Help, vendor won't settle

H

huntresslove

Hi, I was hoping someone can point me in the right direction.

I bought a property and was due to settle earlier in the week.
The settlement was due to happen in the morning but after inspection the day before,
There was still furniture and rubbish everywhere.

The vendor said they will try to clear it up before settlement but didn't.
so settlement was delayed until 2pm in the afternoon. The vendor's solicitor said they were not available at 2pm.

So now the vendor's solicitor will not settle until he gets extra payment for the rescheduled settlement. I'm sure his is not entitled to it especially from me. As I did not breach the contract, the contract states I need to settle on the day before 4pm, which I was ready to do by at 2pm.

So what can I do to make settlement happen, since vendor solicitor is been unreasonable and dragging this out for no reason?
I only have a conveyancer for the settlement. Can I take the vendor to court or tribunal or something to enforce the contract?
Do I need to settle this up or can my conveyancer to this for me?

Appreciate any input thanks!
 
conveyancers are fine when thing go smooth. Now is exactly the time when you need to switch from a conveyancer to a good property lawyer.
 
Hi.
This is roughly how it works
1. You can make a demand for specific performance. This demand must allow a reasonable time for the vendor to settle. What is a reasonable time that depends on the specific circumstances and also victorian law is different jurisdiction from me. If the demand for specific performance ( ie settlement) then you can apply to a court for specific performance.

However I agree with Ausprop, a good lawyer will resolve quickly and will probably cost you less in the longrun. The lawyer on their side can just get a form from the vendor to take the funds from the settlement monies which is a very easy process. Sounds to me like something a bit unknown.

I wouldn't attempt it by myself, you can try your conveyancer but they will be limited by what they can do without d\being deemed to providce legal services. Lawyer is best bet.
 
I'd just go to settlement.....The vendor (from memory) has until 1:00pm the day after settlement to hand over possession. If vendor's stuff is still there, stick it one the verge/in the bin. Im sure it will be cheaper than getting a lawyer involved.
 
Thanks for your comments, I'm looking into getting a lawyer involve and see what they can do.
i think the vendor has changed their mind and don't want to sell anymore hence using this as an excuse to try and get out of the contract.
 
I've heard 2.5 years, truckloads of stress, near divorce and well over 60K in legal fees.

If the Vendor doesn't want to settle, I'd buy something else.
 
Our Vendor last year didn't want to settle, and made it difficult so it looked like we couldn't meet our deadline.
Long story short, we threatened to sue, involved our lawyer.We settled at 10:30 that morning with 90 minutes to spare.
It cost $5k in lawyer fees, but we got the property.

It was a very lucrative property, as it had 4 mobile homes (trailers) thrown in for free when we pruchased the 4 bedroom house.(we now get $2525 month rent from these mobiles)
The rent on the house pays the mortgage.

So yes, I would suggest settle now.
After you buy the property, go in remove everything. That would be lots cheaper than dragging it out with a lawyer.
 
Times like this you realise why you want to be the one owning the property ...
vendors have so much more rights than the purchasers. Standard contracts and the additional clauses the vendors' solicitors always pile on ensure that if the purchaser fails to complete, they get to charge some ridiculous level of interest per day and get other compensation from you ....but as a purchaser, there's very little (practically) you can do if vendor does not complete on time ..... everyone's already mentioned the cost and time involved in legal proceedings, you really dont want to be involved in that .....

I'd suggest find out how much he wants for a rescheduled settlement. If it's a reasonable amount, say a few hundo and you are keen on the place, then give it another try.

Good luck.
 
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