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And to reiterate, this is probably the best option in my opinion. Dump this lemon and get a better property haha :)

And beware penalty interest.

Like you hobo, when I first read this thread yesterday and got to "Bendigo" I was intent on writing a few words to help compleks understand the full picture. However, the young chap had already purchased, leaving no time to offer proper guidance. To rescind the contract now may lead to more...

Congratulations! I look forward to seeing how you progress with settlement.