October 21, 2020
Coronavirus - Buyer FAQ
At Jellis Craig, our priority is supporting our clients and the community throughout this challenging time.
In order to help you understand the current state of play and make informed property related decisions, we have put together a series of frequently asked questions for your reference.
Note: If you are in regional Victoria you are under different restrictions, please contact your local Jellis Craig office to discuss what restrictions apply to your area or visit this article to read more.
What does stage 4 restrictions mean for real estate?
While our office premises are closed, we are able to conduct private inspections and outdoor auctions complying with strict government restrictions.
You can read more about private inspection guidelines here: www.jelliscraig.com.au/blog/coronavirus-update
You can read more about auction guidelines here: https://www.jelliscraig.com.au/blog/auctions-are-back
We urge you to reach out to us if you wish to know more about any of our current listings, to arrange a private inspection of one of our properties or to register to bid at one of our auctions.
What if I have seen a property that I want to purchase?
If you are interested in purchasing one of our properties, please contact the agent to book a Private Inspection. We have many buyers who are keen to view our current listings, so we urge you to move quickly to book an appointment.
Can I still inspect a property?
Yes, you can now inspect properties privately with the following regulations in place:
- Only one attendee is permitted at each Private Inspection (attendees may be accompanied by 1 other person from an existing household, an intimate partner or children under 18 years old)
- Attendees must wear an appropriate face covering (face mask) for the entire duration of the inspection
- Buyers and Tenants can travel outside their 5km radius to attend a Private Inspection (excluding properties located in regional Victoria)
- Buyers and Tenants can leave their home for a maximum of two hours to attend a pre-arranged private inspection of a property
- Standard social distancing and hygiene requirements remain
- All inspection attendees will be recorded for contact tracing purposes
- Written confirmation of the appointment will be sent from the agent to the attendee prior to the inspection
You can read more here: www.jelliscraig.com.au/blog/coronavirus-update
We urge you to reach out to us if you wish to know more about any of our current listings or to arrange a private inspection of one of our properties.
How can I purchase a property in stage 4?
You can buy property in a range of different methods including Auction, Private Sale, and Expressions of Interest. All sale contracts can be completed digitally in a contactless manner.
How is the paperwork managed during Stage 4?
We already use digital contracts to facilitate sales in a seamless manner and will continue to do so throughout this time. You will not need to come into direct contact with anyone for this process to occur smoothly.
If I buy a property can I still settle and move during stage 4?
Yes, the Victorian Government has confirmed that settlements can continue, and you will be able to move house during this time. Solicitors and conveyancers can continue to work remotely and should be able to assist with your settlement.
We will facilitate the process and handover your keys in a contactless manner.
What are the current Auction guidelines?
- Up to 10 registered people (registered bidders) may attend
- Attendance is by pre-registration only
- Attendees must wear a face mask for the entire duration of the auction
- Family or friends may not congregate in the street or at the front of the property
- Standard social distancing and hygiene requirements remain
- Contact details for anyone attending will be recorded for contact tracing purposes
You can read more here: https://www.jelliscraig.com.au/blog/auctions-are-back
What is an Expression of Interest Campaign?
An Expression of Interest campaign (EOI) is a sales method in which you can purchase a property. It requires any interested buyers to ‘express their interest’ in the property by putting forward an offer to purchase the property directly to the Agent.
- EOI campaigns may advertise a closing date and time, while others may be open-ended without a closing date. It is important to advise the Agent if you are interested in a property so that you can make an offer in the required time frame.
- To ensure your offer is presented to the vendor(s), you must register your interest initially via phone and following by submitting an offer in writing prior to the closing date and time.
- All offers will be communicated to the vendor(s) and the Agent will advise you of the process to conclude the sale.
- It is our approach to ensure that negotiations are transparent, and you will be given every opportunity to participate and make subsequent offers.
- Confirmation of your offer will be put in writing by the Agent and followed up with appropriate contractual paperwork.
What are you doing to mitigate the risk of exposure to Coronavirus during inspections?
We are exercising the utmost care when it comes to hygiene, social distancing practices and Government regulations when hosting inspections.
Are there other ways to view a property other than physically attending a private inspection?
If you would like to know more about a property without having to physically attend a private inspection, you will find more content online to further showcase property features including, additional photography, property videos and 3D Virtual tours.
How do the current circumstances affect buying property?
At Jellis Craig we have implemented a number of measures to ensure buyers and sellers can still transact throughout this period.
You can buy and sell via a range of different methods including Auction, Private Sale and Expression of Interest. All sales contracts can be completed digitally meaning you can purchase the property without needing to come into close contact with others.
Are properties still selling?
Yes, properties are still selling. In fact, during this period we have seen the average campaign duration reduce from the traditional length of 4 weeks down to even as low as two- three weeks.
We anticipate property sales to increase further now that we are able to hold private inspections and outdoor auctions.
What is the level of buyer demand?
Buyer demand is in fact very high at this point in time, we have many buyers who are keen to book in Private Inspections as soon as possible. We anticipate this level of demand will stay strong throughout the remained of the year and beyond. If you are interested in a property we recommend that you move quickly to book in a private inspection.
At Jellis Craig we are here to support you and provide guidance through these times. If we can assist you with any of your property needs, please do not hesitate to get in touch.