Businesses have had to adjust to the new normal and residential real estate is no different. So, whether you want to buy a Markham house for sale, or sell your home in Markham, it is important to look at some of the other ways that the COVID-19 pandemic has affected residential real estate.
If there is one part of buying or selling a home in Markham that’s changed in more ways than others, it is the process of showing a home. As a crucial part of buying a property, showings let prospective buyers walk through the home to get a closer look at the features.
However, considering social bubbles and physical distancing protocols, showings were not allowed for a time in some areas early on in the pandemic. Other precautions added to showing procedures include not having more than two people tour the home, the need to sign COVID-19 liability waivers, and the requirements for all visitors to wear masks, gloves and sanitize their hands before and after visits.
Similar to showings, open houses were halted for most of the pandemic so far, and individual homeowners and listing agents now can decide whether or not they want to host one. Prospective buyers who want to take a closer look at a property when an open house is not possible can take a virtual tour by remote video.
COVID-19 Clauses in Closing Documents
Due to the unpredictability of the effect of COVID-19, many mortgage lawyers are including clauses in closing documents to help protect their clients in cases where COVID-19 affects closing dates or other crucial elements of the sale agreement are becoming affected.
Before COVID-19, mortgage and other legal documents relating to the sale of a house had to be signed in the presence of a legal witness such as a mortgage lawyer. Again, to maintain health and safety protocols legal documents may now be signed using a remote video application, like DocuSign.
For more help and information about the effects of COVID-19 on Markham real estate, check out our article “Should I Wait Until After Covid-19 Eases Before Selling My House?”