Has the Property Market gone into Hibernation during Lockdown?
What are the Governmental Rules with regards Moving?
Has my Estate Agent Given up on my Move?
There are lots and lots of questions about moving at the moment and although they may seem pretty insignificant amid the fears over the Coronavirus, to the individuals and companies involved, they still cause a great deal of stress and anxiety.
We will try to answer these questions to the best of our ability using the available information from the National Association of Estate Agents, as of the 30/03/2020.
Firstly, if you are buying or selling a vacant property, then this sale can still happen. If you are getting a mortgage, check with your lender and solicitor. They will provide you with further details. Most solicitors seem to be still working, albeit, like us, from home.
If you have already exchanged and are awaiting a completion. If this is involving an empty property, fine, completion can still happen on the agreed date. However, if you are involved in a chain, whether it be a short or lengthy one please check with your agent and solicitors as to whether the whole chain can still make the date. It may have to exchange again, thus negating the first exchange.
By doing this step, you can extend the completion date. You will need to check that anyone requiring a mortgage in the chain can have their actual mortgage offer extended to.
As previously mentioned most Solicitors and Estate Agents are still working to get those deals through for you wherever possible.
We at John Smale and Co, will try to provide you with a weekly update to keep you fully informed.
