Incorrect Rental Adjustment on Settlement

[WilliamB]

Hi all,

We have just settled on a new property, and I relied on my new Settlement Agent (who is actually a Solicitor) to get everything done correctly.

On Monday I found out they did not review the tenancy agreement for the rental adjustment, and I now find myself about $1,250 short of rent due to this not being picked up.

In my experience, reviewing the rent and tenancy agreement is a standard component of the conveyance process and in the 9 property transactions I have been involved in, have just been done without any special requests.

Naturally I am a bit annoyed, and I have gone back to the solicitor to ask them to sort this out.

Can anyone tell me if I have any legs to stand on here? If it was a couple hundred bucks I wouldn't be too worried, but $1,250 is not a small amount of money.

Thanks in advance,

 

[Terry_w]

Hi all,

We have just settled on a new property, and I relied on my new Settlement Agent (who is actually a Solicitor) to get everything done correctly.

On Monday I found out they did not review the tenancy agreement for the rental adjustment, and I now find myself about $1,250 short of rent due to this not being picked up.

In my experience, reviewing the rent and tenancy agreement is a standard component of the conveyance process and in the 9 property transactions I have been involved in, have just been done without any special requests.

Naturally I am a bit annoyed, and I have gone back to the solicitor to ask them to sort this out.

Can anyone tell me if I have any legs to stand on here? If it was a couple hundred bucks I wouldn't be too worried, but $1,250 is not a small amount of money.

Thanks in advance,

You have legs!

 

[WilliamB]

Thanks Terry,

Can my solicitor go back to that of the Vendors and "demand" the adjustment be made post settlement?

Thanks again

 

[Terry_w]

Yes they can. Vendor could refuse though.

 

[WilliamB]

Thanks mate, amazing how much trouble one can get into when relying of advice of substandard "professionals".

Knowing the vendor, looks like I might be asking the solicitor themselves to sort this out from their pockets.

 

[perthguy]

Thanks mate, amazing how much trouble one can get into when relying of advice of substandard "professionals".

Knowing the vendor, looks like I might be asking the solicitor themselves to sort this out from their pockets.

Pretty slack on behalf of the Solicitor. Did they seem upset to have missed it?

 

[WilliamB]

They are following it up, with me snapping at their heels every day.

If they believed they weren't at fault, I expect they would have told me so by now

 

[perthguy]

They are following it up, with me snapping at their heels every day.

If they believed they weren't at fault, I expect they would have told me so by now

I hope they fix it.

 

[zimby]

In Exactly the same situation myself.
Luckily for about half that.
Solicitor has taken responsibility.
Worst case, I don't get the money back and I demand a reduction in fee's next time.
Lesson learnt here.
Reminds me why I hate Settling around Christmas time!