Buying and selling is one of the most stressful experiences you can go through. Here are six things that we have recently been asked about that you need to know:
The process is likely to slow down:
The Government has set out that home moves into occupied properties should only take place where contracts have already exchanged and it proved impossible for both parties to agree another date.
Exchange will still happen:
For those people who haven’t yet exchanged contracts, you are still able to continue with your transaction and should use this time to work with your conveyancer to progress the transaction. For those who have exchanged contracts, you have two options to move or 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.
Where deferral cannot take place, then completions will go ahead for critical moves.
Moves will happen but without Removal Companies:
For critical moves, it is unlikely that any removal companies will operate due to the new government guidelines, so people must safely move themselves and ensure social distancing advice is adhered to.
Stay safe during your move:
If your move is critical and you move during restrictions, it is important to stay safe and only do so when the property is empty. The advice from the Government insists that we must not endanger ourselves 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 advice on decontamination is followed.
Prepare for the future:
It can feel daunting to pursue a move at the current time, but even if you are not ready to move right now, conveyancing experts can be working in the background to get everything ready for a future physical move, so it is always a good time to start planning and paving the way for the future, whilst you have time on your hands.
It is possible to carry on the conveyancing process – most solicitors are still working, banks too and in most cases everything can be handled through remote working, either on the phone, or through video calls to keep the ball rolling.
If we can help with advice on your home move or property purchase or sale, please do call us on 01244 313 900 or 07974 145566 or alternatively email me on firstname.lastname@example.org.