Another delayed settlement ...

[RedApple]

Hi All,

I have a property due to settle in WA tomorrow. There were a few repairs and incomplete painting jobs around the house that the vendor agreed (as per our contract)to get them all done & fixed BY 8/4/13. He didn't even get started until that day. We had 5weeks contract period. Now half of them are not even done, remaining half very poorly completed.

I told them yesterday we can't settle until he has honoured the agreements we had on the contract and he agreed to fix them up today but this ended up not happening.

Today my conveyancer called me to say that the vendor's solicitor advised that they can't settle because the vendor is having some issues with the bank on refinancing stuff ...weird

3 of the many repair things that concern me are: his partially done paint job, broken smoke alarm and air cond not working. Warranty period has expired and on our contract he assured all applicances are operational.

In this case what are my rights ? Can I settle but hold back some money to be kept by the sales agent, hire qualified trades people to fix up the broken pieces and give him back what's remaining ? I cannot trust him to do any of the jobs he promised to complete.

Any advises much appreciated.

Thanks

 

[Archer]

What does your settlement agent say?

If he cant advise you, you may need to seek legal advice.

 

[westminster]

You can negotiate a reduction if they don't complete those items. Generally you say $xx dollars and if they agree then the settlement agents add it in during disbursements.

However they need to be ready for settlement. They have 3 days grace then from then on you can charge penalties if you want.

 

[Aaron_C]

Today my conveyancer called me to say that the vendor's solicitor advised that they can't settle because the vendor is having some issues with the bank on refinancing stuff ...weird

There must be a cross collateralisation and the bank is either refusing to release the security or they are in the middle of doing so (They need 2 weeks from notification of release).

 

[RedApple]

Hi Archer, my settlement agent says we can negociate to withold some money until the jobs are done and and just go ahead with settlement. He's reluctant to agree. At this stage looks like they can't settle bcos of his own issues with the bank....

She has also issued a notice that if they're not ready to settle after 3 days we will charge them interest. I'm not to keen on going after the interest but really need him to complete the repairs properly per our contract agreement.

The main and major problem is him not completing the repairs or not doing them properly ... the results are horrifyingly shocking. Can I insist on getting trades people to do the jobs and pay for them with the withheld money ?

What does your settlement agent say?
If he cant advise you, you may need to seek legal advice.

 

[RedApple]

Great idea !!! Thanks Westminister

This vendor is sooo seriously and unbelievably slack. I've requested to personally speak with him over the phone as things are going no where between him and the sales agent. There is long list of repairs but he keeps on downplaying them saying they are only 2 mins job. In the end half are not done, and half are in a mess!!!!

You can negotiate a reduction if they don't complete those items. Generally you say $xx dollars and if they agree then the settlement agents add it in during disbursements.

However they need to be ready for settlement. They have 3 days grace then from then on you can charge penalties if you want.

 

[RedApple]

Hi Aaron_C, there probably is .. wouldn't be surprised if he had left the notification to the very last minute... the guy is nice but is shockingly and horryingly slack.

A complete nightmare buying a property from him....

There must be a cross collateralisation and the bank is either refusing to release the security or they are in the middle of doing so (They need 2 weeks from notification of release).

 

[RedApple]

Hi All,

Just got a question about downpipes. My building inspector says the property downpipes need to be painted to avoid corrosion. The vendor had started painting one to match the villa colour a while ago before putting it up for sale. He agreed to complete the job per our contract. Now he's turning around saying they won't rust and he actually requested the white colour when building the villa. It is 1.5 years old. Question is do colourbond downpipes rust and corrode over the years if they're not painted ?

Thanks

 

[RedApple]

The vendor just sent me a bunch of rambling emails whinging he's totally over this and is offering me a chance to walk away, including more undesirabrable details about the dead grass because the tenants did not water them etc (nothing I don't already know)

He sounds surprisingly suddenly sound so childish it worries me. I do not want to walk away as this process has taken a lot of my time and money engaging conveyancers, building\pest inspections etc and I do want to complete the purchase.

We signed the contract, I've honoured all my obligations. We did have exchanged emails between the sales agent, vendor and I on the list of repairs he agreed to complete by settlement. Now he's denying them saying they were thrown in at the last minute which was completely untrue.

I suspect he has additional issues with the bank and can't settle on time among other stuff. It was just a few days ago that he happily assured me that things are going to be done as we had agreed

I find it so hard to deal with this guy as he is so unreliable and dodgy. One example: the day before he assured me that the air cond has always been working (his tenants told me it had broken down a long time ago). My PM checked, it was broken.

What to do ????

Please help.

 

[dexx]

The vendor just sent me a bunch of rambling emails whinging he's totally over this and is offering me a chance to walk away

Sounds like he thinks he can get more for it so he wants the sale to fail.

 

[RedApple]

could be, but it was just yesterday that he's really keen to settle.

Sounds like he thinks he can get more for it so he wants the sale to fail.