By. Michael McNamara
Q. When a settlement date is agreed, can you confirm the legalities or general framework for the vendors' vacancy from the property? I recently learnt that if the vendor refuses to depart the residence, we must then issue a notice to vacate (14 days post the agreed date). They can then continue to refuse to move until such time as suits them. How can a buyer be left without accommodation (having given rental notice), with cancellation fees for removalists, and no financial consideration under NSW law due to the vendors' actions in such regard? It's all seller protection and no buyer protection as I see it. GG
A. When you signed the contract for sale, it probably specified that the time to complete would be 42 days. This is commonly stretched out another week or so as either party tries to arrange finance and accommodation. You are right about there being little statutory protections for buyers. Seek the advice of a solicitor who will most likely advise that if the vendor has failed to provide you with vacant possession after 14 days, it may be time to take stronger action. Common law may provide a remedy, direct the vendor to vacate and possibly compensate you for your economic loss.
Please email questions to michael.mcnamara@apm.com.au.
Disclaimer: Michael McNamara is general manager of Australian Property Monitors, owned by Fairfax Media, publisher of Domain.com.au.
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