Hi,
Dont worry, I’m not in this situation!! but just curious what would happen if you brought a property unconditionally but come settlement time your circumstances have changed and you are unable to get funds to settle??
Where do you stand legally?Thanks
GrantIf you are unable to settle, and you are not even in the position to move the settlement date, then don’t be expecting any change from your deposit. And depending on subsequent costs to the seller and if they are unable to get the same price that you had offered, then they have every right so sue you for those costs and difference in the sale price.
If you are buying in QLD and finance is still possible to settle at a later date. Don’t assume that the seller will allow you to settle at a later date. The Standard 30 day settlement is pretty rock solid and the seller has the right to cancel the contract , at your expense, if you fail to meet the terms of the contract.
Mal
Getting out of your comfort zone, can help you become comfortable
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