Whilst the world and economy may be in lockdown, with restrictions on movement and most businesses transactions, this does not mean the opportunity to purchase and sell in the property market has come to a grinding halt. In fact, at Grosch Properties, we pride ourselves on being innovative and tech-savvy to meet the need of our clientele. Let us assist you in a successful sale of your property. An eager buyer and seller together with our knowledgeable property agents can guide you through starting this process during the lockdown period. With our help, we can show you how to sell your property during COVID-19.
Social distancing has eliminated a face to face consultation but our agents are available to conduct this essential property consultation as an online service. To ensure you are well-advised on both the buying and selling of your property. Property is an investment, whether simply to purchase your first home or extend your living space to accommodate a growing family.
How can I market my property during COVID-19?
For those who are preparing to sell their property during this period, they will do well to make use of our online application forms specifically for sellers. As an added benefit to encourage the sale of your property Grosch Properties actively promotes listing properties online both on social media and our website. Online traffic increases virtual viewing from prospective buyers who are in the market to purchase.
Showhouses are on hold but with internet connectivity, whether on your cellphone, tablet or computer it is a new way of sellers showcasing their property, prospective buyers inspecting the home both inside and out and property agents being able to advise online. Virtual house tours are the new normal in the real estate industry and at Grosch Properties, we can provide our clients with this digital option. Sellers can provide either a 360-degree photo experience of their homes or even upload a video which is submitted to their real estate agent for a virtual tour display on either our website or social media. The virtual viewing experience has been implemented by property agencies internationally and has been used in sales prospecting for years now. It effectively means that a property viewing can take place at any time and any place through this medium.
For prospective sellers or landlords, simply fill out our online form HERE and we will be in contact with you to help get your home on the market.
Is it worth buying/selling during this time?
All news is not bad news, recently the South African Reserve Bank cut the repo rate by 4.25% per annum as of 15 April 2020, which has resulted in South Africa’s prime commercial lending rate drop from 8.75% to 7.75%, a decline in the interest rate makes it easier to obtain a home loan and affordable monthly repayments. This alone indicates despite the lockdown it is a buyer’s market. And whilst the sale and transfer process could take up to 6 months to finalise, now is the ideal time to put in your offer to purchase whilst the price is right and home loan repayment rates are low.
We can assist with your pre-qualification and bond application process. Contact us today to help you set up the bond originator process with our home financing partner, BetterBond, as most of these services are still active at this time, and let our property agents guide you remotely as a value-added service.
So what’s my next move?
Future home-owners should note that the threshold on transfer duty was increased to R1 million which means that transfer duty costs are lower for buyers. A purchase during lockdown is advisable when the purchase price is both right and affordable for the buyer, factor in bond repayments and possible fluctuation in income and overall affordability. Consider putting down a deposit, you may even get a better interest rate on your bond.
Contact Grosch Properties to enquire about how we can assist you in getting your home on the market to a wider range of potential buyers, or if you’re already in the market to buy a house, but just need more help in getting started.