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Realtors prepare for COVID-19 impact

Chantel Ray Real Estate agent Erica Rich explained one concern they’re experiencing is the cancellation of a physical tour of a home due to the coronavirus.

NORFOLK, Va. — The coronavirus is not stopping homes from selling, but it is causing some delays in the home buying process.

Norfolk resident Mary King just sold her home.

“We had a home inspection on Monday and I was really careful after the home inspection to go through and knobs, light switches, and everything. I sanitized and all that sort of thing. You got to be careful,” said King.

King said she’s lucky her home was bought before the coronavirus took hold.

“It’s not necessarily saying that you can’t do it but obviously you can and I was very, very fortunate we got an offer as quickly as we did,” said King.

Chantel Ray Real Estate agent Erica Rich explained one concern they’re experiencing is the cancellation of a physical tour of a home due to the coronavirus.

“Which in turn will hurt the time of their house on the market, the sellability and marketing, because people want to get inside before they start at-contract,” said Rich.

Rich pointed out her agency’s attorneys are working on an addendum to help homebuyers.

“If one person is affected or infected with it that they have a longer timeline to close that way they are not being accused of not being able to certain performance on a contract,” said Rich.

Mortgage loan officer James Loney expressed to his clients not to worry.

“It’s a great time, rates are at a historic low, for the most part. We’re seeing a little fluctuation but a lot of experts on the industry are thinking it should pass once the coronavirus situation kind of grasp,” said Loney.

King hopes she can get out of her house soon before the virus gets worse. Attorneys are still working to finalize the new addendum that will be part of a contract if someone was impacted by the virus. 

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