Buying or Selling a house during lockdown?
Are you looking to Buy or Sell a house during lockdown?
Here’s what you need to know…
They say moving house is the most stressful thing you can do in your life, and Coronavirus has brought additional stress to those in the process of buying or selling their home.
Here is a summary of key facts you should know following the government’s guidance:
1. Firstly the government confirms there is no need to pull out from the transaction
2. If your transaction has exchanged and the property is occupied, the government’s advice is to delay completion and to agree alternative moving dates. If you are buying with the aid of a mortgage, the government has asked mortgage lenders to extend mortgage offers up to 3 months. You can speak to your mortgage lender or mortgage broker to request this
3. If you are unable to agree to a new move date and the move becomes unavoidable then you must follow the social distancing guidelines. If someone has symptoms, self-isolating or is shielding then the move will not be possible and a new move date must be arranged
4. If the property you are buying is not occupied you can carry on with the transaction as normal
5. If you are selling your property you can still market your property but you will not be able to allow visitors into your home.
For further Government Guidance click here.
At Dodds Solicitors we understand this is a particularly stressful and anxious time for all and we are here to assist you with any queries you may have in these unprecedented times.