As we’re all figuring out the new normal for the next 6 months or so… we thought we’d share with you what we’re seeing and our thoughts on the property/conveyancing side of the fence and how our existing digital processes have proven really effective in today’s climate.
Cue the seeded questions…
BUYING A PROPERTY
Should I wait any longer, to see if property prices drop?
Only you can answer that. Sorry.
No-one really knows how each specific property will be affected. What we can say is that if a property ticks all the boxes for you – will the potential saving of a few extra dollars be worth the risk of missing out completely?
I really want to inspect this property, so I can make an offer…
We’re finding agents are providing more virtual tours, initially. Serious buyers are then progressing to a private viewing. Auctions are now being conducted online or by phone.
I’ve had an offer accepted. Is my purchase now on hold?
Not at all… but we do need to be mindful of a few things!
There are a lot of moving parts to the process. Bank’s are needing a little longer to provide formal finance approval. Legal representatives may be working remotely. Tenants/owners may be forced to self-isolate and this could delay being allowed to inspect a property in person.
Most conveyancers should have already experienced (or know about these issues) and our systems and process are being adjusted to accommodate.
By being well organised with funding and paperwork, you should still meet any settlement.
I have to sign paperwork with you…
Yes you do - but we’ve been working electronically for some time now.
We’re able to get contracts signed AND your ID verified all via online tools. We love meeting our clients face to face, but we’re not prepared to risk your health at this time.
SELLING A PROPERTY
Is it the right time to put my property on the market?
It’s like waiting to buy at a lower price. There are price fluctuations everywhere and you’ll need to understand your levels of comfort regarding sale price. That’s where a good real estate agent can help you gain a better understanding of your options.
We can prepare a contract and have it sitting, ready for you to authorise it to be sent to your preferred agent. Just be mindful that some of the Government searches that are required in the contract may need to be reviewed and updated if your property sits on the market too long.
If you have any questions about your situation, contact me via leah@stevensconveyancing.com.au or call 0414 894 031 to discuss.
Please note that the information contained in this article is of a general nature only and does not constitute legal advice. Stevens Conveyancing does not take responsibility for any errors or omissions obtained from the use of this information.