Moving house is stressful at the best of times so we thought it might be helpful to address some of the questions being asked during these difficult days. At Penfolds communication comes first and we are always available for the questions you may have.

Q         Should I keep my house on the market?  Is there even a market at the moment?

A          There are a huge number of people who are very interested in what the property market is doing at the moment and with so many people at home the activity levels at Rightmove demonstrate this.  Although we’ve never experienced such unchartered territory one things remains a constant, our need for a home and our need to find one.  We’re not able to conduct face to face viewings at the moment but we continue to receive enquiries about the houses we have on the market and we will show these waiting buyers the houses as soon as we are able to do so.

Q         Should I put my property on the market at the moment?

A          If the photographs have been taken, you’ve approved your brochure and your agent has all he needs to be compliant there’s no reason at all to delay.  Virtual viewings can be arranged to give a better feel for the property and of course most agents are working from home to answer all your questions. If you haven’t chosen your agent yet you will need to wait until we are out of lockdown.  In either case the time can be very well spent by gathering all the paperwork your solicitor will ask you for when your sale is agreed.  For instance any planning permissions and building regulations, guarantees and warranties, boiler service history, fensa certificates etc!

Q         What can I be doing to make my property look its best before marketing and how do I choose my agent?

Q         Can I still accept an offer on my property?

A          Definitely, providing your agent has checked out your buyers ability to proceed and as long as all parties are realistic about time frames at the moment.

Q         We are due to exchange, what are the likely problems?

A          Communication is always vital during the sale and purchase legal process but never more so than now.  Most lawyers and agents are working from home and if the property you are buying is empty there’s no reason not to exchange.  One way to overcome a delay in being able to complete your transaction is to exchange contracts but set a ‘long stop’ completion date.  This enables you to secure your sale and purchase by the exchange but allow a little more flexibility with the actual move date which could be brought forward as soon as the lockdown is lifted by mutual agreement.

Q         Will the current situation affect my mortgage offer?

A          Typically mortgage offers are valid for six months but in light of the current situation the Government has requested that lenders extend these offers by another three months. If you are experiencing any financial difficulty with your current mortgage the majority of the high street lenders have offered mortgage payment holidays online without any need to speak directly. Additionally, these payment holidays will not adversely affect your credit profile.  Mortgage brokers and lenders are there to help you through this.