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Update in case anyone is interested. We came home yesterday after a few days in Melbourne and found the cheque for 22k finally in our letterbox. It took almost three months and many persistent emails to our solicitor (who I will not use again) and the REA but we're glad it's over. I only wish I...

I have found some townhouses in Braddon, Lyneham and one locally that I like and are within our budget (or close to it). Will make appointments for inspections within the coming weeks and see how we go. Just out of curiousity, is there any way of funding renovations within a mortgage structure?

Unfortunately that's a lot more than we can spend atm - our budget is ~430-450k at the very most. I have seen some townhouses in the north around the 470-500k range so a lowball offer could work but doubt it'd go very far :p Do you think established apartments would be a bad choice?

Email from REA: "As soon as the vendors solicitor sends me the release order I'll arrange the cheque for you" Due to the convenient excuse of Christmas, I think this will be another 1-2 months away

It's not so much the area I don't think - I think he doesn't like the commute and living far from friends. Used to live in Braddon so would be a bit of a difference.

The one that we purchased OTP is 75sqm and has two bedrooms, one bathroom and two balconies (20sqm and 5sqm) so the size is good although I wasn't a huge fan of the kitchen. There are more established apartments in the same area that are 2 bedroom/2 bathroom within our budget and ~80-90sqm...

I have read that article. The weird thing is that we are particular about what suburb we want to live in if we buy (close to work etc) but there is so much new development there that I don't know if it's even worth buying an apartment (an established one). We are looking at getting 2-3...

This is doing my head in - I really don't get where all these loopholes are coming from. They sent a letter saying they need to extend the sunset clause because they don't have enough time - we can either rescind or sign the new agreement. We said we want to rescind. Shouldn't this be the end of...

An update on the situation - my solicitor has checked the contract and said it is fine for us to rescind and get our money back. However, they then said "the seller has not yet made a decision if they will accept your recission" and that we will need to wait until early next year to find out...

Yes it was

Really? That's terrible. Our solicitor said that she thinks we'll get it back next week so fingers crossed nothing like that happens.

Looks like it will be pretty straightforward. Our solicitor said that they have a letter written up which they will send to the developer, as some of their other clients purchased in the same development and are also rescinding. We should get our deposit back within a week or two. I will be...

Good to know - we will be rescinding then. Will be great to have the money back in our hands and to be free from the developer's whims. Never again :p

Thanks for your reply. I will probably speak to our solicitor tomorrow. I'm just confused as to how the contract can stipulate anything once it no longer exists. Am I missing something?

Hello, As some of you know, my husband and I purchased an OTP apartment mid last year. Construction has not started yet. Today I got a call from the REA saying that the developer would like to get our permission to extend the sunset clause and give them extra time to complete the apartment (2...