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NSW: Can a Vendor stop a Purchaser from Advertising Lease

Discussion in 'Property Management' started by Chilliblue, 7th Jul, 2015.

  1. Chilliblue

    Chilliblue Well-Known Member

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    A friend who is waiting for settlement has been advised that they cannot advertise the property for lease as the vendor is not granting permission.

    Can anyone advise if this is correct as I have never experienced this.
     
  2. twobobsworth

    twobobsworth Well-Known Member

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    I've always put in the special conditions to allow access to market and show the property prior to settlement by the agent.

    Does the vendor live at the property?
     
  3. Pistonbroke

    Pistonbroke Well-Known Member

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    The purchaser or their agent has no rights to enter the property until settlement or otherwise agreed in the contract of sale.
     
  4. DaveM

    DaveM Adelaide Buyers Agent & KFC Strategist Business Member

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    They probably dont want their address and belongings in photos on a for lease listing. Yet had them just fine on a for sale listing.

    Yes I am sure they could force the listing to be taken down via an injunction or legal threats, but by the time that runs its course it will be settled anyway.
     
  5. Chilliblue

    Chilliblue Well-Known Member

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    Property is currently vacant and the vendors selling agent has advised the purchasers solicitor that the property may not be advertised under any circumstances as being available as from the settlement date.

    I have left a message for my conveyancer as I cannot see how an new external image of the property advertised (no inspections of the property) could be a concern to the vendor and if they could legally stop the marketing. Settlement is a week away.

    Unfortunately this area has a high vacancy rate and they hoping to generate some interest.

    Thanks for the replies.
     
  6. Terry_w

    Terry_w Solicitor, Finance Broker, CTA Business Member

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    Why would you listen to the selling agent? What does the contract say?
     
  7. Big Red

    Big Red Well-Known Member

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    I would like to know on what basis is the vendor rejecting the listing for rent post you owning the property?
     
  8. Stimpy

    Stimpy Member

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    This.

    You dont own it yet so if a vendor doesnt want it advertising, its their choice, they dont need a reason.
     
  9. DaveM

    DaveM Adelaide Buyers Agent & KFC Strategist Business Member

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    They may be concerned that if its shown as empty and available it may be subject to vandalism given the high vacany rate, and they dont want to increase their risk
     
  10. Chilliblue

    Chilliblue Well-Known Member

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    Well the official position is that the vendor does have the right to say no and they have advised my friends solicitor that as they are not allowing the current tenant to remain in occupancy then no permission is granted.

    There must be something between the vendor and tenant is paying the same rental as they did 5 years ago.

    Something I have learnt today.