poppyjasper

Hi
We are in the process of buying our first home near Sydney and all paper work on our side in complete and we have asked solicitor for a completion date of next Friday. We are already a week over the original 42 days to complete. Solicitor has got back to us and said the sellers bank haven't released the papers (deeds??) yet.
Why wouldnt they have released them? Is this something we should be worried about (I am btw)? The house is empty as they have already moved.
Are we not paying them enough to pay off their mortgage? Do you think they may be in arrears?

Or is this normal?

Sorry for all the questions but 6 mths on rental is up soon and didnt want to re-new the lease.

Thanks for listening.
Poppy

Jacque

Hi Poppy

You really need to speak to your solicitor for clarification about this situation, and find out what papers she's referring to, as it's unusual for a vendor to hold up settlement (usually it's the buyer!)
Your solicitor would have issued a Notice to Complete when it was obvious that settlement wasn't occurring, and this give both parties 14 days to complete, or else you can actually then rescind the contract. Best advice I can give is to talk to your solicitor, as they are representing your interests and are in the best position to assist.
Best of luck with it all

poppyjasper

Thanks for replying.
I'll get on to solicitor on Monday I think, hopefully I'm worrying about nothing.

Thanks again
Poppy

quercus

If the worst comes to the worst, you probably wouldn't need to renew your rental lease, just continue a month at a time.

Good luck!