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Real Estate in Level 4

20/08/2021

With the news just out that we will be in Level 4 lockdown at least until 11:59pm Tuesday 24th August, we thought we would do a quick post to remind you what that means in regard to Real Estate.

The health and wellbeing of our team and our customers is of paramount importance to our company.  Under Level 4, as a non-essential business, our physical premises have closed and our team members are now working from home to look after not only their current activities but also ensure that we maintain the highest level of service to our customers and clients.

We will remain active and on-call, available by phone and email.  Whilst some patience will be required by all of us as we adjust to a slightly new way of working, we will still be able to work with you on your sale, settlements and manage purchaser enquiry as it comes in.  Whilst we don't have a crystal ball, rest assured our management team are monitoring things daily and our team is meeting digitally to discuss what is happening in our market.  We are also in regular contact with the Real Estate Institute of New Zealand and any new developments are being communicated daily.  We look forward to continuing to provide our customers with great service and excellent outcomes in the days ahead.

Some answers to questions you might have right now:

Can I receive an appraisal?

Yes! Online appraisals can be completed and emailed to potential sellers. You will note that these virtual appraisals will clearly state that they were conducted online and without the ability to physically inspect the property due to COVID-19 Level restrictions - we will endeavor to update these after a physical inspection of the property as soon as the isolation restrictions are lifted.

Can I list my property now?

Yes! We have the technology in place to be able to list your property during this Alert Level Period. All agency agreements, AML and marketing can be signed digitally and we can talk you through the process and advise the best way moving forward.

How will you market my home?

At this stage there are no buyer appointments but these can commence again at the lower Alert Levels.  We have great online platforms to capture the audience while we have such a strong online audience.

Can I make an offer on a property?

Yes - sale and purchase agreements will continue to be available during this time and your agent will be able to accommodate a digital signature in the event you do not have a scanner or printer at home.

Most of the lawyers are still available by email for legal advice.

How do I arrange finance?

Vendors and purchasers should talk to their bank or financial services provider in the first instance, most are mobilised and able to transact business.

How do I complete the Anti-Money Laundering paperwork?

All Anti-Money Laundering (AML) paperwork can be completed online.

What about satisfying conditions on a contract?

Conditional contracts can still be confirmed during this time; however should a condition not be able to be met due to the restrictions under the Alert Level 4 period (examples would be the inability to conduct a property inspection and building inspections), then the buyer and seller would need to advise their legal representatives and either extend the condition until after the lockdown, or cancel the contract. The party's lawyers will make appropriate amendments to the contract to facilitate this.

Can I get a LIM?

Looking at the information provided it is unclear whether the Nelson City Council and Tasman District Councils will be processing LIM applications at this time. .

If purchasing, we would still suggest filing a request for a LIM so when these are able to be processed you will already be in the queue.

What about pre-settlement inspections?

These are unable to take place in person during lockdown, however, if both parties agree, these could take place using video conferencing.

What about moving dates?

With "moving house" not defined as necessary travel during Stage 4 lockdowns, we suggest deferring settlement dates with your solicitor. 

As always just give us a call with any specific questions or concerns. We are on board and here to help.

This information is from the Real Estate Institute of New Zealand (REINZ) and factual at the time of publication of this blog.

© 2021 Susa Guhl Partners. MyPlace Realty Ltd Licensed REAA (2008). All Rights Reserved.