Early Access after Exchange

Hi,

I am currently look at a house to go to auction soon and I keep hearing about those who negotiate 'early access' or access to the property after exchange, but before settlement to carry out improvements or make a run down property ready for tenancy.

The property we are looking at is going to auction. Does anybody here have experience trying to negotiate a term like this into a contract? Does it usually cost extra money to do so?

Any advice on approaching this would be appreciated.

 

It depends on seller but normally I just say No to buyer if they have such request

 

just ask.

The vendor would usually want you to enter in a licence to occupy agreement and want you to pay their costs for drafting this.

 

And if sale goes pear shaped you may lose the value or even be liable for damage or the vendor may have all sorts of issues with what you have done (and how then do you seperate your issues from their mess ??)

Patience and waiting to the date of sale is quite normal. I have had some bizarre requests when selling and the answer is NO.....Same as I wont settle a property if the existing owner isnt out and its in good order. Impossible to resolve after settlement.

 

Usually use a license to occupy.

They have every right to say no though. Some will allow and some won't due to the risks involved.

 

I always negotiate early access to the property so either renovations can commence, or design and planning for a knockdown can start (also negotiate for the vendor to sign any DA related paperwork).

Most vendors are Ok with this however it's not guaranteed. Our solicitor has this as part of our standard set of special conditions.

 

I also get asked and never allow it. When you own it you can do what you like until then I own it. Dont like it then dont buy.

I also have mate that does devs who now refuses to sell OTP as he reckons no matter how clear he makes it that NO CHANGES are permitted somebuyer asks for mods the day after signing. Reckons they say yes yes yes one day and the next they are a pain inthe arse. Every single one. They want tiles changes, walls moved, diffrent colours and even one wanted a extra bedroom...

 

Thank you all, appreciate the insightful replies

 

Hiya

Agree with Terry - just ask the question.

We obtained access to an IP post exchange/prior to settlement. Our solicitor had something in writing from the vendors approving it.

Cheers

Jamie

 

I granted early access on a sale a few years ago. There are risks but you can insist they don't change anything, no Reno's, until after settlement