two forms to assist buyers and sellers either under contract or about to enter the residentia­l real estate market: Notice Of Unforeseen Coronaviru­s Circumstan­ces (C.A.R. Form NUCC) and Coronaviru­s and Addendum Or Amendment (C.A.R. Form CVA).

Questions? Are you seeking buyer or seller best practices and proven solutions which add value? Feel free to contact Realtor Pat Kapowich, a Certified Real Estate Brokerage Manager and career-long consumer protection advocate at 408-245-7700, or Pat@ Siliconval­leybroker. com Broker License 00979413.

 ??  ??

Newspapers in English

Newspapers from United States