After some advice on this situation..
I placed a property under contract in my own personal name 2 weeks ago. The following day I let the conveyancer know of the name change as I changed from my personal name to a company/trust set up.
3pm Friday after noon (11 days later) I get a phone call from their solicitor telling me the only way I can change the name on the contract is by "Deed of Rescission" or by tearing up the old contract and getting the real estate agent to draw up a new contract with the new name and having both parties sign.
The real estate agent said he would have been happy to do this except that the seller has left for Bali for holidays and doesn't want to bother him.
I was told the deed of rescission will cost between $150 and $550.
The property hasn't gone unconditional yet.
I am a bit annoyed that it was left so late to advise me on what was required with changing the name as I did have prior opportunity to have a new contract drawn up at no cost. It seems they have missed this till the last minute. Paying $150 isn't so bad but if it is $550 it seems to much.
What's your thoughts on this, suck it up and pay, or try to put it back onto the conveyancer ?
Cheers
I placed a property under contract in my own personal name 2 weeks ago. The following day I let the conveyancer know of the name change as I changed from my personal name to a company/trust set up.
3pm Friday after noon (11 days later) I get a phone call from their solicitor telling me the only way I can change the name on the contract is by "Deed of Rescission" or by tearing up the old contract and getting the real estate agent to draw up a new contract with the new name and having both parties sign.
The real estate agent said he would have been happy to do this except that the seller has left for Bali for holidays and doesn't want to bother him.
I was told the deed of rescission will cost between $150 and $550.
The property hasn't gone unconditional yet.
I am a bit annoyed that it was left so late to advise me on what was required with changing the name as I did have prior opportunity to have a new contract drawn up at no cost. It seems they have missed this till the last minute. Paying $150 isn't so bad but if it is $550 it seems to much.
What's your thoughts on this, suck it up and pay, or try to put it back onto the conveyancer ?
Cheers