we are giving the default notice and hope for the tenants to still being in the house for the 14 days after that so the contract will then be done and dusted.
forfeit of deposit???
- Thread starter melbourne
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we are giving the default notice and hope for the tenants to still being in the house for the 14 days after that so the contract will then be done and dusted.
I saw this article in our local rag. Very interesting!
http://www.goldcoast.com.au/article/2012/03/24/401781_gold-coast-real-estate.html
http://www.goldcoast.com.au/article/2012/03/24/401781_gold-coast-real-estate.html
the seller was a complete idiot. you can't just change your mind like that.
he deserves to pay EVERY cent of it and more.
You mean the purchaser? They just decided they didn't want the property anymore.
see the judgment
South Sky Investments Pty Ltd v Luppi [2012] QSC 27
http://jade.barnet.com.au/Jade.html#sy=261412
The defendants did not appear at the hearing!
yeah the purchaser is an idiot and a half!
Probably. Agent sales agreements are usually worded so that commission is payable if contracts are exchange.
Melbourne
In Victoria, a solicitor must discuss fees with you before doing any work. It is very unusual for them to forget, because it means the client can get out of paying them. Are you SURE no fee estimate was given?
Perhaps you don't express yourself very well in writing, but your posts in this thread give the impression of someone who is very difficult to get along with, clues being: your lawyer won't take your calls, you don't have a trusting relationship with your conveyancer, you want to extract compensation for a situation that hasn't really impacted you all that negatively (and could actually be construed as a bonus by a person who hasn't actually sold their house).
With your current attitude, I can see this whole situation turning into a giant screw-up where you lose the property or your deposit, is what I'm saying. So heed the earlier advice to chill out and act rationally.
In Victoria, a solicitor must discuss fees with you before doing any work. It is very unusual for them to forget, because it means the client can get out of paying them. Are you SURE no fee estimate was given?
Perhaps you don't express yourself very well in writing, but your posts in this thread give the impression of someone who is very difficult to get along with, clues being: your lawyer won't take your calls, you don't have a trusting relationship with your conveyancer, you want to extract compensation for a situation that hasn't really impacted you all that negatively (and could actually be construed as a bonus by a person who hasn't actually sold their house).
With your current attitude, I can see this whole situation turning into a giant screw-up where you lose the property or your deposit, is what I'm saying. So heed the earlier advice to chill out and act rationally.
Usually if the fees will be over a certain amount - about $700.
1 - the lawyer i've contacted was for advice and no he didnt specify ANY rates whatsoever, he gave me advice within 2 days plus an "opinion" and then an invoice comes through for $500.00. Tried to call him various times with him not being in the office or being on another call. If i have a problem with an invoice, id like to discuss it.
2 - i want compensation because if i was thevendor, i'd be in the *****.
3 - i wont lose my deposit because im not the one backing out and not respecting what the contract clearly states (vacant possession).
the default notice will be issued today so we have 14 days to get this **** sorted.
4 - how would you feel? and whats the point of having a contract if it gets broken? what if i was the vendor doing this on the purchaser? a contract is there so that both parties agree to it, they both decide on a setllement date and protects both us and the vendor, right? Whether i've sold my house or not, its irrelevant. For all i know, my house isn't even on the market.
We are not doing any favours to ANYONE. Read the contract.
Perhaps it would cost him more than $500 in time to discuss it with you, and he is very busy, so not worth his effort ... if you don't pay he'll just hand it to his debt collectors.
Only if you had an unreasonable purchaser
That's what the clauses in the contract are for - like paying 10%pa interest if unable to settle on time. Doesn't mean you can necessarily back out or recind
Annoyed - but if it wasn't vital that I settle immediately (say, if I was moving house) then I would be rather happy with a 10%pa return until settlement.
Contract hasn't been broken - that's what the delayed settlement clauses are in the contract for. Often the shoe is on the other foot when the banks stuff up (like losing paperwork multiple times as has happened to myself) and the purchaser needs to delay settlement for a period. Doesn't mean the contract is broken. It's called life.
Sure the vendor made a dumb move - or maybe their property manager did without the vendors knowledge - but hey, we're all human and it's nice to make an effort to get along.
I think you mean "purcahser doing this on a vendor". As above
Sure - but sometimes other things get in the way - usually banks, or reluctant to vacate tenants.
Yes - is irrelevant - but is also an advantage to you from what you've said previous.
Chill and relax. This sort of thing will happen many many times over your investing career. Not worth getting worked up about. The world is not out to get you. The vendors are not your enemy. No one is going to get hurt of killed in this process. You are entitled to 10%pa daily compensation which is probably higher than your rent return. Let the legal guys sort it out and start looking for your next IP.
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It's tax deductible, don't worry about the small stuff.
well, the default notice has been served and one has been received too.
apparently the vendor states that we agreed to amend the contract to remove the option of "vacant possession". hilarious.
So im off to get a lawyer.
Not necessarily
But then it just becomes a "he said/she said". How would that hold up in court?
I'm still a big advocate of chilling out, and just simply playing the contract to the letter ie, don't settle until vacant and take the 10% penalities, rather than these threats and counter threats.
Sounds like it's starting to become a "push and shove" contest rather than an unemotional business agreement of sale/purchase
I'm still a big advocate of chilling out, and just simply playing the contract to the letter ie, don't settle until vacant and take the 10% penalities, rather than these threats and counter threats.
Sounds like it's starting to become a "push and shove" contest rather than an unemotional business agreement of sale/purchase
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