Hi,
we bought a flat and vacant possession was included in the contract. The agent has now told us that they did not give the tenant 65 days notice and that we can’t have vacant possession. I want to push the settlement date back, but the agent is pushing for us to take possession on the due date, and take on the tenants.
I’m not happy with this and wanted to get some ideas from you about my rights.
I’m going to push back and say that they stuffed up and that they’ll just have to change the date of possession, but I’m also wondering if we’d be entitled to ask for compensation for this. We have builders ready to move in on the original date of possession to do the work that needs to be done, and that will all have to be changed.
I’m definitely not cancelling out on this deal because I think I got the flat for about $25,000 less than market value, so I’m pretty happy, but I would be interested in everyone’s advice.
Thanks
Landt.[strum]If you are using a solicitor, I’d be asking him/her about this. Whatever advice you get on this forum, you need to KNOW exactly where you stand.
Wylie
Alright this is based upon Queensland:
In short if the Vendor of the Property is unable to settle as per the terms they have agreed to in the contract you are entitled to walk away from the Contract. that is option one. We already know you don’t wish to do this. Option 2 is you can delay settlement until they can settle as per the terms agreed to in the contract. You should also be in a position to recover liquidated damges from the Vendor which he/she/they will then inturn recover from the Agent. This is why the Agent is pushing for the settlement as planned – They are attempting to cover themselves. speak with your solicitor. Have them issue the notice for Damges and the delayed settlement upon the Vendor and shaft the Agent for his/her incompetence. Ultimately it is your right to take Vacant Possession as per the agreed time and date. You can get another substantial amount of cash OFF the purchase price which will ultimately come from the agents hip pocket as they have caused the problem. They should have delayed settlement right from the start in order to give the Tenants notice. They caused it you are entitled to do it so go your hardest…
Stuart Milne
Non-Conforming Specialist
READY Mortgages
http://www.readymortgages.com.au
[email protected]
Mob: 0404 056 055Thanks Stuart. I’m sure what you have just said applies in melbourne too, so I’m going to go for it.
Landt.
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