Often properties are sold with tenants in place.  This doesn’t necessarily mean that the tenant will be in the property from the settlement date.  The real estate agent will no doubt advise you of when the tenant will be vacating the property, but be sure to check the tenancies section of the contract.  This section…

There are a couple of common misconceptions regarding settlement funds.  Many people assume the following for settlement: that they will only be required to pay the purchase price, less any deposit paid under the contract; and that their financier will be providing the loan amount and they only need to pay any shortfall of funds….