Selling during lockdown

We're selling a house + GF in Queanbeyan.

But this is more about the process during changing Covid conditions.

We've had to negotiate lockdowns in two areas, Queanbeyan and the ACT. The initial sale date was delayed for two weeks until regulations allowed for ACT people to visit - which they can now do for appointments only. So our first inspection was held yesterday, with 15 10 minute appointments over 2½ hours. Three definite offers came from that, towards the upper end of estimates.

There will be another inspection on Tuesday. Although NSW will have relaxed restrictions a little, it will be held under similar conditions.

By next Saturday, ACT restrictions will allow a full open house - without bookings.

The agent has been working with two governments to ensure that regulations are obeyed.

I've been working with this agent for three years on this house, as he has suggested renovations and landscaping along the way. We have bought and sold several other properties through him, so we're very happy with his suggestions - and his firm has handled my property management.

 

Yeah, Queanbeyan must be really tricky given the proximity to the ACT - you do have to effectively adhere to both ACT and NSW restrictions.

So next Saturday with ACT restrictions allowing full open house - won't actually help you will it? What are the restrictions for NSW on open houses now? I couldn't find any info after a quick search.

 

I'm not sure of the restrictions - this is a time when a real estate agent earns his money. I believe ACT restrictions are going to be lifted on Friday.

It's a pity that I won't be around to see the dynamic. Last weekend must have been quick through, and make a decision quickly - 10 minutes each person (I don't even know if it was a group), with offers being made on the basis of that quick inspection.

Next weekend, I suspect the only limitation will be the number of people in the house. People will probably have to check in. But they will have time to open doors and drawers, turn on taps, the normal bits. I noticed from carpet footprints that people didn't venture far into rooms on Saturday.

 

So there were 15 X 10 minute inspections Saturday last week, with 3 offers

There was a weekday inspection, under the same Covid rules - although NSW rules had changed, ACT rules were still the same.

A third Saturday inspection - this time Covid rules allowed an open house, with 24 groups through, plus a few obligatory neighbours. There were more offers, with the current price 13% up on the first offer, with several parties in competition. The latest price is well above the expectations from the agent and from ourselves. So despite Covid, it's been a good result.

 

We're exchanging. The final price, less than 2 weeks after the first showing, is 21% up on the first offer - though that first offer hadn't quite reached the best estimate high price. The auction, due in 2 weeks, won't be going ahead.

So we're very happy with the price, which is way above the predicted range, the speed of selling, and the agent's work.

Such is the nature of the current market.

 

Congratulations on the sale.