Hi guys,
I’ve put in an offer on a property of $420k and had a counter offer by the vendor of $450k – which I’m happy to negotiate around (or worst case even accept).
However, this property is being sold as part of a divorce settlement, and the other partner (who is currently living in the property), has set an unrealistic price of $550k. Reading between the lines, this partner seems to be determined to stretch out/delay the selling process as long as possible.
If I submit an offer of $450k which one partner is happy to accept, legally, can this be enforced? Not sure how to approach these negotiations. I don’t want to spend too much time and effort focusing on this property if it’s likely to drag on for weeks. Any information would be greatly appreciated.
Cheers
Rob
Nope.
One party can't sell the property if both on title. They would need an order from the supreme court or the family court. Even if the other party is not on title she/he could get a caveat and prevent settlement.
These things can drag on for years.
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
up the ante, if they come to the party – great. If not, move on, there will be others.
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