Hi Guys,
I was suppose to be settling my 3rd property this Tuesday and asked for a vacant position.
I was buying this property from a property finder and he was dealing with the original vendor.
However on Monday when i went to inspect the property one final time before settlement there was no signs of the tenants moving. So i decided that i will sign up a new tenancy starting from Wednesday but i never said that i will take on the existing tenancy.It was suppose to be as if the tenants have moved out and it is brand new tenancy. However it turned out to be different story.
So i was left to sort out the rent in advance and bond money to be transferred to me from the property manager whom i found did not want to share any information with me at all regarding the property or the tenants as i wasnt the buyer (the actual buyer was the property finder) i was the 3rd party. Now the original verndor/property manager said she will transfer the bond once the outstanding water bill and rent is paid but the fact is i asked for a vacant postion. The tenancy ends on settlement not 2 weeks after.
After alot of running around on the settlement day i found out that the tenants were not so good and that they were given eviction notice so upon a good phone call to my lawyers i decided i just wasnt ready to settle on that day and that i want vacant postion as requested and decided to stick to that.
Luckily i managed to get hold of the tenant and get the tenancy form and tore it infront of her telling her we are not settling today and i'm not the owner yet so this tenancy form cant start yet. She agreed happily and i got out of it. Oh yah also when i went to cancel the tenancy she showed me the letter from tenancy tribunal for a court hearing for not paying rent and she tried to convince me it could be due to her complaining about cockroaches.
A very good lesson learnt there.
So we never settled on Tuesday but the mortgage has been drawn and now for the short term i have to pay the whole mortgage myself.
This is my first experience with something like this and it has really scared me i'm not too sure when we will be settling now and am worried as to what if the vendor turns it back on me saying i signed the form but my lawyer says from what she sees i asked for a vacant position and regardless of me signing the tenancy the original tenancy was suppose to end on settlement which the vendors didnt want to do.
Has anyone being through this before or any advise for me?
Cheers,
Zeeal
I was suppose to be settling my 3rd property this Tuesday and asked for a vacant position.
I was buying this property from a property finder and he was dealing with the original vendor.
However on Monday when i went to inspect the property one final time before settlement there was no signs of the tenants moving. So i decided that i will sign up a new tenancy starting from Wednesday but i never said that i will take on the existing tenancy.It was suppose to be as if the tenants have moved out and it is brand new tenancy. However it turned out to be different story.
So i was left to sort out the rent in advance and bond money to be transferred to me from the property manager whom i found did not want to share any information with me at all regarding the property or the tenants as i wasnt the buyer (the actual buyer was the property finder) i was the 3rd party. Now the original verndor/property manager said she will transfer the bond once the outstanding water bill and rent is paid but the fact is i asked for a vacant postion. The tenancy ends on settlement not 2 weeks after.
After alot of running around on the settlement day i found out that the tenants were not so good and that they were given eviction notice so upon a good phone call to my lawyers i decided i just wasnt ready to settle on that day and that i want vacant postion as requested and decided to stick to that.
Luckily i managed to get hold of the tenant and get the tenancy form and tore it infront of her telling her we are not settling today and i'm not the owner yet so this tenancy form cant start yet. She agreed happily and i got out of it. Oh yah also when i went to cancel the tenancy she showed me the letter from tenancy tribunal for a court hearing for not paying rent and she tried to convince me it could be due to her complaining about cockroaches.
A very good lesson learnt there.
So we never settled on Tuesday but the mortgage has been drawn and now for the short term i have to pay the whole mortgage myself.
This is my first experience with something like this and it has really scared me i'm not too sure when we will be settling now and am worried as to what if the vendor turns it back on me saying i signed the form but my lawyer says from what she sees i asked for a vacant position and regardless of me signing the tenancy the original tenancy was suppose to end on settlement which the vendors didnt want to do.
Has anyone being through this before or any advise for me?
Cheers,
Zeeal
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