I had to put my home on the market during the first COVID-19 lockdown – almost exactly 4 years ago on April 5, 2020.
I had purchased a new construction home in 2019 that was going to be ready in June 2020.
Despite lockdowns, social distancing, school closures, only essential businesses being open, masking and a cleaning product shortage. Despite the unknown real estate market, economic freeze and mass layoffs.
I had no choice. I needed the equity from my current home as my down payment for my new one. I tried to wait out the “three weeks to flatten the curve”. I tried to wait to see what the market would be like on the other side of lockdowns but I was running out of time.
Showings were few. I had to sanitize the house before and after each showing. I had to leave all the lights on and closet doors open. Potential buyers were told to touch the least amount of surfaces, use hand sanitizer and wear a mask. My family and I went on long walks or car rides with drive-thru food during showings because there was nothing else to do safely. This added to the stress knowing we were letting others into our home during a time when we were told to keep our distance.
We took the only offer after a couple weeks of stress. It was $10,000 under asking. The closing date had to get pushed back 3 weeks because one buyer couldn’t get financing until her job re-opened. I had to arrange last-minute bridge financing to cover the gap in closing dates. I signed all the paperwork over Facetime with the lawyer. Virtual or e-signing wasn’t a thing yet.
Due to the changes in dates and financing, our closing was almost delayed. I am so thankful to my lawyer and her team, for working quickly to ensure everything came in just under the wire. The keys to my new home had to be delivered to my house because we closed at 4:55 on a Friday.
I don’t recommend selling a house during the initial stages of a global pandemic.
Despite the extreme uncertainty of the real estate market and the economy, my realtor, Tracie Tattrie, Royal LePage ProAlliance, my lawyer, Carolyn Knight, and my (now former) mortgage agent, Cris Vilela, worked so hard to help my family.
I learned so much from that experience that I now carry with me into my mortgage business today.
P.S. the image used above is my actual home once it sold!