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thank you for those answers. it is interesting how complex things can potentially become. the more informed or at least well advised we can be the better, to avoid situations like the one being presented by the first poster in this thread. so if you sign a contract to buy and the vendor...

yes i would like to know this also. when an agent is engaged to sell a property, does the agent check that the person selling owns/has authority to sell the property? do they get written instructions from the lending body if the property is mortgaged and have to agree to a selling price...

yes i thought that was the case. can you outline how that works in practice? for example, if there are more than 1 mortgages on the property and by now the property is a forced sale, who engages the agent and determines the price to sell? also is this disclosed to prospective purchasers ? are...

i feel for you and your situation but believe you are being backed into a corner especially as you say you feel you have no options. if this property could not be settled or unable to be settled then you have not actually bought it have you? mortgagee sales at auction sometimes do not...

so the agent wants you to pay another $23000 to secure this property? as i said previously this is a very unsatisfactory situation you find yourself in. what does your independent legal advice say? i would want a more secure outcome than this messing about. plenty other properties out...

i totally agree. surely if settlement has not/cannot be achieved the contract is not valid? it sounds as if you are house sitting rather than renting? not under a residential tenancy agreement and no security of tenure? how has your deposit? i suppose it suits to have the property...

yes that was my thought when i read the first post. where does it leave the renter? has any money changed hands? in regards to the purchase? should the purchaser have been told about the inability to settle prior to agreeing to buy? sounds good to live rent free but who pays for things like...