We are fully aware we are all in circumstances which very few of us have experienced before. Only those who were brave enough to live through the war will have experienced what we are all living through at the moment.
The best way to summarise things today is your life is on pause, the most frustrating thing I suppose is we do not know how long this will last. The 3-week lock down expires on Monday however there are strong rumours suggesting this will be extended.
Some people will be finding the level of uncertainty hard to comprehend and that will probably include those people who want to sell their property, whatever stage you are at in the process.
You may be thinking about putting your property on the market, if this is the case it maybe worthwhile waiting till lockdown is relaxed as people are not physically allowed to view properties. However, there are ways round this, for example virtual tours which we have offered numerous times already with some been successful. So, if your property has an EPC already please check the EPC register for clarification here or ask your estate agent there is nothing to stop you listing your property. Granted the levels of attention won’t be at their highest but there is still chance a buyer maybe found.
Alternatively, you maybe in a position where you have found a buyer. If the buyer requires a mortgage, we would strongly suggest speaking to your estate agent to see if the buyer can use a lender who will work from a desktop valuation. Similar to a virtual viewing the lender will run extensive reports on the property and make a decision on the value without having to send a valuer into the property because again this is permitted.
You me even be further into the process where the buyers have their finance, solicitors have finished their work and the sale is ready to complete. Unfortunately, this is where it gets slightly tricky. Last night it was announced by the law society that solicitors should only work on simultaneous exchange and completions. With the government not allowing anyone out of their house apart for medical reasons, work if necessary and shopping this is where things grind to a halt.
Its times like this where your estate agent needs to show their true value as communication is going to be so, so important to keep your sale going. There is a large percentage of sellers who are going to hit a wall. What I mean by this is their sale will get to a stage where everything is complete but unfortunately the solicitors will not be able to complete the transaction. Therefore, its imperative your agent stays in regular contact reassuring them you still want to sell the property once lockdown is relaxed. This may be ok for some but if you are relying on the funds from the sale things become slightly more stressful.
In these instances, there are other avenues you could explore. For example, there is the we buy any house industry. This industry is made up of companies who buy properties for cash. From our research we believe a large percentage of them have stopped buying due to the uncertainty. However, there are some sill offering their services. Better still they are buying properties without the need of a survey, inspection or valuation allowing them to complete on agreed deals today. So, if you need to sell a property fast and require it to complete asap this maybe the option for you. To help here is a number for you 03333 232 199. They will offer you a free no obligation valuation.