I'm really confused here.
Have we a bad decision? Are we in a cooling off period? I think not but there seems to be some conflicts.
Ok so my wife and I like this property and we made an offer by email to the REA.
We offered 417k, was told vendor wanted 430k.
We counter offered with 420k when meeting the REA.
When meeting the REA, there were two blank contracts of sale (only the first pages though) wherein we filled our name, address and conveyancer details along with the purchase price of $420k, deposit $42k and balance of $378k. No date however was filled in on the form. Or at least the form that we have.
We also paid a 0.25% holding deposit.
This was last Friday at lunch time
REA sent a text message around 11pm that night saying that the offer was accepted and that the vendor signed the second copy that the REA had.
There was a clause in the contract that we wanted to strike out however was told that these first pages don't actually imply an exchange of contracts and that our conveyancer would be forwarded all the necessary paperwork so as to undergo a formal exchange and negotiate clauses, etc.
Spoke to my conveyancer on Monday and s/he had received no contact from vendor's solicitor. Was told today by REA that they were in court all day yesterday.
Spoke at 6pm today with my conveyancer and all that s/he has received was a blank contract of sale late this afternoon and a request to complete a 66w. From that I assume that I am not in a cooling off period and no exchange has taken place. If so where exactly do I stand?
Tomorrow my conveyancer will get in contact with vendor's solicitor and if they don't agree to a cooling off period and do not agree to strike off clauses then can I rescind my offer and get my 0.25% back?
One clause specifically is that the purchaser agrees to pay for any special levies prior to exchange of contracts. Obviously not in my best interests and without a strata report who knows what we may be due to pay if we were to sign such conditions.
My conveyancer is notoriously busy and difficult to get a hold of. They have yet to arrange a strata report. I was hesitant to sign the front page of the contract on Friday without being given the okay by my conveyancer. My conveyancer was told by the REA that this process is how this particular REA goes about things and that on Monday we'd be able to strike out clauses, cross out the land tax agreement and whatnot.
Have we a bad decision? Are we in a cooling off period? I think not but there seems to be some conflicts.
Ok so my wife and I like this property and we made an offer by email to the REA.
We offered 417k, was told vendor wanted 430k.
We counter offered with 420k when meeting the REA.
When meeting the REA, there were two blank contracts of sale (only the first pages though) wherein we filled our name, address and conveyancer details along with the purchase price of $420k, deposit $42k and balance of $378k. No date however was filled in on the form. Or at least the form that we have.
We also paid a 0.25% holding deposit.
This was last Friday at lunch time
REA sent a text message around 11pm that night saying that the offer was accepted and that the vendor signed the second copy that the REA had.
There was a clause in the contract that we wanted to strike out however was told that these first pages don't actually imply an exchange of contracts and that our conveyancer would be forwarded all the necessary paperwork so as to undergo a formal exchange and negotiate clauses, etc.
Spoke to my conveyancer on Monday and s/he had received no contact from vendor's solicitor. Was told today by REA that they were in court all day yesterday.
Spoke at 6pm today with my conveyancer and all that s/he has received was a blank contract of sale late this afternoon and a request to complete a 66w. From that I assume that I am not in a cooling off period and no exchange has taken place. If so where exactly do I stand?
Tomorrow my conveyancer will get in contact with vendor's solicitor and if they don't agree to a cooling off period and do not agree to strike off clauses then can I rescind my offer and get my 0.25% back?
One clause specifically is that the purchaser agrees to pay for any special levies prior to exchange of contracts. Obviously not in my best interests and without a strata report who knows what we may be due to pay if we were to sign such conditions.
My conveyancer is notoriously busy and difficult to get a hold of. They have yet to arrange a strata report. I was hesitant to sign the front page of the contract on Friday without being given the okay by my conveyancer. My conveyancer was told by the REA that this process is how this particular REA goes about things and that on Monday we'd be able to strike out clauses, cross out the land tax agreement and whatnot.