what do i do?? please help

[Piston Broke]

Most of us needed to be told more than once in the early days... So once again:

Agree with the other posts, but in summary what I would do is:

Get my own solicitor.

Not talk to them about rental at all refer them to my solicitor.
That's why I'm paying him/her.

Instruct my solicitor that the settlement must be strictly for vacant possession and make clear that I won't accept anything else.

Refer any further conversation from anybody re current tenant or further rental to the solicitor.
I would simply say "I dunno, you need to talk to the solicitor".

Get insurance or a cover note on the property asap

Get another agent to manage the property asap.

The onus is now on them to deliver vacant possession.
If they can;t settle by due date, instruct your solicitor to charge the vendor $150 (more if you have family) per night it would cost you not to move in and stay in temp accomodation.
Because that was my intention all along.

good luck

Don't talk to him ever again, refer him to your new solicitor, he can't win unless you give in to the pressure. If he can't contact you he can't pressure you.

Tell your solicitor that no settlement unless vacant possession and property inspection on day of settlement (after tenant has moved out).

Good luck

HARDEN UP. This is an investment right? Take a step away from the emotional blackmail that the REA is putting on you.

There was a person on here who posted about having rented to a REA who then turned around and wouldnt pay the rent. Knew every trick in the book to stay in the property without paying any rent.

DONT LET THEM STAY. Getting them out and them doing damage on the way out is not your problem. Its the vendors BUT DO NOT SIGN A LEASE WITH THEM. EVER.

Good luck. let us know what happens.

 

[schweedy]

If its a delay in the settlement he wants, shouldn't he be talking to the seller, as it will be the sellers problem.

Catch is, settlement is going to be delayed one way or the other. He has asked for an extra week, so you can get your solicitor to negotiate that with the owner/lawyers on the other side, at the going market rate (minimal $450), not to mention any extras your solicitor suggests you ask for. And still do not take settlement until its vacant possession. Even if it means not inspecting until the day before scheduled settlement.

You will have the cost/rent deducted from the purchase price (at 450 per week + maybe extra penalties), thus this will be the owners problem to take the tenant to the tribunal for the extras (if he can be bothered, if its and IP, its probably made him enough in capital gains in the time he has owned it). And it keeps you right out of the ugly mess.

Key is dont settle until vacant, do not engage with the RE/tenant and ask him to cease and disist in harrassing you, take it through the appropriate channels.

 

[kathryn d]

I agree,don't settle until he,s out,

However on thinking that this is not your normal tenant and is the REA that was involved,it would not surprise me he knows the rules / loopholes and is hoping you wont settle so he gets to keep the house at the present rent.

Just a thought?

I was thinking the same thing.
Also as Rugrat said.Don't feel sorry for him.He sounds like a weasel.

 

[travelbug]

The agent has NO right to ask for an extension.

The owner must make that decision. Tenants can't ask to extend the settlement period with anyone but the owner.

I'd love to know what the owner thinks of all this or is he out of the loop?

As others have said I'd not have dealings with him. Tell him it is the owners (seller) decision as to whether settlement is extended. He needs to approach them.

Here's hoping your next purchase goes smoothly (please don't let this put you off real estate). Many people buy 1 property, have a little trouble and give up.

 

[vincenzo]

Looking forward to reading another update!
There's lots of good advice in this thread, hope everyone gets what they deserve... and that you never let a rea take advantage of you again!

So, you're not going to be using this same agency to manage future tenants, right?

 

[APLK]

All your dealings are with your Solicitor or Conveyancer, not with the agent, not with the purchaser's Solicitor.
Let them do the running around "that's why you are paying them"
REMEMBER don't settle until you get vacant possession.

 

[RE rocks]

IP2 Settled !!! Hurray and rented out as well

Finally after all the pain, the REA decided to punch couple of doors and thats it. Property settled with Vacant possession. Got new tenants who are paying decent rent and looking after the property.

I did ask for compensation for those punch holes in the doors. The Vendor decided to pay $300. ( WHich i havent recieved so far looks unlikely).

Having said that i am happy with the end result.

Appreciate all your inputs. SS rocks

Good outcome with all the dramas. I wanted to take this further by reporting the agent to his agency but i decided against it.

 

[EVOSTi]

glad you are happy with the outcome. but you are too soft, report them!

 

[schweedy]

Glad to hear you had a final outcome.
I'd cut your losses and leave it all behind you.
You dont have him as a tenant, your getting reasonable rent, your in a much better position than you could have been.
Well done on your purchase, enjoy.

 

[RE rocks]

Thanks everyone for your help with this

 

[Miss V]

I would definately report this agent to the principal. It is dispicable behaviour from anybody, let alone someone who actually deals with real estate. I am sure the principal would be very interested in hearing how immature one of his employees is behaving, and potentially disreputing his business.

Cheers

V

 

[pennyc]

absolutely report him. I know you think it isnt worth the hassle but he will do it to another investor. I have had rotten tenants before and I always report them it is even worse that he is an agent. I would be sending an email to his principal and cc the REIV.