Covid Update - Buying and Selling Real Estate During Unprecedented Times

It is an unprecedented time in our world, first and foremost, I hope you are staying safe and your family is
healthy. If I can do anything for you, please don’t hesitate to be in touch.

I know many people are facing difficult times due to COVID-19. Many families are facing job loss, business
shutdowns, and financial challenges. If you are experiencing any of these things, please know that I’m
here to help in any way I can.

The Government of Ontario has reissued the Stay At Home order, however real estate is still considered
essential. Since March, we have established measures of conducting business virtually whenever possible
and safety protocols to ensure everyone’s safety during this challenging time.
I wanted to update some of the frequently asked questions I’ve been receiving from clients over the last
few weeks, I hope you find the information valuable.
 

Frequently Asked Questions:

What will this new measure do to the housing market?

Its really early to tell, however I can report that the year has started with tremendous Buyer interest and
very low inventory causing multiple bids and significant upward pressure on prices. Its important to note
that each area and type of property (Condo vs. Detached) is reacting differently. I watch the market data
closely, as the weeks progress we will know more.

Are houses still selling?

Yes.
While health and safety remain paramount, health authorities have asked all Ontarians to reduce or
eliminate in-person interactions, so we have found many ways to leverage technology to buy and sell properties.

Can properties still be viewed?

Yes.
While showings are still permitted, buyers are encouraged to leverage the virtual options made available
on listings before they view them in person.
Possible alternatives for face to face showings include using virtual tours, 360 walk-throughs, mobile
measurement applications and digital floorplans instead of in-person viewings.

Are there other services available, like home inspections and legal services?

Yes
Many of the people who provide these services are still working, but also using technology to conduct their
business. Home inspectors may not be offering in person services, but are offering virtual walkthroughs of
properties. Legal services are available, and firms are managing closings on a case by case basis.

Can properties still close?

Yes
Along with real estate agent services, the Government of Ontario has ruled the Land Registry Service an
essential service, so properties can close as scheduled.

Can you sell Tenanted properties?

Tenant-occupied properties have very specific rules. Tenants and landlords have respective rights under
the Residential Tenancies Act, administered by the Landlord and Tenant Board, and particular attention
must be paid to the tenant’s health and safety. Buyers are encouraged to assess their interest through
virtual options first. If they remain interested, you could work out a plan to safely view the property. During
the State of Emergency, there is presently a ban on evictions, which means if you would like a Tenant to
move it would have to be mutually agreed upon

What about home renovations?

The government has halted all non essential construction at this time.
If you have started construction before January 12th, the Stay at Home order, you are permitted to
continue.

I hope you have found this short update valuable. If you’d like to discuss in detail how any of the above
questions affects you, or if you would like to ask me questions about the real estate market, or talk about
your personal situation, please reach out to me and I’m happy to connect, virtually or over the phone. 

Stay safe and take care.