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The Property Podcast

TPP369: Coronavirus: Should I pull out of my deal? Is it crazy to buy right now?

The Property Podcast

Rob Bence & Rob Dix

Business News, News, Business, Education, Investing

4.82K Ratings

🗓️ 9 April 2020

⏱️ 27 minutes

🧾️ Download transcript

Summary

The Robs are back again this week with more Coronavirus talk. As you know, the world is still a little bit of a mess at the moment and that’s left people feeling skeptical. So, two questions that we’ve heard an awful lot over the past couple of weeks are ‘should I pull out of this deal?’ and ‘would I be stupid to invest right now?’  Well, this week Rob & Rob are going to clear things up on whether you should be walking away and avoiding investing in property right now.  The guys are going to be looking at three different scenarios:  You’ve already exchanged on a property - should you complete on it? You’ve agreed the purchase of a property, but you haven’t exchanged yet You’ve been planning to invest and have been actively looking, so what should you do? Should you continue or put your plans on hold? Chances are you probably fall into one of these categories, so this will be a cracking episode for you to listen to.    This week’s Hub Extra isn’t a specific tool or app, it’s more of a lifestyle improvement, and that’s an input audit.  The Robs find it useful to do this every now and again, but even more so at the moment. What information are you taking in at the minute? Have an audit of that. There’s a lot of negativity floating around right now and a lot of that might not even be true, but it certainly won’t be useful or helpful to you. So just be careful of what information you’re taking in, especially with social media.   We’d love to hear what you think of this week’s Property Podcast over on Facebook, Twitter or Instagram. You might even have a topic you’d like us to cover in the future - if so, pop us a message on social and we’ll see what we can do.   Make sure you’ve liked and subscribed to our YouTube channel where we upload new content every week!  If that wasn’t enough, you can also join our friendly property community on the Property Hub forum. See omnystudio.com/listener for privacy information.

Transcript

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0:00.0

Hi Robby here with Rob D and you are listening to the Proty Podcast.

0:07.0

Now as we all know the world's a bit upside down right now and as an investor it can be hard to know what to do.

0:13.2

But what if you're considering pulling out of a deal?

0:16.1

Is that crazy?

0:17.4

Or if you're considering investing in a deal, is that crazy?

0:21.0

Let's find out. Welcome to the property podcast where every Thursday investors come to be informed and inspired.

0:33.6

This week's episode is for everyone who is currently active in the property market.

0:37.8

So whether you're in the process of buying a property or you're just thinking about buying a

0:42.0

property, how should you react to current events? What changes

0:45.3

should you be making to your plans? Everything that's going on at the moment is affecting everyone's plans

0:50.6

in pretty much every area of life. In property in particular, there are a lot of people

0:55.8

caught up in this at different stages wondering what they should do. Well, we can't

1:00.0

sort out the rest of your life for you, when it comes to property we can have a go.

1:04.0

And we're going to explore what your options are in three common scenarios.

1:08.1

So scenario one is you've already exchanged on a property should you complete on it.

1:13.4

Scenario 2 is you've agreed the purchase of a property.

1:16.2

You might be a fair way down the track with that,

1:18.6

but you haven't exchanged yet.

1:20.2

And scenario 3 is your earlier in the process.

1:23.0

You had been planning to invest, you've been actively looking,

1:26.0

you've been out doing viewings, what should you do?

1:28.0

Should you keep on doing that?

...

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