NSW Buying an existing home with only Interim Occupancy Certificate

Discussion in 'The Buying & Selling Process' started by Vijay1, 8th Sep, 2020.

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  1. Vijay1

    Vijay1 Member

    Joined:
    30th Jun, 2018
    Posts:
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    Location:
    Sydney
    I'm close to signing a contract but my solicitor gave me a heads up there is no final occupancy certificate from the current owner. The interim occupancy certificate states only landscaping is pending, agent advises that is completed and council person needs to certify in a week.

    Do I wait until the final OC before signing the contract or go head now? There is a cooling off with refund.

    How do I know if the current owner will stand by their words. They are not ok to put OC completion clause in the contract.

    House is 4 years old.

    Please advise.
     
    Vijay1, 8th Sep, 2020
    #1
  2. wylie

    wylie Moderator Staff Member

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    18th Jun, 2015
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    Location:
    Brisbane
    I’d want to know why the completion clause can’t go on the contract if it is expected in a week. Sounds suspicious to me.
     
    wylie, 9th Sep, 2020
    #2
    craigc and Propertunity like this.
  3. Propertunity

    Propertunity Well-Known Member

    Joined:
    19th Jun, 2015
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    NSW
    That's really strange.
    It's a little odd too, that the house has presumably been lived in for 4 years with no final OC.
    If it is only landscaping - does the landscaping look done to you?
    Worst case scenario would appear to be: landscaping not done and you need to do it. Does the deal still stack up if you have to finish the landscaping at your own expense?
    Also if the agent says that the landscaping is done, and it turns out not to be the case, you would have a claim against the REA to make good on the landscaping at their own expense.
    Personally, I'd probably proceed to purchase, but cautiously.
     
    Propertunity, 9th Sep, 2020
    #3