Buying a property during COVID-19
Posted by: Jozefina Ndoci | Date: 25 May 2020
As everyone knows, the COVID-19 Pandemic is having an unprecedented impact worldwide. Even though the restrictions are currently easing in Queensland, unfortunately the pandemic may still have a significant effect on your conveyance and for that reason we are here to help you out more than ever!
How can we help you during the COVID-19 pandemic with your purchase?
To ensure that we can assist our clients with the same level of service during COVID-19 as we do at other times, we have:
- kept both our Brisbane and Sunshine Coast offices open with normal operating hours so that we are able to be contacted with ease at any time;
- have been available for the witnessing of any legal documents which we would have otherwise not been involved with which has greatly assisted buyers and sellers in meeting timeframes for conditions and settlement under the contract; this has helped given the limited availability of Justices of the Peace and Commissioners for Declarations.;
- taken extra precautions to ensure that any client meetings are spaced out in our large boardrooms with no physical contact;
- implemented client meetings via skype, zoom and Microsoft teams;
- set up our IT systems to ensure you are able to contact us and work with us wherever you may be;
- used PEXA (more information on PEXA can be found here) to ensure that there has been no face to face contact, unless absolutely necessary with clients or other parties; ‘PEXA’ stands for Property Exchange Australia and is the only Electronic Lodgement Network;it is a faster and smoother way for matters to settle as opposed to physically attending settlement and exchanging physical documents.
- been using online verification of identity by sending links to your phones and emails so that you do not have to physically attend our office or a Post Office.
Is there anything extra needed to be done by you?
You don’t have to physically do anything extra, however there are more factors for you to take into consideration prior to signing a contract during these times. Some of these factors are:
- longer timeframes for finance, building and pest and any other condition under the contract as they could be impacted by further closures or unavailability of parties (including financiers);
- special conditions specifically regarding any change of circumstances which may come around under COVID-19; and
- some conveyancing steps and processes may take longer due to the relevant authorities not all being available as they usually would be. This includes things like undertaking searches, obtaining independent reports or approvals and signing of documents.
It is important that you speak with us first so that we can provide you with the relevant advice and guidance prior to signing a contract to try and work around these factors during the pandemic.
Who should you speak with to assist with your purchase?
If you are getting cold feet or sweating over entering into a contract, contact us. We will be able to walk you through the process and make sure that you’ve got all the conditions and timeframes you need to protect you by ensuring that you make all enquiries in relation to your purchase.
Our team have acted for thousands of clients wanting to buy houses, units, and land. Contact our team today to discuss your options when buying a property during the current Coronavirus pandemic.
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