Renters are planning to go to a month-to-month lease since they need to buy a townhome; can they shop safely during the pandemic?
Q: Our apartment lease is up at the end of the month. We plan to enter into a costly month-tomonth rental agreement until we find a townhouse to buy. A two-level townhome is within our purchasing range and monthly budget. We’ve been working with buyer’s agents on each side of the bay. The agents told us our timing is perfect because more townhouses would be on the market in spring. We wanted to move because this topfloor apartment is too small for our growing family. Now we are sheltering-inplace with a second child and visiting inlaws. Are the agents truthful, claiming we can safely shop for a townhouse during this springtime pandemic stay-athome order?
A: The brokering of residential real estate has not stopped since the March 16 COVID19 shelter-in-place announcement for a half-dozen Bay Area counties. Real estate buyers, sellers, agents, vendors, associations, escrow companies and the county recorders’ offices addressed the challenges head on. The shelter-in-place order for San Mateo, Contra Costa, Alameda and Santa Clara counties began on March 16. Since then, the Multiple Listing Service (MLS) shows 68 townhouses went under contract, 162 closed escrows; 35 listings became canceled; 20 were temporarily taken off the MLS, while 12 failed to sell. As of April 15, there were 117 active townhomes for sale.
Additionally, safety precautions are becoming the norm. It is now customary to handle the majority of the home shopping, purchasing and closing online. Photographers and inspectors insist on visiting the subject property alone. Agents are scrutinizing property details in person for their clients using smartphones, Facetime and video cameras. Before inspections or showings, lights should be on, and doors, closets, and cabinets left open. Gloves, masks and booties over shoes are now commonplace. One person at a time should be inside the property. Depending on if the home is occupied or vacant, home sellers or agents should wipe down the interior surfaces, doorknobs and handles after every visitor. You’ll most likely visit a vacant property you want to purchase or already have under contract. Doublecheck each city’s and county’s protocols as to how a property can be visited. Remember, the precautions you employ to protect your newborn and in-laws should be in full force, too. Lastly, ask your agents for the California Association of Realtors’ Coronavirus Property Entry Advisory and Declaration (C.A.R. Form PEAD 04/16/20) that you’ll be required to sign before entering any property.
Questions? Realtor Pat Kapowich is a Certified Real Estate Brokerage Manager and career-long consumer protection advocate. 408-245-7700, Pat@ Siliconvalleybroker. com DRE# 00979413 Siliconvalleybroker.com Youtube.com/Patkapowich.