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edit - mods can delete, problem solved

As it turns out there is a section in the standard contract of sale where the vendor warrants/guarantees an unencumbered title will be presented at settlement. Didnt read that bit either. I will stop signing documents from now on O_o Thanks everyone

-------------------- 7. Charges A mortgage under the Torrens system is, theoretically, a statutory charge over the interest of the registered proprietor. It gives the mortgagee a statutory ability to foreclose or sell on default. It is basically a contract to secure payment or performance...

Guess I'll be having a chat with her tomorrow to hear what she has to say (hopefully she says it will be discharged at settlement also and I've been fretting over nothing). Then, if needed will utilise the cooling off period (pay the 0.2%) and head to VCAT to regain that 0.2% from the...

FHOG act 2000. Sect 49 (3) If an applicant who is liable to pay an amount to which this section applies has an interest in the home for which the first home owner grant was sought, the liability is a first charge on the land to which the home is affixed. Sect 49A. Registering...

Thanks all, I was under the impression it can be sold with the charge still attached to the property, which would then also be transferred into my name. Just wish I had noticed it, and readjusted my offer to the tune of 10,500$ less. So property cannot be sold whilst financial...

Thanks Mick C for your advice, The contract was signed with the only 'special conditions' being a building/pest inspection & the obvious finance clause. I am concerned as Section 1. 'Encumbrances' says 'The purchaser buys the property subject to: > Any encumbrance shown in the Vendors...

Gday all, Very long team reader - first time poster. Have recently signed a contract to purchase a ppor (have 2 existing investments). I purchased my 2 investments more than 3 years ago so am a little ice-cold to the purchasing process. I have since been married with a child and we...