Latest Advice – Delaying the Move
Delay, no need to pull out. Government has issued advice through the media, speaking directly to buyers and sellers today. Their advice is:
- There is no need to pull out of transactions.
- Where the property being moved into is vacant, then you can continue with this transaction although you should follow the guidance in this document on home removals.
- Where the property is currently occupied, we encourage all parties to do all they can to amicably agree alternative dates to move, for a time when it is likely that stay-at-home measures will no longer be in place.
In the new emergency enforcement powers that the police have been given to respond to Coronavirus, there is an exemption for critical home moves, in the event that a new date is unable to be agreed.
Recognising parties will need to alter common practice, Government has sought to ease this process:
- Issuing this guidance, developed with Public Health England, to home buyers and those involved in the selling and moving process;
- Agreeing with banks that mortgage offers should be extended where delay to completions takes place in order to prioritise safety; and,
Working with Conveyancers to develop a standard legal process for moving completion dates.
Further information can be found by following this link;