Cooling off and deposit VIC
- Thread starter imbi3
- Start date
No cooling off at auction. No finance clause, no special conditions.
Auction conditions apply even to negotiated sale 3 clear business days prior to or after date of the auction, or the advertised date if the sale occurred in the 3 days prior.
If you can't get the agents bank details, try harder. I doubt they'll call it all off if you're a day late, but you could technically be in breach of contract. Consider showing up at their office with a bank cheque.
Auction conditions apply even to negotiated sale 3 clear business days prior to or after date of the auction, or the advertised date if the sale occurred in the 3 days prior.
If you can't get the agents bank details, try harder. I doubt they'll call it all off if you're a day late, but you could technically be in breach of contract. Consider showing up at their office with a bank cheque.
I'm sure you're welcome to a building inspection, but I suspect you won't be able to get out of the sale if you don't like the result. I'd be happy to be wrong about this, but everything I've ever been told by solicitors is that auction conditions apply for 3 clear business days.
You waive cooling off under s 31(5) of the Sale of Land Act 1962 if +/- 3 days of auction, but if they vendors have accepted insertion of a special condition - "subject to building inspection" - then I would think that's a separate matter. (Rider: I am not a lawyer and all that.
)I have spoken to my solicitor. Yes no cooling period. However, building and pest inspection is ok because the special clause was added in and agreed to by all parties. You guys may laugh, but I had a buyers remorse this morning and not able to think with clear head. I am back to my usual self again...
