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Q: We need to sell our Concord townhouse and buy a single-family property as our household will become multigenerational next week. This morning, the seller’s agent that we wanted to use told us that his agency currently is forbidding any listing or selling of occupied properties. We see a realty firm operating in business-as-usual mode in our homeowners association. Something is amiss. What gives?
A: Real estate attorneys teach agents the statewide standard of care. At the same time, we educate them on the regional standards of practice — conversely, the local, state, and national health and safety stay-at-home orders rule the day. Real estate attorneys and agencies are recommending digital listings, tours, offers, sales, and closings. The protocols for brokering Bay Area residential real estate are undergoing adaptations. Collectively conduct your family’s due diligence regarding health, safety, selling, buying, moving, and all with special consideration if you are adding older adults to your household. Keep in mind that there is a confluence of constantly changing COVID-19 ramifications that brokerages must navigate. Your eventual seller’s agent must be following the facts not daily, but hourly.
For example, March 16, there is a Shelter-in-Place Order from the health officer of Santa Clara County; March 19, Gov. Gavin Newsom issues stay-at-home order; March 22, presidential approval of requested California disaster declarations; and on March 24, the tentative bipartisan agreement resulted in the announcement of a $2.2 trillion coronavirus (emergency relief package) bill; and Senate approval on March 25.
On March 26, I conducted a Multiple Listing Service (MLS) search in Santa Clara County (Silicon Valley) for single-family residences (SFR). The findings were 208 became new-on-the-market; 228 successfully closed escrow; 202 entered into ratified sales; 85 sellers canceled their listings; 67 SFRs went temporarily off the MLS, while nine failed to sell (“E” for listing period expired without obtaining a buyer). More good news, on March 30, the California Association of Realtors (C.A.R.) came out with two forms to assist buyers and sellers either under contract or about to enter the residential real estate market: Notice Of Unforeseen Coronavirus Circumstances (C.A.R. Form NUCC) and Coronavirus and Addendum Or Amendment (C.A.R. Form CVA).
Questions? Are you seeking buyer or seller best practices and proven solutions which add value? Feel free to contact Realtor Pat Kapowich, a Certified Real Estate Brokerage Manager and career-long consumer protection advocate at 408-245-7700, or Pat@SiliconValleyBroker.com Broker License 00979413
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