Okay, I have no idea why I was thinking of this at 2am this morning, but anyway….
When you wrap a property and the buyer takes possession, do you keep a copy of the keys?
I know there’s nothing to stop them changing the locks again anyway, but I just wondered whether it was a good precaution.Keep smiling
Felicity
No Felicity, you dont need to keep the keys. If they default, a crowbar is sufficient! Seriously, you cannot legally enter the house when you feel like it, even if they miss a payment. Dont even think about it. Give them all the keys.
Thanks for the response.
I wasn’t planning to enter the house when the people were there!
I only thought that if you did have problems, they had to leave etc., then it might be better to have a key to open the door once they’d left than wreck the door with a crowbar….Keep smiling
FelicityHi Felicity,
Just taking Darren’s point a little further…
Just as the Commonwealth Bank would keep a set of keys to a home, neither do I and it would be certainly inappropriate to just barge in.
However, the contract that I use for my wraps contains a special condition that does allow me to gain access to the property to ensure that there has not been any unauthorised renovations, or that any agreed upon renovations have been done according to my consent and specifications.
To date I have not found need to use this clause, but it is a handy power to have just in case.
Bye,
Steve McKnight
Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
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