Selling Ip

Discussion in 'The Buying & Selling Process' started by Thedoc, 26th Jul, 2021.

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  1. Thedoc

    Thedoc Well-Known Member

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    Hey guys,

    How much notice do I need to give my tenant if I intend to sell? Property is in NSW and the tenant is on a week to week lease (ie- no fixed term).

    Cheers
     
    Thedoc, 26th Jul, 2021
    #1
  2. Mick Butterfield

    Mick Butterfield Well-Known Member

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    If the property is sold due and you are needing vacant possession you are required to give a minimum of 30 days notice in writing.
     
    Mick Butterfield, 26th Jul, 2021
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  3. Thedoc

    Thedoc Well-Known Member

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    Sorry Im still confused. So if today I decide I want to sell. I only have to give 30 days to put it on the market (that is leaving the tenant in place unless they decide to leave themselves). Correct?
     
    Thedoc, 26th Jul, 2021
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  4. Mick Butterfield

    Mick Butterfield Well-Known Member

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    Sorry if you have entered into a contract of sale you are required to give a minimum 30 days. If you are looking to terminate during a periodic agreement (which you are in) it is 90 days minimum. May be worth holding off until a buyer is found and contract entered into?
     
    Last edited by a moderator: 26th Jul, 2021
    Mick Butterfield, 26th Jul, 2021
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  5. Thedoc

    Thedoc Well-Known Member

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    Thanks mate. Not looking to terminate happy to have a crack with the tenant in place so 30 days it is I guess. Then once it’s under contract I give 90 days yeah?
     
    Thedoc, 26th Jul, 2021
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  6. Mick Butterfield

    Mick Butterfield Well-Known Member

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    No once under contract it is 30 days min. if doing no 90 min.
     
    Mick Butterfield, 26th Jul, 2021
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  7. Scott No Mates

    Scott No Mates Well-Known Member

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    Scott No Mates, 26th Jul, 2021
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