Hi, we are purchasing a unit to renovate, its vacant at the moment almost, and we have a good relationship with the vendor – the purchase has no real estate agent involved, just our solicitors, we would like early access to start cleaning up the place, do we ask at exchange of contracts for this? Any hints or tips from anyone else who has done this before? HG
Yes, you definitely need it written into the contract that you want access for renos – you might even need to be specific about what renos you’re going to do.
If it’s not in the contract, then you don’t have a leg to stand on if the vendor wants to get nasty….
Cheers
MelHi hgwells,
Melbear is right, unless it is in the contract, you chances look slim.
You definitely need to speak to your solicitor about this, and suggest that you do so before even thinking about setting foot on the premises, even without paintbrush or broom in hand!!!!
Legally speaking, without (written) consent it could be viewed as trespassing, but not only that, there are major INSURANCE issues, even if granted permission to set foot on the premises, what if (heaven forbid) you were doing work on site, and injured yourself…..who is responsible????
PLEASE SEEK PROFESSIONAL LEGAL ADVICE ON THIS ONE.
Cheers,
Jo
is a dangerous path… many unconditional contracts never come to fruition. what will happen if the property never settles and you have just spent big $ on a new kithcen etc?
Extensive list of ‘Off The Plan’ property available for sale in Perth.John – 0419 198 856
thanks for the advice guys, have just spoken to the solicitors and it seems we will be able to do a 30 day settlement so will wait until the keys are ours. HG
Might be wrong here but I thought you could arrange a contract without cooling off period and access clause granting the purchaser unfettered access to the property for the period between exchange and settlement ?
Any legal eagles on the forum here ? straighten me out if this is wrong please.
cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
Legally I don’t think there is nothing to stop you doing it – practically it’s something I wouldn’t do
Extensive list of ‘Off The Plan’ property available for sale in Perth.John – 0419 198 856
Hi AusProp – why wouldn’t you do it ? I’d like a long settlement with unfettered access, about the same period it takes for the reno. Minimum outlay during reno time minimises interest during no-income producing period. But what are the pitfalls you’re concerned about ? I could be walking down this very track next week, looking at a coastal oceanfront unit in need of reno. Any info would be appreciated.
cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
Hi all,
I have also just purchased an IP which settles in 30 days.
The property is vacant and renovations will be commencing as soon as possible well before settlement.
Tradespeople will be accessing key from agent as I will not be available.
Though unsual to say the least I can only see the benefits for me in this arrangement, saving money and time.
Cheers[biggrin]HGWELLS,
Suggest if you have a good relationship with the Vendor you talk to them, and ask for access….
We have done this on several occassions with no problems, as we spoke direct to the seller…
Cheers
Scott
Pelican Investments
http://www.pelican-invest.comHey guys
I’m not saying it’s a problem, but just make sure you do get it in writing. I’ve done it before – on a 30 day settlement, and one I’ve negotiated for my brother is a 6 month settlement, where we have access, but it’s via a much reduced ‘rental’, and we can renovate as much as we like before settlement…
Cheers
Melsorry for the delayed reply… just have a talk to a few conveyancers about their experiences with it and see if they come out with any horror stories. I only adopted my anti stance based on the discussions I had with my settlement agent. I am sure that 99% of them go fine, just hope the 1% doesn’t happen to you. Just trying to think of an example… say you have a contract to buy the property and spend $20k on renos on it whilst waiting for it to settle, then the sellers who are a married couple get divorced in a bitter dispute and a caveat is placed over the property pending a resolution. maybe that could be worked around but its off the top of my head! or you do the reno, then you lose your job unexpectedly and when you tell your bank they decide (despite having given you unconditional finance approval) that it will withdraw its finance offer (yes they can easily do this) and it is no longer going to finance your purchase.
Extensive list of ‘Off The Plan’ property available for sale in Perth.John – 0419 198 856
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