Belly-Up wrote:Does anyone know how Occupational Rent is calculated and how do I find out what it would be for the area I live in and for the period that I have been belly up for?
I do not understand why you need this but:
This is negotiated between yourself and the seller and is the monthly rent you, the buyer, would need to pay the seller if you take occupation of the property before formal transfer of ownership title has taken place at the Deeds Office. Remember that it will be paid before you move in. If transfer of the property takes place before you, as the buyer, move into the property, then the seller will need to pay you occupational rent. The amount of the occupational rent is usually included in the Offer to Purchase document and is pre-agreed between the buyer and the seller.