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The Impact of Coronavirus on Buying and Selling Property in the UK

April 13, 2021

The picture is becoming clearer of the impact that Coronavirus is having on house prices in the UK, however with the ongoing stamp duty holiday and continuing lockdown measures the figures continue to fluctuate.

 

The UK property market has been enjoying a mini-boom due to the stamp duty holiday, but overall the number of new property sales agreed in the UK has fallen by 70% since the start of the coronavirus restrictions and the government’s guidelines to moving home. 

 

Both buyers and sellers of properties in the UK have been hit by a range of issues due to Covid-19 related problems.

What does Covid-19 change if I want to sell a property?

Putting your property on the market will be more challenging than usual. 

 

The Government’s official advice is that there should be no visitors to your home, meaning no unnecessary visitors are allowed in your home which is not limited to but includes property agents to carry out a market appraisal or take internal photographs prior to marketing your home; energy performance certificate assessors.

 

If your property is already on the market, you can continue to advertise it for sale, but people cannot come to physically view your property.

 

The Government’s rules have relaxed slightly during the recent lockdown – estate agents are continuing to offer video house viewings and potential buyers are being allowed to view the house in person once they’re seriously considering making an offer.

 

An in-person viewing must follow social distancing measures – wash and sanitise your hands when entering homes and avoid touching surfaces. Both potential buyers and agents must wear face masks.

house viewing sanitizer

 

Selling your property – house sale surveys

Once you have agreed a sale on your property the buyer will no doubt want to arrange a survey of your property. 

 

Government advice states that surveyors should not expect to carry out non-urgent surveys in homes where people are in residence, and no inspections should take place if any person in the property is showing symptoms, self-isolating or shielding. 

 

It may be possible for surveyors to carry out some work online and carry out surveys on empty properties or properties where the occupants are out of the property, or following guidance to stay at home and away from others. 

 

Either way, the rules are making it harder for homeowners to sell their house during Covid-19.

Potential problems to consider with buying or selling property during Covid-19

Other things to consider when buying or selling a property during the pandemic:

 

  • Buyers may request a deep clean of your property prior to moving in.
  • There may be lengthy delays in obtaining signatures on documents due to the various parties involved working from home, self-isolation, illness and postal delays.
  • Delays in issuing mortgage offers by lenders due to a skeleton staff or those working from home.
  • Issues with removal companies who may not be available due to staff self-isolating.
  • Sellers being unable to move out of a property due to self Isolation.

 

Due to the amount of people involved in the process of buying and selling a property, Covid-19 has created the potential for numerous previously unknown problems to arise from an already nail biting process. 

 

This has meant that sellers have begun to look for an alternative method to selling their home than the traditional way...

Why you should consider selling to a house buyer during Covid-19

Halo House Buyers are cash house buyers, who will buy your home from you for 85% of its market value, saving you the time and stress of going through the house sale process. 

sell house for cash

House buying companies pay for your property without needing to take out a loan or mortgage. Selling your home for cash is less risky, has a faster turn around and gives you more control.

 

Halo House Buyers circumnavigate the challenges of the Coronavirus as they are in a unique position to pay cash for your property, sort all the legal work and exchange and complete simultaneously. 

 

Regardless of the state of the housing market from the effects of the pandemic, Halo House Buyers make the process of selling your house straightforward and stress-free.

 

Selling your home to Halo House Buyers means that you avoid using estate agents, having numerous viewings, and the cost of a lawyer for conveyancing. 

 

You will also avoid any lengthy delays created from Coronavirus where the people involved in buying your home may be unavailable due to self-isolation or working from home.

If you are looking for a hassle-free, quick and guaranteed sale with no hidden costs, contact Halo House Buyers today.

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