Repairs before Settlement

Hi All,

Has anyone requested for repairs/minor reno to be done before settlement? I.e. I have already negotiated a reduction in purchase price, but would like to start repairing the house so that I can put it on rent quicker - these would include:
- New floors (remove carpet, update to hybrid)
- Restore and Repaint Roof
- Fix some drainage issues around house
- Add some handrails to outdoor stairs
- Update the electricals (lights)
- Random Handyman stuff, patch ups, new door handles etc.

Not sure if people do this, or generally wait - so thought I’d check

thanks!

 

what if it doesn't settle?

If I was the vendor I would worry about you damaging my house and then not settling.
If i was the purchaser I would worry about the vendor refusing to settle and then you have to try to recover your costs.

Watch out for valuers timing too. A valuer coming in and seeing half completed renos will value it low.

What about the insurance issues. If something happens who is liable and who is covered?

 

As a vendor would not agree to it.

 

You are refering to "early access" !

Should have been negotiated during contract, or with a later request the vendor will demand $$'s to grant your request

Am guessing this wasn't part of your original plan, then you changed your mind ?

*Edit; these are improvements and upgrades, NOT considered repairs !
(Possibly witb the exception of drainage issue's, maybe).

 

Only permissible if you had contract clauses added in this regard into the actual contract prior to signing and agreeing by both parties.
The vendor needs to agree, needs strict legal advise, but has been utilized on occasions.
I often add many clauses for access between contract and settlement for taking measurements and brining in tradies for quotes to utilize the time, BUT these need to be added and negotiated with vendors prior to signing the contract, not after.

 

Thanks all!

I’ve already been given access for quotes, but agree there is a risk if settlement doesn’t happen for whatever reason. The only item I have been allowed to do is Pest Management before settlement.

Will wait till after settlement for the Reno/repairs and coordinate it all in a week so there’s not too much rent loss.

Thanks!

 

We've done this. The house was on the market for 6 months. It needed a full reno. They were considering doing it to try to sell. We bought it. We asked for permission to remove wallpaper (it was in EVERY room) and carpet. And we wouldn't start removing kitchen, bathroom etc. They would have been better off if it fell through.
Worked out great as it took weeks to get that wallpaper off.
I've tried a few other times but couldn't get agreement. One wouldn't even let us put furniture in the garage.

 

I have done this but was exclusively discussed and added into the contract. It is great to have something like this in place when you are 100% confident it will settle and have no hiccups whatsoever. Saved me from keeping the property vacant for 1-2 weeks.

Worst case you add the time to complete works post settlement and pre-advertising.

 

If I was the vendor and it was vacant I would rent it to you. Otherwise, no. You can do as you wish when its yours You getting early access adds to value...so pay me for that.