If you have made a written offer and included a 10% deposit cheque, and before the vendor has accepted the offer, the cheque is banked by the agent (by mistake), could this be read as an acceptance of the offer?
Any thoughts?
Chris B
http://www.tradingsecrets.com.auNo, definately not. If this has happened to you contact the agent immediately and find out what’s going on. If there’s any run around from the agent your next call will have to be to a solicitor.
The vendor has to OK the offer, if they haven’t it could take a while to get your money back.In Victoria if the agent holds the chq for more than three days by law they have to bank it weather the offer has been accepted or not . It could just be one of those situations . [drummer]
Hi Chris,
Not quite sure about the acceptance bit, but you can be assured that the money is held in a trust account.
Real estates must bank all monies received into their trust accounts within 24 hours… perhaps this is what has happened through reception or something?
Don’t worry, you will certainly get your money back if there’s a problem or the offer is not accepted. every last cent!
Cheers
Tam
i just bought a property in tassie, and the agent was asking for a deposit with my written offer. I rejected this request and advised them that upon acceptance of the offer by the vendor, then I will send my deposit. not sure about anyone else, but prefer MY funds in MY account rather than funds floating around…..
I wasn’t worried about the safety of my funds, it was just that the agent made an error and took my funds before they were entitled to. I was looking for extra leverage as we were getting close to a deal.
Thanks for all your replies. The agent got out of this one OK as the vendor has now accepted the offer.
I feel the agent did something that was extremely negligent and to deliver a red-faced ‘sorry’ is hardly a deterent for such sloppy behavior in the future.
Chris B
http://www.tradingsecrets.com.auas Rick pointed out, agents have a legal requirement to bank these funds into their trust account. the agent has nothing to be red faced or apologetic about, they were complying with the law. In future you would be better not to hand those funds over – the offer still states the deposit you will provide.
http://www.megainvestments.com.auExtensive list of ‘Off The Plan’ property available for sale in Perth.
John – 0419 198 856
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