@ The Market Special Report: Buying a Home Amid COVID-19
With a renewed focus on the value of home and a desire for more space, buyers are eyeing this summer’s real estate market with great interest. But, amid the changes brought on by COVID-19, many homebuyers also have questions about how to move forward – from getting a mortgage approval to safe showing procedures and from making an offer to navigating the attorney review and closing processes. So in this special edition of @ The Market, recorded in mid-May, @properties co-founders Mike Golden and Thad Wong are joined by a range of industry experts to shed light on the homebuying process today.
To kick things off, Mike and Thad discuss how the Chicagoland market is performing. The duo notes that, despite stay-at-home orders still being in effect in most of the Midwest through May, market performance has exceeded expectations. Dan Moran of Guaranteed Rate joins the webcast to talk about mortgages, and shares insights on everything from down payment options to credit requirements to how the mortgage approval process has changed.
Beyond mortgage approvals, one of the biggest questions on buyers’ minds is how they can view homes for sale. George Schultz and Tricia Riberto, vice presidents of brokerage services for @properties, talk about the importance of being prepared and how buyers can compete in markets that are (to some buyers’ surprise) seeing quick sales and multiple offers.
So what happens after your offer is accepted? Real estate attorney Kelli Fogarty offers tips for the attorney review process, while Proper Title EVP Kathy Kwak talks about “curbside closings” and other precautions that are being taken to keep all parties safe before buyers get the keys to their new home.
Watch the video to learn more about the homebuying process today.