Jan 9, 2017

Buying leased properties...beware!


Buying leased properties.......beware!

Check the condition of the property before signing the contract as the property may be handed over at the time of settlement in the same condition as it was on the day you signed the contract.

Category: Notice
Posted by: craig

Buying leased properties.......beware!

Buying leased property brings with it some additional risks. These risks vary depending on the buyers circumstances.

All buyers should take care to diligently check the condition of the property before signing the contract as you should expect the property to be handed over at the time of settlement in much the same condition as it was on the day you signed the contract.

Theoretically this is pretty straightforward however what happens when there is a tenant involved and the tenant leaves the property in a less than acceptable condition, and, potentially with some damage?

In order to bring the property up to an acceptable standard prior to settlement it is possible to have the cleaning and repairs required to be paid for by a deduction from the tenants bond. This can be managed with the assitance of the leasing agent and the co-operation of the vendor.

But what happens if the bond money doesn't cover the cost of the repairs? Call us for more information on this unusual circumstance.

ALL BUYERS should take photos of the property before signing a contract, and check the operation of fixtures. Do the unusual when inspecting including checking behind paintings and pictures on walls - you might be surprised what is hidden under these!

Being diligent and collecting evidence can assist in protecting your rights and avoiding a dispute on the condition of the property as settlement approaches.

 

 

 

 

 

News

Buyers ....call us first for.....

Buyers ....call us first for.....

Mar 10, 2018 | Notice | craig

Obligation and cost free advice before you sign a contract.                                                                                                                                                                   

Our advice is guaranteed to give you peace of mind.

 


Mt Holden Estate Sunbury - working with developers

Mt Holden Estate Sunbury - working with developers

Mar 10, 2018 | Notice | craig

Mt Holden Estate is a boutique development of over 200 lots located in Sunbury featuring elevated blocks with magnificent views.

Sargeants Hawthorn are pleased to be partnering the developer in the sale of the Stages 4, 5 and 6.

 

 


Thank you!

Thank you!

Mar 10, 2018 | Notice | craig

Hi Team,

 

Thank you for the wonderful news about settlement! I just picked up my keys!!!

 

Such an exciting day! Thank you to you and your team for your quick help and always there to answer my 20 questions!!

Kind regards,

Jacqui

 


Paperless Conveyancing across Victoria

Paperless Conveyancing across Victoria

Mar 10, 2018 | Notice | craig

Electronic settlements are here now!

 

This means that Conveyancing is no longer a LOCAL service.

 

Land Victoria and the State Revenue Office have moved to electronic conveyancing and we’re right with them.

 

 

Testimonials

Testimonial

Jan 11, 2017 | Testimonial | craig

Thank you for your work and constant updates throughout settlement, it was great to be kept in the loop.


Pleasure working you.

Warm regards.
Chels

 

Settlement  10 January 2017