Wannado,

If you exchanged on the contract, and the buyer signed as well, then any penalties outlined in the contract will fall due by them (and that's regardless of whether or nor you're holding the deposit).

I suggest that you get on the phone to your solicitor (or better still, send through in writing) and request an update on the sale and how/when you'll get the deposit, and what penalties will be applied.  You can also engage your real estate agent (assuming you have one) to chase up the buyers solicitors and the buyer to clear the picture up for you a bit.

Good luck with it all!

http://stagedhomes.com.au/

I've not personally used their services, but I have only heard good things!

MissMolly – I'm with sonyasal on this one!  International students are a great idea.  I had a friend who rented out 3 rooms of his 4 room house as 'home stay'.  He just needed to provide breakfast and dinner each day…..and I did the english tutoring so it was loads of fun!

That is of course assuming that you're in an area with high demand for student accomodation. 

Holiday rentals could be another thing – not ideal but you would just need to bunk down somewhere during the 'holiday season'…again this depends on the area you're in.

There are also a couple of financial guru's on this site.  Perhaps you could begin your own thread asking them for advice on your situation – can't hurt!

In the meantime, try to get through and don't give up!

It will essentially come down to the contract that they have signed.  Take a look at the clauses that deal with delays or exits.  Assuming that they signed it (and it was all legit), then surely you would have legal rights.  Are you using a solicitor for the sale?

In all honesty, forget the opinions – go straight to your solicitor!

I would go into their office straight away and speak to them.  I must admit that I put a clause in my last contract saying that within the first 3 months I could break the contract with 3 days notice.  There have been a couple of small issues – but nothing major – I've resolved them all with them directly and quickly.

$1000 seems to be the standard amount that is held back – and you get back what they don't spend.  I can't tell you what is supposed to happen – but when I purchased a property (in Vic), at the final inspection (the day before settlement), I found out that there were holes in the walls, and stains on the carpets that were very well concealed.   My lawyer told me that because I'd exchanged on the property when it was in that state, I had very little option but to suck it up! 

Don't rely on the advice of your agent – pick up the phone and speak to your solicitor!

They suggest that you use a particular software from memory.  Give the office a call, or send through an email and they will help you out.

Washington Brown have an online calculator that should give you a good indication.

http://depreciationschedule.washingtonbrown.com.au/depreciation-schedule-quote/

Hi,

Yesterday I opened a HSBC US Checking Account.  All I needed was to take in my drivers licence, my passport, a recent bank statement, the filled in forms and $200 into my local branch.

This will give me the US Checking account, a Debit Mastercard (which they will send from the US) and access to online banking.   To deposit any US cheques and not get hit the big fee and conversion, then the cheques need to be deposited within the US.  

Please don't consider this as advice.

Citibank isn't going to the solution for me – so I'm checking out HSBC.

Citibank only offers a 'Multi Currency' account which means that it's an Autralian Account, held in US dollars.  This presents the same limitations as using an everday Australian account (US cheques are deposited at a hefty fee, and take 21 days to clear).

If anyone has found a way that works – please let us all know!

Thanks,
Amanda.