Investment Property: Work in Progress

Many of the estate agencies that I know with have begun working from home so all the deals in progress at this point are either on hold or moving very slowly. Most property viewings have been suspended a few are continuing via video call.

Government guidance is that there is no need to withdraw from transactions but be flexible with the dates and avoid relocating in the lockdown period if possible.

“I’m finding it quite frustrating as we have a key worker, a surgeon currently living in an HMO, already lined up to rent a property that’s being refurbishing at the moment. As the Project Manager, I have ordered the vast majority of the materials in readiness for the contractors to start work. However, the lockdown means that it is safer for the contractors to stop work and the owners took the inevitable decision to halt the process whilst we review the potential for small teams to slowly resume work on segregated parts of the property.”