My cousin sold his flat in Melbourne and settlement was suppose to be on Monday. He was informed by the conveyancers that there were some problems with the signatures of the buyers and that it might take another week. He was also informed that if it didnt go thru that he would have to put the flat back on the market.
He has already moved out and is renting and was relying on the settlement money to help him thru as he is experiencing financial strain.
My question is what can he claim for the settlement being held back, ie. mortgage payments: rent etc.
Also who is liable and what action if any can he take if settlement falls thru altogether and he has to place his home back on the market. I undertand that he gets to keep the 5% deposit minus all the fees from the agents and conveyancers?
Your imput is much appreciated!!!
Regards
John
He has already moved out and is renting and was relying on the settlement money to help him thru as he is experiencing financial strain.
My question is what can he claim for the settlement being held back, ie. mortgage payments: rent etc.
Also who is liable and what action if any can he take if settlement falls thru altogether and he has to place his home back on the market. I undertand that he gets to keep the 5% deposit minus all the fees from the agents and conveyancers?
Your imput is much appreciated!!!
Regards
John