Post Contract of sale issue

[What_to_do]

I have sold my house and the contract was subject to finance and a deposit bond was used. The purchaser has requested to have an additional few weeks which they claimed they need more to prepare some paper work with the bank. I have granted them an extension. In the case that they bank doesn’t grant them the funds am I entitled to request to see that the actual bank has rejected their application for the loan? Further to this if they are unable to provide this what happens in relation to the deposit bond ~ do they forfeit their 10% deposit?

Your advise would be appreciated

 

[Rolf Latham]

Hiya

best to ask ur soli.

i see it this way.

If the finance condition was extended, and the contract did not go unconditional, then they arent in breach if they dont complete.

On that basis the bond cant be claimed.

Yes, id say you have a right to see the finance ha ing been declined

But seek proper advice pls

ta
rolf

 

[What_to_do]

Thanks Rolf ~ Will follow through with my solicitor on Tuesday

Enjoy the long weekend