During these unprecedented times, where the situation is changing on a daily basis, we are aware that individuals and business owners will have many questions and uncertainties about how these developments impact on them.
Here, through a series of Q&A with expert lawyers from across our firm, Sintons hopes to be able to answer some of those pressing questions, and provide some certainty and clarity for people who are unsure how to proceed.
We will bring you a question and answer per day for the next few weeks.
Q – I am a landlord and am looking to sell some of my properties. Can I still proceed with this?
A – If you are selling investment properties which are vacant, you may still be able to proceed to completion. Similarly, if your properties are subject to existing tenancies and the tenants do not need to move, completion could still take place.
One local agent who we regularly deal with says he has started to offer 360-degree virtual tours online, to showcase vacant properties, so potential buyers are still able to view the property. Where a property is being sold with a tenant in situ, he explained that some landlords are offering their tenants a financial incentive to tidy the house and upload a video so that buyers can also view tenanted properties online.
It should be noted, however, that new mortgage applications are likely to be delayed, and the local authority search will not be conducted until lockdown conditions have been relaxed. If your buyer is dependent on mortgage and / or searches, you may not be able to set a completion date at this stage.
* For advice on this or any other residential property matter, please contact Anna Barton, head of residential conveyancing at Sintons, on anna.barton@sintons.co.uk or 0191 226 3743.
