On March 26, 2020, the Kentucky Real Estate Authority (KREA) provided guidance on real estate transactions since Governor Beshear issued Executive Order 2020-257 (3/25/2020), requiring the closure of all businesses that are not “life sustaining” to in-person traffic. Real estate has been designated a “life sustaining” business. However, this is not business as usual. All Real Estate Agents, Home Inspectors, Appraisers, and Auctioneers must follow the rules and guidelines set out in Governor Beshear’s recent Executive Orders and outlined in the KREA’s memorandum.
Auctions. Mass gatherings and live auctions are banned. The only exceptions are livestock auctions (due to their importance in the food chain), and real property auctions in accord with EO 2020-257 as long as social distancing measures are implemented. Online auctions are permissible, provided that drop-off and pick-up of goods or delivery of goods are carried out in accord with social distancing practices.
Home Inspections & Appraisals. Home inspections and appraisals may continue provided social distancing measures are implemented. Anyone feeling ill must “absolutely not” conduct an inspection or appraisal.
Real Estate Agents. Absolutely no open houses! Houses are allowed to be shown provided social distancing is implemented; however, all agents should be utilizing virtual tours, video conferencing, electronic signatures, and online notaries to eliminate face to face contact. In general, all licensing and CE’s should be available for renewal and certification online. For information regarding online notary publics and using video conference technology to witness a signing visit the Kentucky Secretary of State website.
Offices. Offices must be closed to walk-in and customer traffic. However, this should not be construed to prohibit working in the office when absolutely necessary, and when the task cannot be performed remotely. All licensees should be performing as much work from home as possible. Closing are still allowed but all closings that can be done remotely should be done remotely.
As with everywhere else, high risk individuals must be extra careful and anyone feeling ill should immediately self-quarantine. The full memorandum is located on KREA’s website, krec.ky.gov.
Mar 31
