Early Release of Deposit

[jcwc888]

i'm in victoria
I put in a condition for an early release of deposit but it got refused in the contract as i had to give the s27.

From my understanding, i still can get the deposit if i give the s27 in 28 days?

 

[Skuri]

You can request it again through your solicitor/conveyancer. The purchasers have to give you a good reason to refuse or else it will be auto-released within 28 days. I know this because I was on the other end in my last purchase and was none too happy about it!

 

[The Y-man]

I don't think there is a time limit as such, but a notification period.

Details on this doco (in section 27 of course!)

http://www.legislation.vic.gov.au/Domino/Web_Notes/LDMS/PubLawToday.nsf/95c43dd4eac71a68ca256dde00056e7b/9455C2EC06C1DB25CA2573B7000629D9/$FILE/62-6975a126.pdf

Cheers,

The Y-man