Hi Everyone,
In Victoria, if you pay your 10% deposit and both parties sign the Contract of Sale subject to e.g. finance approval, building/pest inspection, etc. can the vendor then go and sign unconditionally with another buyer (as they can in some other states)? What are the costs associated with backing out of a Contract due finance or building issues?
Any responses are appreciated.
In Victoria, if you pay your 10% deposit and both parties sign the Contract of Sale subject to e.g. finance approval, building/pest inspection, etc. can the vendor then go and sign unconditionally with another buyer (as they can in some other states)? What are the costs associated with backing out of a Contract due finance or building issues?
Any responses are appreciated.