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Licence agreement between a vendor and a purchaser, vic

Discussion in 'The Buying & Selling Process' started by Tillie, 1st Nov, 2015.

  1. Tillie

    Tillie Well-Known Member

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    18th Jun, 2015
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    Location:
    Melbourne
    Signed a contract yesterday and after that REA mentioned that the purchaser would like to get early access and offered to sign a licence agreement and pay market rent. The settlement period is 30 days only anyway. The house is empty and I do not have any problems to grant early access if purchasers 'final' inspection is at the time of the signing a licence agreement and all repairs and maintenance is their responsibility. Also I do not want to pay getting agreement drafted by our solicitor. How does these agreements normally work and what's normal protocol to get them made?
     
  2. Terry_w

    Terry_w Solicitor, Finance Broker, CTA Business Member

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    Sydney
    Up to negotiation.

    Get their solicitor to draft it and they pay the cost - your solicitor can then amend it as necessary.
     
  3. CU@THETOP

    CU@THETOP Well-Known Member

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    19th Jun, 2015
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    Brisbane
    Insurance?
     
  4. Greyghost

    Greyghost Well-Known Member

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    As what terry said..
    I'm afraid you can't have your cake and not pay for it too..
     
  5. KateAshmor

    KateAshmor Victorian conveyancing lawyer Business Member

    Joined:
    25th Jun, 2015
    Posts:
    75
    Location:
    Melbourne
    If settlement doesn't proceed, it may be difficult to get them out.

    Would they be able to conduct renovations/alterations from the day they move in?

    They should be required to get their own building and contents insurance from they day they arrive.

    The full amount of the licence fee/rent should either be paid in advance or added to the adjustments at settlement.