Yes, although only if the property has been vacated and the Vendor agrees to let you do so.

Here’s how: If both parties are agreeable, a Licence Agreement is entered in to from the day of occupation until the settlement date at an agreed fee, being the ‘license fee’ to be paid to the Vendor on the settlement day. The terms of the Licence Agreement are negotiated between each party’s conveyancer at the cost of the incoming purchaser. Such costs are normally in the vicinity of $250 – $350. Once you take occupation of the property, the risk of any damage to it transfers to you as the occupier, so it is important that you take out insurance from the date of occupation and provide the Vendor with evidence of the insurance policy. It’s to be noted that a Vendor is under no obligation to allow you to take early possession.

Categories: Buying, First Home Buyer