Can I still make an offer on a property during lockdown?
Despite the current lockdown measures being extended by at least another three weeks, Watermans Legal has had a number of clients putting forward offers for properties in Edinburgh and beyond.
At the time of writing, there are over 2,000 properties for sale on the ESPC alone. There are other property marketing portals such as RightMove who also have a large number of stock.
Many of our clients are seeing this period as a good time to buy due to the lack of competition and uncertainty. Here’s our guide on making property offers during lockdown.
The difficulty in placing an offer on a property at this time is that you cannot physically go into the property and get a feel for the place or the area. To overcome this, we are submitting offers which are subject to allowing the purchaser to view the property once the lockdown measures are relaxed. Alternatively, we can submit the offer subject to the selling agents providing a video walkthrough of the property to the satisfaction of the buyer.
Many of the mortgage lenders have withdrawn many of their mortgage products for a number of reasons. Before submitting an offer, you should contact a mortgage broker who will be able to advise you on how much you can borrow and can go ahead and submit a mortgage application on your behalf. We can put you in touch with a trusted mortgage broker who will be able to discuss the process with you in more detail.
If you do see a property that you are keen on please do not hesitate to contact our office to discuss. We can look at the Home Report for you, note your interest, advise on what level of offer to put forward and then submit any offer on your behalf. All of our staff at Watermans Legal are continuing to work remotely throughout these difficult times so please do not hesitate to contact us on 0131 467 5566 or firstname.lastname@example.org .
Posted by Lisa Boyle