I'm pretty sure jodes92 was referring to the solicitor - who is her agent - not the real estate agent.
I thought not, as the REA was the only one to have received (via email) jodes92 's intention not to proceed.
URGENT Cooling Off period advice
- Thread starter jodes92
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I thought not, as the REA was the only one to have received (via email) jodes92 's intention not to proceed.
Oh, OK, I'll shut up then.I thought not, as the REA was the only one to have received (via email) jodes92 's intention not to proceed.
Yep- the soli only tried to contact me after 5.
And I was referring to the real estate agent, who isn't mine... But thanks for trying to protect me
I guess what I can conclude/ learn from this whole debacle is:
1. Just go ahead with the purchase. Given the property is pretty close to cash neutral it's probably my cheapest option
2. Dont use these solicitors again and try to get put of paying fees
3. Remember how to rescind a contract properly in the future!
Thanks everyone!
And I was referring to the real estate agent, who isn't mine... But thanks for trying to protect me
I guess what I can conclude/ learn from this whole debacle is:
1. Just go ahead with the purchase. Given the property is pretty close to cash neutral it's probably my cheapest option
2. Dont use these solicitors again and try to get put of paying fees
3. Remember how to rescind a contract properly in the future!
Thanks everyone!
Yep- the soli only tried to contact me after 5.
And I was referring to the real estate agent, who isn't mine... But thanks for trying to protect me
I guess what I can conclude/ learn from this whole debacle is:
1. Just go ahead with the purchase. Given the property is pretty close to cash neutral it's probably my cheapest option
2. Dont use these solicitors again and try to get put of paying fees
3. Remember how to rescind a contract properly in the future!
I would have thought the biggest lesson is: don't assume. Understand the process before you sign and the clock starts ticking. Every communication with your solicitor should be by phone. If you fax or email, follow up with a phone call and make sure they received it.
It is only half the solicitors fault. They should have spoken to you earlier about excercising your rights to rescind perhaps, but you should also have notified them that you wanted to rescind the contract a bit earlier.
Maybe you didn't really realise that you were in a binding contract and how dangerous this can be.
Conveyancing is a really risky business for lawyers and with little reward.
Another thing. The deposit you have paid is 5%, but is there a special condition saying the full deposit is 10% with the other 5 payable at settlement? If not, then your deposit may only be the 5% paid.
Maybe you didn't really realise that you were in a binding contract and how dangerous this can be.
Conveyancing is a really risky business for lawyers and with little reward.
Another thing. The deposit you have paid is 5%, but is there a special condition saying the full deposit is 10% with the other 5 payable at settlement? If not, then your deposit may only be the 5% paid.
I go back to my earlier comment, that if your legal rep cant get a hold of you on the last day of finance / cooling off that the standard response is to fire off a , we request extension , otherwise the deal is off letter / fax
Just my experience
ta
rolf
Just my experience
ta
rolf
The problem with emails is that just because you send one does not mean it is received at the other end.
We went to South Australia January last year and I emailed a friend about visiting. Heard nothing so I assumed she was away. In August she emailed me to make arrangements to catch up. Email had just popped into her inbox after 8 months in cyberspace.
Still scratching our heads....
Marg
We went to South Australia January last year and I emailed a friend about visiting. Heard nothing so I assumed she was away. In August she emailed me to make arrangements to catch up. Email had just popped into her inbox after 8 months in cyberspace.
Still scratching our heads....
Marg
Hi Everyone,
By way of update, it seems the vendor is not proceeding with the purchase. I am out of contract now and only lose my 0.25%. Yay!
Thanks for everyone's comments and help
Good for you Jodes- best of luck with the next purchase
Interesting read...
the way i see this is:
1. Vendor will try to force the sale either way- they know the building report is bad! and the stress of going back to the market is not worth it
2. They have given you 10 days cooling period...more then the standard so i doubt they will be reasonable and let you off the hook that easy ( point 1 ) -
3. RE is not legally bound to tell you if this is the right notice or not...he/she may not even know her/him self!! They are bound to tell you the truth- so unless you "asked/email" them that question directly i can;t see how the RE can be liable...
Keep us posted on how you go,.
Good luck! a bit of TLC and paint can normally fix a "bad building report" - i hope
Regards
Michael
the way i see this is:
1. Vendor will try to force the sale either way- they know the building report is bad! and the stress of going back to the market is not worth it
2. They have given you 10 days cooling period...more then the standard so i doubt they will be reasonable and let you off the hook that easy
( point 1 ) - 3. RE is not legally bound to tell you if this is the right notice or not...he/she may not even know her/him self!! They are bound to tell you the truth- so unless you "asked/email" them that question directly i can;t see how the RE can be liable...
Keep us posted on how you go,.
Good luck! a bit of TLC and paint can normally fix a "bad building report" - i hope
Regards
Michael
