legal advice please :(

J

jvk

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ok so we signed a offer to purchase 2 months back for a very decent price (less than what the seller owes the bank!) they accepted the offer and we paid over all the money..deposit,fees etc and was told verbally that they waiting for a clearance certifiacate but because our unit was not listed on the system it's taking long (2 months now) ...anyways we managed to get the number of the auditor who does the complex financials and she advised that ALL units were listed !

so my question is WHY WHY WHY would the lawyers (and maybe the sellers ?) try and stall the sale ? could they have perhaps gotten a better offer and now want to back out of our deal ???

what legal recourse do i have ?

any advice would be greatly appreciated
 
Javs, even if you offer is not accepted (worst case scenario) and they accept a higher offer. You should get your deposit back, I'm sure!
 
Looks like they are waiting for you to back out, they might have got a better offer.

You could fight it but will end up costing you in the end.
 
Looks like they are waiting for you to back out, they might have got a better offer.

You could fight it but will end up costing you in the end.
 
What clearance certificate? Maybe the municipal rates?

They should get the rates certificate and a note from the body corporate stating that all is in order - why not confirm which certificate it is they're waiting for and push to get it from whomever.

They may have an offer in hand that is possibly subject to a sale of other property and are stalling hoping that that may come through - it's illegal but hard for you to take action on if it's happening.
 
Frankie said:
What clearance certificate? Maybe the municipal rates?

They should get the rates certificate and a note from the body corporate stating that all is in order - why not confirm which certificate it is they're waiting for and push to get it from whomever.

They may have an offer in hand that is possibly subject to a sale of other property and are stalling hoping that that may come through - it's illegal but hard for you to take action on if it's happening.
Click to expand...

I pretty sure it's the municipal rate's clearance certificate. As per the offer to purchase the deal can't be cancelled unless both parties have agreed in writing or can the offfer to purchase still lapse after three months ???

another question is: on the offer to purchase it states that we can take occupancy on the 1st of november ...what if we don't and we stay on renting in our current place until the sale goes through ...do we still owe them occupational rent from the 1st november untill the sale goes through or is it at their own cost... hope that makes sense...

bloody lawyers :mad: i'd be really p!$$ed off if they try and back out!
 
javs said:
ok so we signed a offer to purchase 2 months back for a very decent price (less than what the seller owes the bank!) they accepted the offer and we paid over all the money..deposit,fees etc and was told verbally that they waiting for a clearance certifiacate but because our unit was not listed on the system it's taking long (2 months now) ...anyways we managed to get the number of the auditor who does the complex financials and she advised that ALL units were listed !

so my question is WHY WHY WHY would the lawyers (and maybe the sellers ?) try and stall the sale ? could they have perhaps gotten a better offer and now want to back out of our deal ???

what legal recourse do i have ?

any advice would be greatly appreciated
Click to expand...

1st off - was the bank aware of the deal ? The current owner would have had get agreement and sign an acknowledgement of debt(acronym that attorneys and estate agents love to drop on you is AOD ) with the bank if selling for less than outstanding bond. Remember the property basically belongs to the bank until all outstanding bond debt is settled.

My advice would be to get everything in writing from the transferring attorneys and make your decisions from there.

[edit - Jozie has an online database where you can check your rates on any property - at least I think it's still up and running)
 
javs said:
I pretty sure it's the municipal rate's clearance certificate. As per the offer to purchase the deal can't be cancelled unless both parties have agreed in writing or can the offfer to purchase still lapse after three months ???
Click to expand...
The offer will expire after the agreed time period while awaiting acceptance, but once accepted it's binding, but this doesn't mean that they wont take a chance with you.
another question is: on the offer to purchase it states that we can take occupancy on the 1st of november ...what if we don't and we stay on renting in our current place until the sale goes through ...do we still owe them occupational rent from the 1st november untill the sale goes through or is it at their own cost... hope that makes sense...

bloody lawyers :mad: i'd be really p!$$ed off if they try and back out!
Click to expand...
If the registration happens before 1st Nov and they are still in the premises then they need to pay you occupational rent until they move - if you agreed to move in before registration then you pay occupational rent while waiting for registration - if they make the property available to you as per the agreement then you pay regardless of you choosing not to occupy.


As suggested above, seek advice from a lawyer or at least the agent - maybe an agent that's not connected to this deal.
 
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