Coronavirus update – resales and staircasing

homebuyers

Buying or selling a property during the coronavirus period

The government has issued advice to those looking to buy or sell a property during the coronavirus period while social distancing measures are in place.

We’re therefore advising that if you’ve instructed a solicitor, please contact them to discuss how this may affect your resale or staircasing transaction.

The information below outlines the steps we’re taking and how we can help.

New sellers and prospective buyers

  • If you’re selling your home, we’ll continue to accept applications and supporting documents
  • As valuers aren’t currently visiting properties to carry out valuations, we’ll only be able to market your property with a ‘price to be confirmed’. This is to generate interest in your property until the time a valuation can be carried out
  • Please note that our ‘nomination period’ for marketing purposes will not start until we have a valuation
  • We’ll keep a record of parties who’ve expressed an interest in your property for when viewings can take place again
  • If you’re happy to conduct ‘virtual’ viewings through your mobile device, and any potential buyer is happy to view the property like this, this can be arranged.

Sales and purchases on the market with Catalyst

  • We’re not recommending that sellers or buyers enter into any viewings of properties at this time
  • If you’re selling your property with us and you’re happy to conduct ‘virtual’ viewings through your mobile device, and any potential buyer is happy to view the property like this, this can be arranged
  • Please be aware that a potential purchaser may have difficulty getting a mortgage at the current time which may affect the ability to sell your home.

Sales and purchases on the market with an estate agent

  • If your property is on the open market with an estate agent, please to speak to them directly about their current viewings policy.

Staircasing and other ongoing transactions

  • We’ll be continuing with all staircasing and other transactions. Please be aware, however, that there may be significant delays in completing these, especially if valuations haven’t yet been carried out.

Mortgage products and services

  • We’re aware that lenders are still offering mortgages. Please visit lenders’ websites for up-to-date information on the products or services they’re currently offering

If you’re concerned about an ongoing transaction, please contact the team dealing with this for you and they’ll be able to help.