Originally Posted by Hino (Post 10813144)

In late May I agreed to sell my Australian ( N.S.W. ) property with the settlement delayed until late September. At the time my intention was to return to U.K and retire there once the house had settled.

Contracts were exchanged and a 10% deposit paid by the ‘purchaser’, with the deal in place I went to U.K to start preparations for my new life. Now that I’ve been back here for a while, I feel I’ve made a big mistake in agreeing to sell my Australian property and I’m thinking of pulling out of the agreement.

From what I’ve been able to gain from the internet, the contract to sell, is written by the vendor to protect the vendor. So if the purchaser fails to act as agreed, the penalties are clear and substantial..... they lose their deposit.

But if the vendor decides to ‘pull the plug’ then the situation is much less clear. I gather that the ‘purchaser’ can apply for a writ for the vendor to complete as agreed, but if he/she fails to comply, it seems the only recourse the ‘purchaser’ has, is to go to the Supreme Court and ask that the original contract is enforced.

I’m more than happy to refund the deposit and any reasonable expenses incurred by the ‘purchaser’ and as I know the party involved, I really don’t think that they are in a position to finance a trip to the higher courts. Of course I’ll seek legal advice as soon as I return to Australia in August, but I was wondering if any forum members had ever been in a similar situation.

Originally Posted by Dreamy (Post 10813825)

Vendor Breaking Contract

I don't know why you're saying you're only having doubts now when you were having them the weekend you signed the contract?

What did your solicitor say at the time?

Originally Posted by BadgeIsBack (Post 10813888)

Hino is only human and he is wondering what his options are.

It's not fair to dump somone months on, so I don't think it should happen even if Hino compensates.
IF the buyer said 'OK then!' 'well all good - but I don't they will.

The law is something else.

Originally Posted by Dreamy (Post 10813891)

He's been wondering what his options are since the weekend he signed the contract.

Originally Posted by renth (Post 10813958)

http://youtube.com/watch?v=qak-fmYlBRc

Man up Hino, sell the house as contractually obliged to and if you want to come back, buy another one...

Originally Posted by Amazulu (Post 10813975)

Agree

The property conveyancing system in Australia is streets ahead of England, where their setup is an absolute joke. Generally we don't get gazumping here or people pulling out a few days before exchange

Originally Posted by sonlymewalter (Post 10813989)

you're right mate gazumping is illegal in most states but not here in Qld. It happened to us and the arseholes who pulled out left us high and dry as we'd sold our place ......yep.... Hino should man up and stand by the contract agreed to.

Originally Posted by Amazulu (Post 10813975)

Agree

The property conveyancing system in Australia is streets ahead of England, where their setup is an absolute joke. Generally we don't get gazumping here or people pulling out a few days before exchange

Originally Posted by Amazulu (Post 10814026)

Yep. The person buying the property also has plans and aspirations

Originally Posted by ozzieeagle (Post 10814155)

All the Purchasers would have to do in this situation, is call this mob....




Kenyons do the real graft in this.... No cost at all to plantiff and circa 10pct plus costs to the plantiff guaranteed.

Then get on with another purchase whilst this takes 18months or so to go through... It's probably worth waiting for the Guaranteed 40 -65 K.... If the Vendor fights it all he does is increase his costs.

http://www.slatergordon.com.au/acqui...enyons-lawyers

I'd be dead chuffed if this happend to me... free money. The Plantiffs would also know on day 1 if they are going to get their money or not via a instant credit check.

Used them in 2 uninsured car accidents, plenty of people swear by Kenyons around here.

If I were the Purchasers, I'd view this as a minor Tatts win.

My response would be "Make my day"