A COVID-19 addendum better protects you during a transaction.
The new Coronavirus/COVID-19 Addendum created by the Arizona Association of Realtors back in March 2020 is designed to protect the buyers and sellers we work with in today’s market. How does it work?
Well, there are many different parties involved with a transaction beyond the buyer and seller—there are also the lenders, title companies, county recorders, and more who help with one or more aspects of the transaction. In the case that any of those parties are shut down and unable to operate due to the coronavirus, this addendum allows both the buyer and seller to wait on their transaction until the shutdown is over. After that, we’ll come back online and allow a 10-day period before closing the transaction.
If you have any questions or would like to speak more about the options we have to help keep you safe as you move forward with your plans, don’t hesitate to reach out to us. We have you covered.