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Buying over rented property

 
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sonata



Joined: 24 Feb 2006
Posts: 28

PostPosted: Fri Feb 24, 2006 4:57 pm    Post subject: Buying over rented property Reply with quote

i am buying over an office lot. I am currently renting it.
S&P signed on end november 2005.

the lawyer told me that i have to pay the rental until the sale is thru.

My bank has paid up the sellers bank on mid february but have not paid the seller yet. They are in the process of paying him.

How long will this take?

Do i have to pay the seller the March rental if he has not received the money on march???? My loan payment starts in march too.
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Noor713



Joined: 15 May 2005
Posts: 507
Location: Sri Hartamas

PostPosted: Sun Feb 26, 2006 3:01 pm    Post subject: Reply with quote

Hi sonata!

You still have to pay the rental although your bank has redeemed the owner's loan and you will continue paying until the day of actual delivery of vacant possession.

Cheers!
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xsw05



Joined: 12 Jul 2005
Posts: 172

PostPosted: Thu Mar 02, 2006 4:15 pm    Post subject: Reply with quote

Once your lawyer fully paid to seller solicitor, the seller have to deliver vacant possession to you.
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winnie the pooh



Joined: 24 Jan 2006
Posts: 1999

PostPosted: Thu Mar 02, 2006 4:19 pm    Post subject: Reply with quote

hello... if you occupying the office lot, how to deliver vacant possession to you? what? somemore keys already with you what. ask you to get out first, izzit??? Rolling Eyes
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sonata



Joined: 24 Feb 2006
Posts: 28

PostPosted: Sun Mar 05, 2006 12:25 pm    Post subject: Reply with quote

how long will the bank take to pay up the seller?

the seller`s bank was paid up on 3rd february.
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nick1994



Joined: 24 Apr 2005
Posts: 6116

PostPosted: Sun Mar 05, 2006 7:42 pm    Post subject: Reply with quote

....so kleber & can know how 2 call authorities on a pseudo church probelm ...






...but cant figure such a simple thing out...............oooohhhhh...............so da pitiful..



NOT!
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winnie the pooh



Joined: 24 Jan 2006
Posts: 1999

PostPosted: Mon Mar 06, 2006 12:45 am    Post subject: Reply with quote

mebbe he ask the landlord to kick the church out before he buy... eventhough all this while he occupy as tenant no complaint. Laughing
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nick1994



Joined: 24 Apr 2005
Posts: 6116

PostPosted: Mon Mar 06, 2006 9:10 am    Post subject: Reply with quote

....no ler.........................thats why 4 such an enterprising activist, i'm surprised he doesnt know it all alredi..........





he know how 2 call the local authorities wor..................
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winnie the pooh



Joined: 24 Jan 2006
Posts: 1999

PostPosted: Mon Mar 06, 2006 10:01 am    Post subject: Reply with quote

we can't all be experts in everything... Wink
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nick1994



Joined: 24 Apr 2005
Posts: 6116

PostPosted: Mon Mar 06, 2006 10:18 am    Post subject: Reply with quote

*surprised*........................... Wink
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xsw05



Joined: 12 Jul 2005
Posts: 172

PostPosted: Mon Mar 06, 2006 11:41 am    Post subject: Reply with quote

winnie the pooh wrote:
hello... if you occupying the office lot, how to deliver vacant possession to you? what? somemore keys already with you what. ask you to get out first, izzit??? Rolling Eyes


In this case, in the SPA, you only stated deliver possession...correct me

i come across this matters before, previously i bought a house with tenanted, although in the SPA stated deliver vacant possession, but come to the time, the tenant was not moving out, but advise frm my solicitor, frm that day onward the rental was belong to me.
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winnie the pooh



Joined: 24 Jan 2006
Posts: 1999

PostPosted: Mon Mar 06, 2006 11:56 am    Post subject: Reply with quote

bravo!
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