Hello PI,
I am new to property investing and have bought a couple of apartments off the plan at Casurina with deposit bonds advised from a friend. The combined total of the loans is over 1.5 milliion $$$.
Unfortunately I am not in a situation to uphold the settlement which is going ahead at the end of July. Can anybody suggest what action I can take without it costing too much money for renigging on the apartments/settlement.Thanks in advance.
Brad
I would suggest faking your own death. Either that or seek professional legal and/or accounting advice As Soon As Possible! This is not a situation that should be handled by anonymous strangers on the internet.
Best wishes, F.[cowboy2]
Speak to a solicitor. You may be able to get out of the contract. If not you will be sued for the 10% deposit and possibly more.
Terryw
Discover Home Loans
Parramatta
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Hang on, maybe the units are worth more than you purcahsed them for? In that case you can possibly sell before settlement.
Terryw
Discover Home Loans
Parramatta
[email protected]
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Just send me a blank email, with “subscribe†in subject line.Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
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