From: Marina .
Hi everyone,
My parents purchased a block of land and paid the 10% deposit and signed the contracts.
3 weeks later my dad got sick and now they will not proceed with the purchase.
There was never a SUBJECT TO FINANCE in the contract.
So the bottom line is according to the sales agent they will lose their $19500 b/c of non- settlement.
I enquired about on-selling, if they could find a buyer in the next 2 months before settlement , but they said they cannot do it until the land is settled. It is their policy.
Just to explain land in this area is only sold and purchased from the on site sales office.
Normally when you purchase land in this estate you cannot sell for 3 years unless you are sick or have financial problems.
This is why you cannot on-sell.
Does anyone know a way around this so they do not lose their money.
Thanks
Marina.
I
Hi everyone,
My parents purchased a block of land and paid the 10% deposit and signed the contracts.
3 weeks later my dad got sick and now they will not proceed with the purchase.
There was never a SUBJECT TO FINANCE in the contract.
So the bottom line is according to the sales agent they will lose their $19500 b/c of non- settlement.
I enquired about on-selling, if they could find a buyer in the next 2 months before settlement , but they said they cannot do it until the land is settled. It is their policy.
Just to explain land in this area is only sold and purchased from the on site sales office.
Normally when you purchase land in this estate you cannot sell for 3 years unless you are sick or have financial problems.
This is why you cannot on-sell.
Does anyone know a way around this so they do not lose their money.
Thanks
Marina.
I
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