Browse Forums Home Finance 1 Jul 02, 2009 11:21 am Hi all, We have just bought an apartment and the contract is subject to tenancy. Our conveyancer just told me that we either need to ask the seller if we can amend the contract to say that is will be vacant on completion (why would he that would then put the responsibility back on him), as he can give them 30 days notice, and if not I need to wait until completion then give them 60 days to move. I didn't however when I spoke to said conveyancer think about the fact that the lease had expired and can't get hold of him now. Does anyone know please if that changes thing if they are on an expired lease? I.e can we just ask them to be out by completion even though we bought subject to tenancy? Thanks, Jen Re: Just bought subject to tenancy but tenants lease has expired 2Jul 02, 2009 1:04 pm I guess it's tricky as you don't 'own' the house until the contract is complete, therefore you are not the landlord. If their lease has expired I would think the current owner could just give them the amount of notice required by your state's legislation for a month to month lease, and you could take vacant possession. I would imagine this would depend on how cooperative the seller is cause you would have to adjust that clause in your contract. Renovating a post-war house in Brisbane | On the first rung of the property ladder Re: Just bought subject to tenancy but tenants lease has expired 3Jul 02, 2009 1:10 pm Thanks Ms Briz. Have looked further into it and apparently this means that even though the tenants lease has expired we still have to wait till completion date then give them 60 days?!? I had no idea of this. Our conveyancer is going to ask for the contract to be amended to say vacant possession but I bet it gets refused, why would the current owner take on the responsibility when we have already signed to say we would? So, the office of fair trading tell me that the seller can give the tenants 30 days notice anytime between exchange and completion, yet my conveyancer is saying no, if we dont get the contract amended to vacant possession, we have to wait until completion and then give 60 days notice. I dont want to do this as we would still be paying rent where we are now plus the mortgage and the rent from the tenants wouldnt even nearly cover the mortgage it would be about half of our mortgage. And the fact that our conveyancer is telling us different to what the office of fair trading is is rather worrying too. Re: Just bought subject to tenancy but tenants lease has expired 4Jul 02, 2009 11:55 pm The difference is in the contract of sale. when you buy a house with tenants and you want to move in then it should be by "vacant possession" so that the tenants are given 30 days notice, if it's not by vacant possession then the standard rental rules apply which usually means 60 days notice to tenants. I would tend to believe the conveyancer because the house is being sold with tenants not to vacate so it would put the seller in a difficult position as far as the contract goes if they give the tenants notice before you take possession now so that's why they are trying to get the contract amended. Re: Just bought subject to tenancy but tenants lease has expired 5Jul 08, 2009 2:45 pm Hi peeps, So the seller agreed on Monday to amend the contract to subject to vacant possession (I think I owe my conveyancer for that one) and the tenants are moving out apparently on 6th August. Everything is done done, the bank valuation was done this morning and we managed to extend the cooling off period to Friday (it was supposed to end at 5pm last night and we got it extended in the final 20 mins). So now we are just eagerly awaiting the valuation info (report should be with us tomorrow) and after that its all systems go. Could I be more ecxited?!? Joe, it depends on your certifier but we are noticing the ones we deal with are really cracking down. So i would recommend you follow your approved landscaping plans to… 4 10929 Hi Simeon, Thank you for laying it down for us. Makes sense. Appreciate it very much. Have a nice day. Cheers 2 8971 1) I had requested R6 ceiling insualtion batts, however I noticed that on some areas there are huge gaps which will allow hot air to sweep in, and also noticed black/grey… 0 3585 |