COVID-19: We are open for business

COVID-19 is an unprecedented time in our history. We are noticing property agreements do not always or necessarily envision the situation of a pandemic and the correlating rights of the parties.

Where express terms of an agreement are silent, statute and case law may provide you rights for your circumstance. Alternatively, reaching an amicable resolution may be the best result for all parties involved. A lot has already been talked about commercial leases and what is a “fair proportion” for rent.

On the other side of the coin, COVID-19 will create opportunities in the property market and the Reserve Bank has removed the mortgage loan-to-value ratio restrictions for 12 months. These types of changes may help first home buyers succeed in finding or building their first home or for existing home owners to move into a bigger home.

It is during a downturn that opportunities to arise, but you must be vigilant that the property you back is not a lemon.

At My Property Lawyer, we can help you with your property matter and make sure you ask the right questions about your property search or sale.

Please visit our contact page on our website to inquire about our services.