Hi,
I am about to purchase my first property and have come across a situation that I am not familiar with.
Settlement was supposed to be this Wednesday. The vendor have requested a deferred settlement date to next Monday because they forgot to clear out their propoerty in preparation for settlement. This would all be fine except I have tenants ready to move in on the Friday and I really needed the weekend to clear the property out and get it ready for settlement. I have tried to negotiate for access to the property over the weekend to clear the yard and get things cleaned up. I was denied because the vendors don’t know when they will be able to complete clearance of left-over furniture.
Sooooo…my question is what are my rights here? It seems that if I miss settlement I have to pay financial penalties. However in this matter I am not being compensated and they will not even grant me access over the weekend to clear the yard!
I would like to hear about your experiences and how you have dealt with them, or maybe help me understand my rights.
Thanks!
If you are in NSW, as a purchaser you have no remedy if the Vendor delays settlement for a few days.
If the Vendor delays settlement fo more than 14 days you can serve a notice to complete making completion a time of essence and then terminate the Contract.
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