Buying and selling property post Covid-19

Coronavirus has taken its toll on the UK and the rest of the world but, gradually, as lockdown finally begins to ease, shops and businesses are re-opening their doors.

At this point it’s hard to predict exactly how the property market is going to be affected. There are convincing schools of thought from both sides of the table about whether now is a good or bad time to buy or sell. One thing for certain though, is that safety remains the number one priority for all concerned.

So, as the country adjusts to a tentative ‘new normal’, if you’re looking to buy or sell property what do you need to be aware of? Here we try to answer some of the big questions on everyone’s mind…

 

Can I buy or sell property at the moment?

The short answer is yes, you can. You are free to make or accept an offer as normal.

The key point to stress here is the need for flexibility as there is a greater risk that you may need to delay your move due to someone developing symptoms of coronavirus or needing to self-isolate.

Official government advice reads: “We encourage all parties to be as flexible as possible over this period and be prepared to delay moves if needed, for example, if someone becomes ill with coronavirus during the moving process or has to self-isolate. You should not expect to move into any home where people are ill or self-isolating.”

 

How are conveyancers affected?

A large percentage, if not all, of conveyancing work can be done remotely, so property solicitors have continued to provide services throughout lockdown.

The government advice states: “Conveyancers should do what they can to promote flexibility making provisions for the risks presented by coronavirus, for example when advising their clients who are ready to move not to exchange contracts on an occupied property unless they have made explicit provision for the risks presented by the virus”.

Here at GD Legal, we are specialist conveyancing solicitors, so – if now is the right time for you to move – we will help you to safely navigate these unchartered waters, protecting you and your property transaction.

 

Can I still get surveys done?

Surveyors must follow government advice for professionals working in other people’s homes and guidance on social distancing, so understandably things are taking a little longer than normal but, yes, surveyors are now able to carry out surveys providing no one in the property is showing symptoms of coronavirus or self-isolating.

 

Can I physically move into a new house?

Yes. Removal firms are allowed to operate so if you require assistance with your move you should speak to your chosen company directly to discuss the measures they have in place. The safest option here though is to do as much of the packing yourself as you can to help minimise risk.

 

Is now a good time to buy or sell property?

This is the million-dollar question and the answer is hard to gauge. For some people though we understand that delaying is not an option, you simply need the safest way forward. Which is precisely why you need a team you can trust by your side, ensuring matters run as smoothly and safely as possible for you.

Worth noting too that – to help restart the housing market – the government has announced a reduction in rates of Stamp Duty from 8 July until 31 March 2021, with properties under £500,000 paying nothing at all. These rates will apply whether you’re a first-time buyer or already own property and could save you a substantial amount of money.

 

Why working with GD Legal is the smart choice

Thanks to our modern approach we already offer a predominantly online service, having invested in the latest technology some time ago, to allow you to complete and sign important documents and make payments electronically. This means you can access all your conveyancing needs from the comfort and safety of your own home – there’s no need to visit our offices. However, if you would like to speak to someone face-to-face we can happily arrange a video call with your dedicated conveyancing solicitor to discuss matters with you.

Why not start by getting your free instant quote now? And, if you’re happy with the price, you can instruct us there and then to begin working on your behalf. Alternatively, you can call us on 0161 7101786 or email info@gdlegal.co.uk.