The COVID-19 pandemic has impacted upon almost every industry including real estate.
State and federal governments have introduced necessary restrictions to stop the spread of the virus. But the property market continues to operate, with the safety and health of all persons involved the paramount concern.
Below, we answer your Frequently Asked Questions (FAQ) on what the coronavirus crisis means for sellers, buyers, renters and landlords.
Can I still sell my home?
Yes. Sellers’ agents, buyers agents and the rest of the market have adapted to the new restrictions. Virtual tours of homes, private inspections and online auctions are now the norm. Sellers can still sell via private sale too, as always.
What does the ban on ‘on-site’ auctions or ‘in-room auctions’ mean?
Auctions will continue to be held online. Prospective buyers can continue to register and bid online. Only ‘in-person’ auctions have been suspended due to social distancing rules.
Can I still inspect a home I am interested in?
Yes. Realestate.com.au has launched a new virtual inspection tool which will allow buyers and sellers to remain in business. Buyers can inspect a home virtually and then if they wish to visit a property in person, they can arrange a private visit through the selling agent.
Will showing my house increase my family’s chances of contracting coronavirus?
The government says as long as all recommended measures, such as social distancing and hygiene, are observed it is safe to proceed with private open home inspections.
What if I can’t make my mortgage repayments?
Most banks are allowing customers to pause their loan repayments for up to six months if they are experiencing financial hardship. Contact your broker to discuss this. You may be eligible for the government’s stimulus package. For free financial advice, contact the National Debt Helpline.
What if I can’t pay my rent?
If you think you might not be able to pay your rent due to financial hardship, you should advise your landlord or rental agency as soon as possible. You can request a delayed payment or a rent reduction. Your state tenants’ union can help to advise you of your rights. You may be eligible for the government’s stimulus package. For free financial advice, contact the National Debt Helpline.
Can my landlord terminate my tenancy during the COVID-19 crisis?
Under law there are no grounds for a tenancy to be ended due to an outbreak. Your landlord or rental agency can only rely on existing reasons for termination, if they apply. For advice on your individual situation visit the fair trading or consumer affairs website in your state or territory.
Whether you’re buying or selling, please contact James with all your Houston, Clear Lake, Memorial, Spring Branch, Energy Corridor, Tanglewood, Galveston, within the Loop and Katy Real Estate needs. We’re here to help! You will always receive the professionalism and experience you deserve! Call us at 409-256-1274. Check out our listings and other information on our website: http://www.TheSeligGroup.com/.
Oh, by the way… If you know of someone who would appreciate the level of service I provide. Please call me with their name and business number. I’ll e happy to follow up and take great care of them.