Listing your home in today’s market is already tricky enough, let alone selling during lockdown – so what do homeowners need to know about the current rules?
Your house is often your biggest financial asset, and making the decision to sell is never easy, particularly if it’s your first property or if the home in question holds sentimental value. However, with the real estate market currently running red hot right around the country, there’s arguably never been a better time for selling a property for homeowners who are in the position to.
While the process to do so is never as simple as picking a real estate agent, and kicking back until you receive offers, ongoing lockdowns around Australia have made selling property slightly trickier than usual. If you can’t leave your house – and prospective buyers can’t leave theirs – how exactly does selling during lockdown work?
The Rules For Selling During Lockdown In Victoria
With Victorians currently battling their way through their sixth lockdown, the rules of selling during lockdown have once again changed thanks to the state reaching the milestone of having 70% of its residents receiving at least one dose of a COVID-19 vaccine. Perhaps recognising the importance of the real estate industry and the potential exposure that renters face to scams, Premier Dan Andrews recently announced that private inspections of unoccupied premises for a new purchase or end of lease are finally permitted again, but only one household may attend at a time, with the agent staying outdoors during the inspection.
With the all important 70% double dose date rapidly approaching at the end of October, selling during lockdown still has its own set of ever changing rules that both buyers, sellers and other third parties such as tradespersons and real estate agents need to follow. While in person inspections and appraisals are back, owners can also attend a final inspection, including end of lease and settlement activities, of real estate for the purposes of a prospective sale or rental of the property that cannot be deferred.
For vendors planning on selling during lockdown, it can be tricky to tackle home repairs and ironing out maintenance issues before you list your property. For now, hardware stores like Bunnings are also closed to the public unless you’re an authorised worker, which means that most DIY projects and repairs can face delays while renovators wait for ‘click and collect’ turnaround times. Trades are also back in action, but have strict limits when it comes to density caps and how many people can work on a site at any given time.
Both homeowners and renters are permitted to move house, but are not permitted to have any friends or family outside of their immediate household help with the heavy lifting unless support is required due to age, health issues or disability. A removalist can be used to support vacating a property under current restrictions, but if you require a cleaner, this is only permitted when needed as a result of a tenancy agreement, impairment or a disability. According to the Victorian Government Coronavirus website, friends, family, or partners can only assist someone in another household to move house where care and support is required due to age, health issues or disability.
While homeowners should still follow many of the standard procedures such as market research, organising appraisals, selecting a real estate agent, undertaking repairs, property styling and presenting the home accordingly, many of these practices are advised to be done virtually whenever possible. However, it’s not all doom and gloom, especially considering the record number of buyers who are making property purchases under ‘sight unseen’ contracts of sale.
Should you be looking to sell your home, enlisting the services of a free property advisor like ESPA can often be a game changer for vendors. As an example, your advisor would likely research the property, local agents, check the zoning, evaluate market conditions, and communicate clearly with the owner regarding all of their options, and can be particularly useful when it comes to choosing a real estate that’s right for you. When working with a reputable advisor, this often results in homeowners being able to sell their property for significantly more than they initially thought possible.
Ultimately, the COVID-19 climate is unpredictable at best, and things can change at a moment’s notice. Be prepared mentally and emotionally to roll with these updates as they come, and remember that your property advisor is there to help and will advise on the best strategy to achieve your desired result and help you to navigate the rules for selling during lockdown accordingly.
Take The Stress Out Of Selling Property
A completely free service, Emergency Services Property Advisors provide property advisor services to Police, Fire, Ambulance and S.E.S personnel and their families right across Victoria.
Luke and the team at ESPA are passionate about providing support to some of Australia’s most valued public servants. Along with key industry insights, ESPA also works with a broad range of service providers linked to the real estate industry such as conveyancers, trades, legal practitioners and mortgage brokers.
If you are an emergency services worker looking to potentially buy or sell property in the future, please get in touch with Emergency Services Property Advisors today to discuss how we can turn your real estate dreams into reality, or call Luke directly on 0414 757 705.
