All Topics / Help Needed! / HELP ! Please !! Vendor disappear at the exchange date !!! what to do?

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  • Profile photo of Coogee126Coogee126
    Participant
    @coogee126
    Join Date: 2009
    Post Count: 51

    Hello Everyone, need your advise! Thanks a lot in advance!

     

    Last Friday:  Real estate agent advised me vendor had accepted my offer.

    This Monday: Contract faxed to my solicitor .

    This Tuesday: Contract amended on some minor clauses.Both partied agreed, And We signed the contract, fax to vendor solicitor, Vendor signed the contract too, and faxed to my solicitor. And both solicitors had agreed to exchange contract on Wednesday.

     

    From Wednesday till now, Vendor’s and solicitor is out of touch and not returning our calls.

     

    I want to know:

     

    Can I sign on the contract where the vendor had signed and fax to them and enforce the sale?

     

    I had purchased before, what I did before was me and the vendor both signed contract and fax through to each other's solicitor, then the cooling off period starts as long as both party signed on the same contract. . .. in this case, I already have the signed contract from vendor, can I just signed it anyways and fax through and make the sale go through?  I used a different lawyer this time, she said we both signed respectively, then exchange the next day. Which we think it’s fine. But didn’t expect this happening.

     

    What is my options now? My 10% deposit was paid to my solicitor, but not to the vendor as yet.

     

    Waiting for your advise…

    Profile photo of IP FreelyIP Freely
    Member
    @ip-freely
    Join Date: 2008
    Post Count: 353

    If you have a signed contract from the vendor (I wouldn't sign a contract before the buyer signed) then you can rely on this contract for signing and submitting for exchange.

    If the solicitor and vendor have gone to ground it would be strange but there may be some logical reasons behind it – just don't agree to release the deposit to the vendor.

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213

    A contract for the sale of land is not enforceable unless it is exchanged. ie  you must have a contract with their signature on it. But I am not sure if you can enforce it using a faxed copy.

    Best to ask your solicitor.

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

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