Well, here’s something I’ve never had happen before.
The purchaser just didn’t bother to apply for finance. Now the clause in teh contract says “The buyer shall make an application to at least one lender using, if required byt he lender, the property as security…..” etc.
So now what, I guess I get to keep to keep the deposit, however the deposit was supposed to be the FHOG whihc they also didn’t bother to apply for.
Nw, I kow at this stage it’s easier to just let it go and readveritse but I feel that these people need to be taught a lesson as a lot of time was spent on this offer with this couple. What reasonalby cheap options do I have for pursuing this.
And yes, I’ve learnt the lesson of getting some sort of deposit up front in future.
Regards
PKWas it subject to finance etc..”offer” them finance at 10%
)Sounds strange PK ?
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorHi Redwing,
Interesting concept. In fact I like it. Perhaps normally I would follow your suggestion as it’s quite brilliant actually, but as I have to remind them for the rent every month I have no intention of chasing mortgage repayments for the next 25 years. This is a case of the tenant wanting to purchase the house. (Or I think they want to purchase the house).
And yes, it is strange and getting stranger by the minute as she rang yesterday all apologetic saying she still wanted it and would get into the finance office that day as she doesn’t want to lose the house etc. So I’ve given then an extension to get finance and got my broker to ring her.
I’m starting to wonder if they can in fact buy the house or if they are “just dreaming”. Time will tell, nothing to lose really, it’s just strange, I’ve never had anything like this happen before.
PK
PK,
time to get that Wrap Kit, hey?! [grin]
just click on the link in green,[dead2]Cheers
C@34Our greatest weakness lies in giving up. The most certain way to succeed is to always try something one more time.
– Thomas EdisonSorry, but I thought that unless it ‘states subject to finance’, that they are obliged to attempt to get finance!
I mean it doesn’t really matter except that you are no longer bound by the O&A or contract.
Theoretically you could say that you have another offer on the place and you are in negotiations for more money, so if they still want it they need to come to the table by date XYZ with the money. Boom -boom.
You can then procede with, what I understand to be a lesser hassle – advertsing the IP for resale.Either you shake them up enough to pull their beloved finger out or you sell to another party = win/win for you. If you act as if they hadn’t signed the O&A, you’d have to do this anyway.
Just a thought.
Cheers
C@34Our greatest weakness lies in giving up. The most certain way to succeed is to always try something one more time.
– Thomas Edison
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