My name is ***** ***** I am a NSW Solicitor. Thank you for your question, and will do my best to assist you with your question. Please understand this is not legal advise Please understand this is not legal advise but a guide to assist you.
If a property is sold At auction or by private treaty, before the vendors receive any money, all debts such as mortgages, unpaid Council and water rates including any penalties and interest are paid.
This is all organised by the solicitors that act for you in the purchase.
The vendors are responsible to make sure that the property is vacant on the day settlement. You will do an inspection of the property either the day before settlement or the morning of settlement to make sure there is no damage and that the tenants or vendors are packing to leave.
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