I'm having exactly the same problem as 'thamask' i was going to post a thread, but i will put my story below (not in an attempt to steal masks thunder, but hopefully to assist us both)
Property due to settle 16th feb i think it was, was delayed to 27th feb, notice to complete was issued shortly after 16th due to expire around 4th march. (added: didnt settle on 27th, delayed again settlement date unknown)
After some investigation (conveyancer was absolutly useless, i contacted RE agent)
apprently the vendor doesn't have their **** together with finance, they own some other investment properties and this one i think has more debt on it then its selling for *note this may not be the case* but are currently having other properties revalued by their bank.
Now what i would like to know if anyone has knowledge on here.
1.) Is their anyway i can lose out on this sale, is their something legally binding that force them to sell me the property?
2.) From talking to a few different people, conveyancers/re agent they don't seem to have a straight answer but they said if they couldn't i would have to sue them for costs (Inspections, conveyancers fees etc etc)
Some people say u have less holding costs, but its a positive CF property before tax deductions.
I know its prolly just the vendors bank jackin them around, i wish people could be bloody organised as i've had to mess around tradies doing things for me and i know their patience is wearing thin.
Cheers,
RH
