Lead time to get possesion once you say yes for an apartment

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sumitmcasgsits
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Lead time to get possesion once you say yes for an apartment

Post by sumitmcasgsits » Wed, 22 Dec 2010 1:29 pm

I want to understand, how much time it generally takes, once I say yes for an aprtment to get possession with all documents in place?

Girl_Next_Door
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Post by Girl_Next_Door » Wed, 22 Dec 2010 2:17 pm

Its not clear which stage you are at. Are you referring to "Yes, I made an offer but the landlord haven't revert if he/she accept my offer" or "Yes, I made an offer and gave the cheque to the landlord but am still waiting for all documents to come in?"

sumitmcasgsits
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Post by sumitmcasgsits » Wed, 22 Dec 2010 4:29 pm

Sorry, I think I should be clear. So I viewed aprtment and I liked it. Also agreed with Landlord on conditions. after this how many days will take to complete formality and get possession or, I can get possession immediately and paper work can go side by side?

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Post by Girl_Next_Door » Wed, 22 Dec 2010 4:45 pm

It depends on the following:
- Any existing tenants staying in the property?
- If yes, then the soonest will obviously after they have moved out and after the landlord have inspected the place & accept it in good condition.
- If no, assuming you are satisfied with the condition of the place and there is electricity running (some LL terminate the power contract and the new tenants have to re-apply the power supply in their own name), then it depends on the following:
- How fast your agent (if any) works: They usually get the tenancy agreement stamped, which is less than an hour work but you never know... a property agent always have plenty of reasons for not getting things done.
- How fast your landlord take to respond

Usually, paperwork don't go side by side but it can happen very quickly (i.e. within 2-3days). However, if you are in urgent need to move in, you can always negotiate with the Landlord,i.e. give the LL the cheque, collect the keys and get the documents sorted out over the next few days. The risk is, once you move in and if there is anything wrong with the place (before proper handover), you might be holding on to the shorter end of the rope.

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ksl
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Post by ksl » Thu, 23 Dec 2010 9:46 pm

sumitmcasgsits wrote:Sorry, I think I should be clear. So I viewed aprtment and I liked it. Also agreed with Landlord on conditions. after this how many days will take to complete formality and get possession or, I can get possession immediately and paper work can go side by side?
Have you ensured the person you agreed the conditions with is the landlord and not a tenant subletting, to get a deposit out of you before he runs away :) I find it a little odd, you didn't mention the agent at all, so i presume you may have found the place in the newspaper.

You need to be very cautious about the people you are dealing with, paying up a deposit and such beforehand, without proving the person is the landlord. Though 2 or 3 days should be enough to complete the paperwork. At least ask for his identification details and note them

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