Well, I had my house for sale for the past couple of months and got an offer a few weeks ago. I was happy with the sale price so we had the contract made up.
Now, 1 week before the settlement date no one can get hold of the buyer.
Apparently, as I was told today, he has just defaulted on 2 other properties which were supposed to settle this week, so Im not hoping for too much here.
Im wondering why someone would make these offers without intending to keep them…
The only good thing is he put down a deposit, although my agent had to twist his arm on that, as he didnt want to put any money down at all.
Anyway, no real question here, just puzzled.Also been told that if I sell the house to someone else for less than what he offered, I can sue for the difference.
Hmm, 1 week till settlement, Ill just have to wait and see.
Strange. Maybe he is a graduate of one of those property guru course where they tell people to make multiple offers??
Terryw
Discover Home Loans
Parramatta
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haha yeah, though I doubt he was a graduate.
He should have sat through the whole thing so he knows the next stepHow much deposit did he give you? Just keep it and resell, and sue for the difference.
Terryw
Discover Home Loans
Parramatta
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1k deposit only
So you got $1K, and no signed contract.
Not sure you will even get the 1K, think solicitors and agents may want a piece of that pie.
I always consider that until signed I have nothing
contract was signed and everything was in order for the settlement date, which is today.
I had a call from my agent who said the buyer got in touch with him, and wants to move the settlement date back to Jan 10.
Not much I can do but wait until then.
Still, its sounds a bit more positive than it was a few days beforeOriginally posted by brendon11:contract was signed and everything was in order for the settlement date, which is today.
I had a call from my agent who said the buyer got in touch with him, and wants to move the settlement date back to Jan 10.
Not much I can do but wait until then.
Still, its sounds a bit more positive than it was a few days beforeYou can probably charge him penalty interest for failing to settle by the contract date if you want. It is standard in most sale contracts and the interest rate is quite high as a rule – around 13.5%.
It may be a futile exercise though.Cheers,
Marc.
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