How the COVID-19 outbreak impacts appraisals and closings
Life has shifted dramatically over the past few weeks. If you're in the middle of purchasing or refinancing a home, you may be wondering if itβs safe to move forward β especially if you need to schedule an in-person meeting.
While there is a lot of uncertainty around the COVID-19 outbreak, weβre doing everything we can to make sure you and those closest to you stay safe. All of our partners are following CDC guidelines for social distancing and weβre diligently working to adapt.
What we're doing
Things are changing quickly, but weβre working with industry stakeholders to look for alternatives to in-person appraisals and closings for some loans. Weβll keep you informed as we learn more about this potential option, but you can always reach out to your Mortgage Expert to see if you might qualify.
What our partners are doing
Weβre working closely with our appraisal and signing partners to make sure everyone follows social distancing guidelines, including:
- Keeping at least 6 ft. between people
- Cleaning hands often
- Cancelling appointments if they feel unwell
- Cancelling appointments if they have been in contact with someone whoβs ill
What you can do
Look for requests from notaries or appraisers before your appointment β these small changes in process are designed to help everyone stay healthy and safe. In addition to social distancing, please cancel your in-person appointments if you start to feel ill or have been close to someone who is. We know how uncertain everything is right now, and weβre making it flexible and easy to reschedule.
What to expect
We are closely watching changes to appraisals and closings at the county level as greater spread of COVID-19 often leads to delays. If that happens in your area, weβll reach out individually to plan how we can move ahead.
This is new for all of us, but weβve always believed that transparency, accuracy, and honesty are the best way forward. Thatβs no different now. Weβre committed to keeping everyone informed as we learn more.
In the meantime, thank you for your patience. Weβre wishing health and happiness for your home.