In response to the COVID-19 pandemic, Treadstone and other real estate professionals are establishing/generating new ways to do business—remotely! Our common goal is to keep transactions moving while keeping people healthy.
At Treadstone, we pride ourselves on being nimble and evolving our business when the time calls for it—and that is just what we’ve done!
Our goal is to inform you and minimize the fear and uncertainty you may be feeling about buying a home during this time.
Whether it’s your first time buying a home or your fifth, it’s okay to be a little confused about how COVID-19 has affected the home buying process. We are going to highlight what each industry has done to keep the home buying process as smoothly as possible during this time. After all, with interest rates lingering at historic lows, it is still an incredible time to purchase a home.
Mortgage – The Mortgage industry as a whole is strong. Unlike during the 2009-2010 financial crisis, we have a robust economy and money is cheap to borrow. Grand Rapids is one of the most desirable places to live, and there is still a significant demand for housing in West Michigan. However, the ripple effect of the stay-at-home order has made significant changes to people’s employment, so it’s important that you let your Loan Officer know if you have a change in employment.
Mortgage Applications can be done completely online, and your Loan Officer can walk you through all the paperwork face-to-face via teleconference. We will update you regarding any changes that might take place with your pre-approval. Our business is built on trust, experience and knowledge, so you couldn’t have your pre-approval in better hands right now! Many inspectors and appraisers are still working, so the home buying process can successfully endure!
Realtors – Realtors have never been a better tool than they are right now. They are hard at work coming up with innovative ways to give their clients virtual tours and measurements of homes. They are still your best resource regarding home values, pocket listings, and their invaluable relationships with industry professionals.
Appraisers – Appraisers are still working, and they instituted a few alternatives to the “classic” appraisals that are typically executed. During the stay-at-home order, they have other options available to them. See below for the full explanation on alternative appraisals.
Title Companies – this is an example of a closing procedure with a local company.
|* Beginning Tuesday, March 24, 2020 all closings will be conducted curbside
* Buyers and Sellers are asked to come to the office location and call the number they are given via email prior to the closing.
*The client will remain in their car and the closer will bring a clipboard with all documents highlighted for signatures. Our closer will verify their ID as the notary.
*The closer will be available via Facetime or phone call during the signing for explanations and questions to maximize technology and reduce exposure.
*When the signing is complete, the closer will retrieve the signed documents.
*We ask that all customers wait for 5 minutes before leaving the parking lot to allow our team to review the closing package.
As you can see, we are all adapting to our “new norm” by creating new ways to get things done. With a few tweaks, everything is running smoothly, and we can’t wait to meet with our clients face-to-face because that is what we love the most. Until then, we will capitalize on the amazing technology we have at our fingertips that enables us to provide these essential services during this unprecedented time.
For any questions or concerns you might have during your home buying process, we are here and ready to help—that’s why you picked us!
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Written by Meghan Howard Taylor