Can you sell your house during Coronavirus times?

Coronavirus is putting a strain on the country the government our resources and the NHS. This can give you fewer options when selling your house. For example the traditional route using an estate agent is more difficult now due to the UK is on lockdown and only essential Industries are allowed to operate outside of their homes during this period. Also this would be violating the social distancing where two people should not be within close proximity of each other to reduce the spread of coronavirus. Therefore this makes it incredible for estate agents to sell properties as they can’t go out on in-person viewings and meet homeowners. Obviously this is the most used technique when people are looking to sell their home. So you can understand why people are freaking out and going a little bit crazy during these unprecedented times.

What does Coronavirus mean for house sellers?

Due to this period of time where people have been unemployed and have a lack of income due to the UK being on lockdown which has been enforced by the government. This obviously prevents first time buyers and people who just about had enough to make a deposit on a house and now having to watch the money due to these economically tough times. Obviously since the Outbreak the government has offered the UK 80% of their salary up to £25,000 which is enabled some people to turn off the main character in these unprecedented times.

In times like these we are one of the only buyers in the market that can buy quickly and with cash. Most of the time we would normally give a cash offer over the phone or the internet. So it doesn’t make a lot of difference to us. Also given the position of going down the estate agent route it’s pretty much near impossible in this current climate. With a lack of buyers so estate agents that are able to operate and function as a business. Even online estate agents will be struggling at this time due to people not being able to go and see the property before they buy it.

Obviously having an individual or your house right now they will want to come in and see if property before they buy it. Whereas we can give you an offer without even stepping foot in the property and provide a service that is incredibly important in this tough time. Not to mention mortgage lenders in this tough time being under a lot of pressure through the government offering a mortgage holiday period. Where they are relieving homeowners from having to pay their mortgage for 3-months. This isn’t the case of them paying the mortgage for the homeowners it is basically just a rearrangement of mortgage payments and then having to pay them a few months time. As economist thought that Brexit was going to massively influence house prices and therefore influence whether people put their houses on the market or not. Obviously this also affects how much of full market price they actually achieve due to the house price index false representations during economically tough times. The current timing of the UK due to coronavirus is far more severe than Brexit ever could be. Given that the whole country has had to be put on hold so from an economic point were about to say a massive crash due to search inactivity in our market. Therefore this may put more Sellers out there on the market I’m giving it uncertain times there will be fewer buyers. This means overall people will be achieving lower house priced sales due to the factors. Which makes it the perfect time if you find yourself thinking “I must sell my house fast before the market actually crashes”. If you look back in 2008 it took many years for that economy to recover. Reach out to Fast Buyers today!