A few weeks ago ( 4 actually) we made an offer on a property it was accepted and we paid the $1000 holding deposit.
The bank has stuffed us around and while we have the credit approved there is one more thing that has to be done legally (smsf loan)
We have kept the real estate in the loop of where we are up to as it has cost us nearly $4000 to get to this point. But we have yet to exchange ! We have had our MB & 2 solicitors ring the RE to say that it will be exchanged and we have the money but these items just need fixing before hand.
I had a call from the RE today to say the property will be advertised in this weekends paper as they can't wait any longer. I advised him that we would exchange before Xmas and probably settle in 3 weeks after that.
My questions are -
* Am I entitled to my $ 1000 holding deposit back and if so when should I ask for it, now or wait to see if we exchange before someone else
* If someone makes an offer and the proceeds with searches, building and pest and then we come in and exchange over them is that really right ?
Thanks for your time
The bank has stuffed us around and while we have the credit approved there is one more thing that has to be done legally (smsf loan)
We have kept the real estate in the loop of where we are up to as it has cost us nearly $4000 to get to this point. But we have yet to exchange ! We have had our MB & 2 solicitors ring the RE to say that it will be exchanged and we have the money but these items just need fixing before hand.
I had a call from the RE today to say the property will be advertised in this weekends paper as they can't wait any longer. I advised him that we would exchange before Xmas and probably settle in 3 weeks after that.
My questions are -
* Am I entitled to my $ 1000 holding deposit back and if so when should I ask for it, now or wait to see if we exchange before someone else
* If someone makes an offer and the proceeds with searches, building and pest and then we come in and exchange over them is that really right ?
Thanks for your time