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Rent before settlement?

Discussion in 'Introductions' started by Brendan Long, 7th Oct, 2016.

  1. Brendan Long

    Brendan Long New Member

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    My fiance and myself have recently sold our first house and settlement is tomorrow. We have told the buyer that we are a very private couple and they cannot take photos or advertise our house for rent until settlement is over. Our last night in our house was tonight and we had a nice family dinner to celebrate our last night. We walked out the front to say goodbye to our families where we found a for lease sign bolted to our front fence. Whilst we were having dinner, the new real estate agent had put a sign up out the front. Settlement is not until tomorrow afternoon. Its hard enough selling your first ever house and to come out the front and see this on your last night....it was horrible. Is the real estate allowed to do this before settlement day/time. Especially without our permission. I live near Geelong in Victoria. Thanks.
     
  2. JacM

    JacM VIC Buyer's Agent Business Member

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    Hi @Brendan Long

    Sorry to hear about this, I can imagine that this has stressed you out at a really disruptive time.

    Was there a conditional of sale permitting it? If so, all is above board. If not, the hassle is going to be that by the time you complain about it and they send the sign people out to remove it, you'll be settled, so you are probably stuck with the sign regardless of how much it upsets you.

    Have you had a chat to your solicitor/conveyancer to determine if there has been a breach of contract and your available remedies/entitlements? There are two avenues of thought :
    • Potential breach of contract by the purchaser (speak to your solicitor/conveyancer); and
    • Advertising for lease without a managing authority with you by the rental agent. Regarding this, you might decide to report your problem with the rental agent through consumer affairs, as a property you currently own is being advertised for lease with no managing authority held between the rental agent and yourself, the current owner.
     
  3. Dean Collins

    Dean Collins Well-Known Member

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    I'd say get over it eg 18 hours is no big deal.

    If I was buying and a vendor stipulated no advertising until settlement I'd be asking them to pay the first few weeks rent while the property sat idle.

    Did you get your asking price? if so then no big deal and be happy the purchaser turns up at settlement with finances in order ready to write you a check.

    Sorry but if this is the biggest issue in your life you need to worry about.....be thankful that you have a fantastic life and be happy :)
     
  4. Joynz

    Joynz Well-Known Member

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    If the sign had been installed a week ago, I can understand your feelings. But the night before you leave is just an annoyance rather than a disaster.

    I would have just unbolted the sign myself if I didn't like it!

    If you are moving out the next day, then there isn't really much privacy to disrupt.

    (Incidentally, leaving on the day of settlement is cutting it a bit fine, and there have been a few posts on this forum by purchasers worried that the vendors are leaving it too late to move by settlement!)
     
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  5. Joynz

    Joynz Well-Known Member

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    Just wanted to add that selling a house and moving, especially a popr, is a really highly charged and emotionally fraught time. So I can empathise with feeling a bit taken aback - but was probably just a stuff up by the sign company.

    Just unbolt the sign - problem solved! (But let the REA know.)
     
  6. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

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    Yep!

    That's what I'd do.

    Having said that - it's only a day out from settlement so I probably wouldn't bother.

    Cheers

    Jamie
     
  7. kierank

    kierank Well-Known Member

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    I agree with @Joynz.

    @Brendan Long, you really shouldn't have been there (not saying the REA did the right thing by you). At the latest, I feel you should have moved out the day before settlement.

    I would keep the settlement date in reserve to cover any last minute hiccups, final tidy-up, final clean, etc.

    Is the buyer doing a pre-settlement inspection. Typically it is done in the morning of settlement day (if not the day before). If they turn up and the property is a mess (removalist on-site, furniture dismantled and lying everywhere, boxes everywhere, rubbish everywhere, ...), you run the risk the buyer will advise their solicitor that they couldn't do their inspection and attempt to delay the settlement, seek compensation from you, ...

    That is far more stressful than having a For Lease sign on your front fence.
     
  8. pinkboy

    pinkboy Well-Known Member Premium Member

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    Id wander out to the sign with a permanent marker and give a the real estate agent a make over with a moustache, devil horns and some tattoos and piercings.

    It would be unAustralian of you if you didnt!

    pinkboy
     
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  9. Scott No Mates

    Scott No Mates Well-Known Member

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    @Brendan Long


    Invite @datto over to help with the placement of the tatts & piercings. You don't want to get those wrong - like it'd be too embarrassing, you could never show your face in the neighbourhood again.
     
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  10. Xenia

    Xenia Adelaide Property Manager Business Member

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    They should have gotten permission and no they don't have the right before settlement.

    You have the right to just pull it out.

    I personally would not give it any more energy.
     
  11. Terry_w

    Terry_w Solicitor, Finance Broker, CTA Business Member

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    Tresspass
     
  12. Marg4000

    Marg4000 Well-Known Member

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    Just remove the sign and put it in the backyard.
    Shame if it accidentally breaks.
    Marg
     
  13. kierank

    kierank Well-Known Member

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    @Brendan Long better be out before settlement otherwise they might be charged with trespassing :) :).
     
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  14. Terry_w

    Terry_w Solicitor, Finance Broker, CTA Business Member

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    Unlikely the vendornwould settle with the vendor still in there.
     
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  15. kierank

    kierank Well-Known Member

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    Then settlement may be delayed and all the issues that would cause ... :) :).
     
  16. ttn

    ttn Member

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    I always thought settlement on weekdays but not on weekend? Get something to cover it if helps.
     
  17. Colin Rice

    Colin Rice Mortgage Broker Australia Wide Business Member

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    Just think about the disbursed funds about to land in your account on settlement day :)
     
  18. datto

    datto Well-Known Member

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    If you insist lol.

    What? Should I put it back in?
     
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  19. Xenia

    Xenia Adelaide Property Manager Business Member

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    Hope that was good for you hunny bunny.
     
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