Seller trying to pull out
- Thread starter havinago
- Start date
They pulled the 'We didn't know what we were doing!' card.
Pretty sure only way they can rescind is if they are unable or unwilling to comply with a requisition. Of which this isn't the case, they've 'just got cold feet as they didn't know what they were doing' is what we have been informed.
I wonder at what point they didn't know what they were doing? When the contract was drawn up? When the place was advertised? When the inspections were being held? When the contracts were exchanged? They must have realised at some point that they were selling the place.
We had a buyer recently decide he had buyer remorse. He bought under auction conditions, cash unconditional, and waived his cooling off via his solicitor. Overnight, he decided he would not transfer the deposit and said that as he hadn't paid the deposit there was no "contract"... bzzzt! WRONG!
We had a sleepless weekend but his solicitor advised him that he had indeed bought a house.
We didn't really relax until it settled!
We had a sleepless weekend but his solicitor advised him that he had indeed bought a house.
We didn't really relax until it settled!
Yep solicitor seems to think they're not going to pull the pin.
Crack up huh!!
.... At which point was it you didn't realise what you were doing? lol
Hi havinago,
Sellers must be a havinago?
Cheers Spades.
Clearly they are trying their best. haha
Vendor escape clauses are few and far between. Insanity, death....
They have offered the house for sale on their terms, I assume that you didn't lob on their doorstep with a signed contract & deposit saying "I want to buy your house".
They have offered the house for sale on their terms, I assume that you didn't lob on their doorstep with a signed contract & deposit saying "I want to buy your house".
lmfao hilarious
I had a buyer pull out after messing me about for 2 months and there was not a thing I could do about it.
She had been delaying the purchase for about for 2 months with extensions of the finance and B & P report. It took her 5 weeks to arrange the B & P. when it came in she wanted another 2 weeks to explore issues in B & P Report.
Eventually I refused. She had paid deposit of $10k on 7th April and was still trying to extend on 3rd July. Claiming she needed a builder to explore roof issues. I explained that it was under BC and any issues would be fixed by BC. She would not accept this.
She then said she was not continuing due to unsatisfactory building report...she had to have her deposit returned.
Apparently this is the way it works in Queensland. I got a second legal opinion who confirmed this was correct
According to the legal eagles I was told she could have withdrawn on settlement day if she was claiming unsatisfactory building report.
I found it very annoying, as did my Agent, he lost his commission and it cost me legal fees.
I might add the issue was roof screws...which the BC are replacing across the entire complex. The townhouse is very close to the beach and the sea air has affected them.
Chris
She had been delaying the purchase for about for 2 months with extensions of the finance and B & P report. It took her 5 weeks to arrange the B & P. when it came in she wanted another 2 weeks to explore issues in B & P Report.
Eventually I refused. She had paid deposit of $10k on 7th April and was still trying to extend on 3rd July. Claiming she needed a builder to explore roof issues. I explained that it was under BC and any issues would be fixed by BC. She would not accept this.
She then said she was not continuing due to unsatisfactory building report...she had to have her deposit returned.
Apparently this is the way it works in Queensland. I got a second legal opinion who confirmed this was correct
According to the legal eagles I was told she could have withdrawn on settlement day if she was claiming unsatisfactory building report.
I found it very annoying, as did my Agent, he lost his commission and it cost me legal fees.
I might add the issue was roof screws...which the BC are replacing across the entire complex. The townhouse is very close to the beach and the sea air has affected them.
Chris
Should have just got your solicitor to draft a letter asking them nicely to 'Screw my client around a bit more, he/she believes you have a bit more left in you'
FAR OUT!!!
Basically this also banks can override, the vendors who signed were the owners right? It wasn't the next door neighbor doing a cheeky lol
generally little in a NSW contract to enable a vendor to pull out after exchange. They could refuse to settle - not much you can do in that case other than either:
1. Issue a notice to complete and then terminate after 14 days
2. Go to court and get an order to make them complete.
If they buggerise you around enough they may hope you just terminate.
This is because the offer was conditional to B&P inspection.
However a seller doesn't have that many options to back out but they can make it hard for you and hope you just give in.
Andrew
lol - I just spent 9 years in the courts getting a specific performance order. Would have been more productive things to do with my time in hindsight
