Latimer Hinks Solicitors in Darlington is preparing to play its part in getting the housing market moving again once the lockdown is lifted, following news that estate agents can now reopen.
Martin Williamson, a director and head of residential property at Latimer Hinks Solicitors, and his team have been working remotely throughout the lockdown to ensure that, when restrictions are lifted, clients will be able to complete property purchases and sales as quickly as possible.
Since restrictions were put in place on 23 March, many sales have had to be suspended, due to government guidance. Law firms like Latimer Hinks have been able to continue progressing sales and purchases but only up to the point where an exchange of contracts would normally take place, in order to ensure that no breach of contract occurs should the lockdown continue to be extended.
By preparing in this way, Latimer Hinks is aiming to help the housing market get back into a positive position by making sure sales can exchange and complete as soon as this is possible.
Martin Williamson said: “We are as ready as we possibly can be to complete sales as soon as government guidance allows it. The team hasn’t stopped working remotely throughout lockdown getting all the background work in place. We are in a great position to help the housing market get moving.
“It’s been a difficult few months but there is definitely light at the end of the tunnel. It appears that restrictions will be lifted in stages, meaning more opportunity to prepare and get well organised with any documentation that needs to be in hand before a completion date is agreed.
“Of course there will be a backlog when the rules are relaxed, as there are many tasks we can’t complete immediately, but with all the excellent work that has been done in difficult circumstances during the lockdown, it certainly won’t take long to get things moving.”
Martin added: “The recent announcements of the government’s road map have been encouraging, and if we see some steps towards normality within the next few months, I don’t think it will be as bad for the economy as the worst case scenario.
“We have no way of knowing how the market will be affected long-term, however we can be prepared and do what we can to help limit the damage.”