[ecis2016.org] Can you sell a home during the Coronavirus crisis? Here are few steps you can take, to keep your real estate business going during the pandemic
Until the lockdown is over, there is little scope for buyers stepping out of their homes, for site visits or inspection. With many districts declared as containment zones and strict surveillance everywhere, social distancing is the only option. So, how do you sell a home in this scenario?
You are reading: How to sell a home safely during the COVID-19 crisis?
While most of the buyers and investors are keen on holding back their investment, at the same time builders are offering refundable booking deposits and other bargains. To lure these fence-sitters, sellers should have a complete plan and a list of steps to be taken, to ensure a hassle-free experience for the buyers.
Here’s ecis2016.org News’ step-by-step guide for selling your inventory without hassle.
Prepare virtual tours
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As the lockdown was announced without any prior notice, you may not have a ready Digi-tour of the unit. In this scenario, you can ask the builder to provide the necessary materials, including the brochure and images of the sample apartment if it is an under-construction project, or photos of the actual apartment if it is a ready project. You can also keep 3D floor plans handy, to explain the layout to your buyer.
If you are pitching a resale unit, the owner may have some pictures. You can also ask the owner to join the call and help the buyer to take a positive decision.
To do all this, ensure that you have a stable internet connection and a professional-looking background, to conduct the meetings.
Discuss about the location and neighbourhood
Another thing that you should keep handy, is information about the locality. To explain the nitty-gritties of the neighbourhood, you can also use Google Earth and Google Maps. This will help the buyer to understand the exact location of the project and what lies nearby.
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You can also search for locality videos on the internet to justify how property prices may move, in the next few years. If you know anybody who lives in the same neighbourhood, you can ask them for help and get to know a few locational advantages. If you know an existing buyer, try getting a short video from them, explaining how they feel about investment in the project/locality.
Negotiation and final discussion over property price
As the buyer will be looking for discounts, you can include someone from the developer’s team and let them do the negotiation. While you moderate the discussion, ensure that the deal does not go awry, because of minor cost differences. Explain the benefits of investing right now and how prices may increase, once things get back to normal. With everyone looking for cost benefits, the buyer will look to you, for a beneficial deal.
Keep the sale agreement documents ready
While the physical verification of the documents is not possible right now, you can scan the essential documents and send it across to the buyer for scrutiny. You can also ask the buyer, if they want to involve a lawyer through video conferencing. Always include a representative from the developer’s company, so that any query raised regarding the legality of the project can be easily sorted out. Once this is done, you can have another meeting with the buyer, where you involve the home loan agent for processing their loan application. Meanwhile, you can also ask for the token money from the investor.
Once the token money is received and realised by the developer’s company, you can send a confirmation about the same to your investor, from your official ID and clearly mention the terms and conditions of any refund, if possible and other details you have discussed in the earlier stages.
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