2
Apr
Coronavirus: What should you do if you are in the process of buying
or selling your home?
Buying and selling property is often cited as one of the most
stressful experiences a person can go through and good advice goes
a long way during the process. This has never been more true than
during the current crisis.
Here are six things you need to know if you are in the process
of buying or selling a home:
1.Expect the process to slow down
The government has set out that home moves into occupied
properties should only take place where contracts have already been
exchanged and it has proved impossible for the parties involved to
agree a deferral.
2.Exchange and completion
For those who haven’t yet exchanged contracts, you are
still able to continue with your transaction and should use this
time to work with a conveyancer to progress the transaction and
read through the documents involved in moving home.
For those who have exchanged contracts, have a two-step process
to delay the move until the end of the current stay-at-home period,
with the ability to extend that timescale if government
restrictions are extended.
Every case should be treated on an individual basis and any
clauses or processes should be amended to individual needs. Once
all parties have agreed to a deferred completion date, then a
written agreement can be drawn up to vary the contract. To avoid
contamination, parties won’t need to sign a physical
document, but an e-signature will be needed to authorise this
deferral. This clause should state that once restrictions end,
there will be a period of time agreed before you move to enable
everyone to get ready. Ensure the timescale will give enough time
to sort removals and arrange everything, as there will be a real
demand for these services
Where deferral cannot take place, then completions will go ahead
for critical moves.
3.Removal companies
For critical moves, it is unlikely that any removal companies
will be operating due to the new government guidelines, so people
must safely move themselves and ensure social distancing and Public
Health England advice is adhered to.
4.How to stay safe during a move
If your move is critical and you move during restrictions, it is
important to stay safe and only do so if the property is empty. The
advice from Public Health England says that you must not endanger
yourself or others during a move and should complete a deep clean
of a property if you are moving into a new home and ensure any
governmental advice on decontamination is followed.
5.Preparation is key
It can feel daunting to pursue a move at the current time, but
even if you aren’t ready to move right now, conveyancing
experts can be working in the background to get everything ready
for a future physical move, so it’s always a good time to
start planning and paving the way for your future, whilst you have
lots of free time on your hands.
6.Communication will not stop
It’s possible to carry on the conveyancing process - we
are still working, banks are still working and a lot of client
communication and cases can be handled through remote working,
either on the phone or through Skype and Zoom to keep the ball
rolling and to ensure a professional and seamless service is
delivered.