FAQ: Contract To Close Process during COVID-19
Is the Sue Adler Team currently conducting pre-inspections?
As of March 16, the SAT has temporarily halted pre-inspections but we are evaluating on a daily basis.
Are buyer’s home inspections moving forward?
For now yes, since this aspect has been deemed an ‘essential business’ by the Gov. For a full of what has been deemed and ‘essential business’ please visit:
What precautions are inspectors taking to ensure the safety of the public and to ensure that they do not unintentionally cause the spread of the virus?
The inspectors we are using have instituted many of their own safety protocol. This is an example of what one inspector has implemented: Wearing gloves, masks, and shoe covers. For the purposes of social distancing the inspector is the only person who will attend the inspection (no client, Realtor, or homeowner will be present).
Does the homeowner still need to leave the premises during the inspection?
We still recommend that the homeowner not be present during the inspection. Mainly because most inspectors will not perform the inspection if there is anyone in the property. Secondly, because the order provides for certain exceptions, such as obtaining essential goods or services, seeking medical attention, visiting family or close friends, reporting to work, or engaging in outdoor activities, we recommend that you run some errands or engage in some outdoor activity during the inspection while maintaining social distancing.
What is the status of appraisals?
The FHFA (Fed. Housing Finance Agency) announced a temporary expansion to appraisal alternatives.
To allow for homes to be bought, sold, and refinanced as our nation deals with the challenges of the coronavirus, the Enterprises will leverage appraisal alternatives to reduce the need for appraisers to inspect the interior of a home for eligible mortgages. The FHFA website has additional info as well:
Are attorney’s still conducting closings?
Yes, since this is one of the aspects that has been deemed and ‘essential business’ by the Gov. Much like inspectors and many other contractors, repair persons, etc. attorney’s have instituted many of their own safety protocols. For example, I spoke to several attorneys and during the closing the only people in attendance will be the attorney representing the buyer(s), the buyer(s), and the settlement agent (many settlement agents have developed their own safe closing protocols).