The COVID-19 Addendum to the Agreement of Sale can be used to modify the terms of the sales agreement in the event third-party services become unavailable or so limited that meeting deadlines in the sales agreement are impossible or impractical.
“We see lingering effects of the coronavirus on shopping behavior and preferences. In the Northeast, especially, people are now as likely as before the pandemic to be looking for a home in a market that’s not where they currently live. However, those looking elsewhere are much more likely to be looking in smaller, nearby markets,” said realtor.com® Chief Economist Danielle Hale.
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The COVID-19 pandemic has impacted 75% of people’s homebuying plans, a new survey found.
Read MorePAR has continued to update its resource section regarding COVID-19 (coronavirus).
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The ability of landlords to evict tenants as a result of the COVID-19 pandemic through at least Aug. 31 is restricted due to a number of eviction moratoriums applicable in Pennsylvania.
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“More people are selling to be closer to family and friends,” said NAR’s Dr. Jessica Lautz. “Younger millennials’ reason for buying is to be closer to friends and family.”
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For commercial Realtors®, recovery from the pandemic is offering both highs and lows.
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A recent Porch.com survey found that 76% of homeowners have completed at least one home improvement project since the coronavirus shutdown occurred in the U.S. Even more owners (78%) plan to complete a project over the next year.
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