Purchasing In A Pandemic
Just before we flew off to the other side of the world for a road trip around Tasmania, we were negotiating a deal over the phone from Manchester airport! As if that didn’t make it difficult enough, the Covid-19 lockdown happened whilst we were away. After several flights were cancelled we found ourselves temporarily trapped down under. Determined not to lose the deal we continued our negotiations with agents, solicitors, sources and investors to keep the deal alive, which often meant late night calls due to the time difference. To cut a long story short, we succeeded in closing the deal and added one more family buy to let to our portfolio.
It’s always so easy to find reasons or obstacles why we can’t progress in property, or in any area of our lives, I know, I’ve done it so many times in the past, we all have but there comes a time when we make a choice. A choice to accept the obstacles as either preventing our progress and then settle for what we’ve got in life or a choice to not let anything stand in our way and believe you can overcome most challenges, even a global pandemic!
We did eventually make it back safely and our property purchasing just ramped up. Whilst everyone is being cautious, finding it difficult to view, value or survey properties during the lockdown, those of us with entrepreneurial bones in our bodies and a nose for opportunity are seeking the deals. There are many ways to assess a deal remotely
Use google street maps to see the area
Use Zoom or Skype or Facetime for video meetings
Ask vendor, tenant or agents to record a video viewing of the property
Check the market valuations online using sold comparisons over the last 12months on Rghtmove or Zoopla
Take out indemnity insurance to be able to bypass the local searches if unable to obtain them
Keep talking to agents and vendors… the phone lines still work!
So keep safe but keep engaged and you will find yourself in a much stronger position when we come out of the lockdown facing an economic recession,. You will have momentum that others have lost, a head start to give you the edge. Good luck in your property endeavours, we are here to help you if you need us.
Tasmania road trip
If we can buy UK property whilst this far away, in the midst of a global pandemic…then anything is possible