Seller dodging settlement.. What is a 'notice to complete' ?

[aroe]

Hello

We purchased a PPOR for ourselves in December 2013, in NSW.

There was a 3 month settlement period which we agreed to, which was due to complete early March.

The seller has come back and said to us "we want to settle late March". We agreed to settle, a couple of days after the date they requested (this suited us), which the seller then rejected, saying they needed a particular date.

Our solicitor said their solicitor is dragging his feet in terms of discussing options, and has advised us to file a 'notice to complete', which gives them 14 days... What are the possible outcomes after this 14 day period expires?

We do not wish to lose the property. It's incredibly hard to find any information online about this type of scenario.

Cheers
A

 

[thatbum]

Why don't you ask your solicitor this question? Its their job after all.

 

[Propertunity]

Unfortunately in NSW, contracts of sale favour the seller.

Possible outcomes 14 days after your soli issues a NTC on the sellers soli:
1. They actually settle - and you get possession.
2. They don't settle - and you get to wait until they are ready - which hopefully will be sometime in March as you agreed.

 

[Propertunity]

Why don't you ask your solicitor this question? Its their job after all.

^ ^ what he said.

 

[Terry_w]

Or you an terminate the contract

 

[aroe]

Thatbum, sure I'll be doing this first thing Tomorrow morning. Just after some Sunday night Somersoft love

Thanks for your input PropertyUnity. Looks like we'll be waiting this one out.

Cheers.

 

[Propertunity]

Or you an terminate the contract

Yes , that is an option but one I passed over as the OP said he did not want to lose the house.

 

[MorganConvey]

Make sure you make it clear to your solicitor that you really want to buy this Property so he doesn't jeopardise that. See if he can negotiate with the other solicitor first. Why can't you give them a particular date?

 

[cceasy]

i was in a similar situation and the seller wanted to drag it on for another month... I said no and issued the notice but as other has mentioned, it's up to the seller... lucky the seller decided to delay it by only 2 weeks

 

[MorganConvey]

How did you go?