As it is a storm lashed day over here in sunny Perth I shall share a tale of woe with any one who is interested. I did post on this months ago, but now just like to share the end result.
I put an offer on a luxury unit here in sunny Mandurah in March this year. My offer was subject to a previous offer becoming null and void. The previous was an anquaintence of mine, a local doctor, whom I found out the same night was no longer interested due to finance being ‘tight’. The next day the agent said she had a letter from his bank saying he could not get finance ‘so really we needn’t have bothered putting the “previous offer” on the contract’. OK, offer went through, finance came through, card with bottle of wine came from agent with ‘congratulations on finance’, letter from resort to new owner wondering if I would like to contribute to cost of holidy brochure. then a few days later came the agent: I couldn’t have the unit as previous offer people had come in with finance. I pointed out the previous offer was known to me and he was now looking elsewhere? Oh, no a previous previous offer came first. Long story. first offer people who did exist had an offer on in November and finance was due in December (2nd) Now March? (They did not have any extensions to offer) Went to lawyer who said this can’t be done let’s put a caveat on and watch the ‘shit hit the fan’ (his words) One thousand dollars later, I was asked to go to court to prove why I put a caveat on, and any delays now on settlement because of my actions will cost me thousands of dollars. Lawyers advice if I can’t afford all this? Send complaint to REBA. Did this. They say agent has done no wrong in their eyes perhaps I should get my lawyer to explain why people with offer in November have right to the unit!! Yesterday lawyer sent me a bill for another $800.00 dollars, mostly for lifting the caveat. I have sent it back saying ‘sue me’! My unit? seven months later now for sale at 150.000
more than when I bought it.
Yes, that’s me in the corner.
cheers [
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Lesson? If a lawyer tells you you have a case, get them to put it in writing. Or better still see if they will take the case pro bono for a percent of the winnings at the end. []Hi Pat
Sorry to hear of what happened to you. From your post, it sounds like you had a dodgy clause in your contract that the agent and half the people in Mandurah and their dogs could drive a truck through side by side.
I hear a lot of stories about people in your position. And you know what all of you have in common? A dodgy clause with loopholes galore.
If the agent drafted the clause for you, I suggest that you complain to the Legal Practice Board, on the basis that she was providing legal services without proper qualifications. Even worse, she was duty bound to act in the interests of the vendor, not you, and was therefore under a serious conflict of interest. I don’t know if you’ll ever get any compensation, but it’ll teach her to play bush lawyer and hopefully she won’t stuff up someone else’s contract next time.
If you drafted the clause yourself – maybe that’s the lesson. Hire the lawyer at the beginning. If the lawyer stuffed up, at least you could have a claim against the lawyer for negligence.
But the most important thing is – don’t let this discourage you from investing!
Cheers
MWho was the agent if you don’t mind naming names? I live and invest in Mandurah and would love to add them to my ‘steer clear of’ list.
Great storm wasn’t it? I was silly enough to try and play golf Sunday morning.
Thanks,
BrettElysium,
The agent was actually selling for the principasl of agency who had bought several of these units! Yes the agent wrote up the contract, and thelawyer obviously needs to go back to law school. I am pretty sure I can sue, but who has the money to do that!Brett, not sure I want to divulge ‘on air’ If you want to email me perhaps we can meet up, and then I’ll tell all. Perhaps also we can share some ideas. (that means I could pick your brains.)
Cheers, Trish
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