Buyer's rights of access during settlement period NSW

Discussion in 'The Buying & Selling Process' started by mojorising, 5th Oct, 2018.

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  1. mojorising

    mojorising Well-Known Member

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    What rights of access does the buyer have during settlement after exchanging contracts and before settlement date in NSW?

    I think they are normally entitled to access once for each of:-

    1. Mortgage Valuation (if the purchase is subject to finance)
    2. Building and pest (if that it is in the contract)

    What else?
     
  2. jazzsidana

    jazzsidana Well-Known Member

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    Below are few -
    Final property inspection check just before the settlement.

    If investment, buyer could request open house to lease the property before contract gets signed and after it's unconditional..

    Depending up report from building inspector, buyer could request other tradies to access the site to get estimated cost to fix things before building and pest subject to clause expires.

    Cheers,
     
  3. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    Access is not a right but something contracted between the parties. Under the standard contract the buyer is allowed an inspection before settlement, but this may or may not apply to your situation - review the contract to find out.
     
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  4. neK

    neK Well-Known Member

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    Agreed, unless stipulated in the contract, there is no right to access.

    However asking nicely often yields good results.
    If I had sold, and the buyer asked they could come in a measure up to work things out (e.g. Renovations, furniture, etc) I would happily allow it if was 2-3 times in total. More than that it starts becoming an annoyance.
     
  5. mojorising

    mojorising Well-Known Member

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    Thanks for the advice.

    There was no building and pest clause as they did B&P before signing and cooling off was waived.

    Banks have been through for valuation.

    So in terms of access I think that just leaves final inspection.
     
  6. neK

    neK Well-Known Member

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    @mojorising
    Remember this, if you don't ask, you don't get.
    What's the worse that can happen if you call the real estate and ask for access?
     
  7. mojorising

    mojorising Well-Known Member

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    Gold Coast, QLD
    ^Thanks Nek

    I am the vendor and I am not using an agent.

    Just checking what the situation is in case the buyer does ask as I have only sold in QLD before.