All Topics / Help Needed! / Caveat Advice

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  • Profile photo of PtafPtaf
    Member
    @ptaf
    Join Date: 2011
    Post Count: 1
    Hi there,

     i listed my house on the 1st april roughly on the 4th april i was approached by…..?? about a customer which would purchase the house at full price on a 90 day contract, at $459,500,00 with a deposit of $91,500. which was not the case,

    It was on paper only ,so they didnt have to pay mortgage insurance … im on morphine, , as i have a serious back injury, they said i had to sign a receipt to say i received this deposit, at the time i said no, as i didnt beleive this was right thing to do ,the real estate agents said i had to as they couldnt because they would have to show proof they received, as where i didnt, if asked by solicitor i was to say i did. to allow sale to go through,i have a carer who is a witness to all of these dealings and she said its not right. but in position i am in at moment not workin no money to pay house i was desperate to sell. ( they knew I was on medication and felt sick and ill and the time they turned up at my house and the pressure was on!!!! )

    What they said was they would pay me $16000 under the table to complete the sale ,so when it came to settle the RE said she had been given $16000 by mr ???? and was to be put in her secret acc.and to give to me on completion. an out of that $7000 would go to the RE for their commission and $9,400,00 to me an i walk away with that, The RE gave me a copy of receipt of $16000 which had been put into her secret account to prove to me i would receive on completion.as i have said im under heavy medication which i beleive they have taken advantage of as i went to their office with contract to get them to explain to me how this was going to work as i owe $382,000 on house ,i thought i owed $380,000 so agreed to pay the $2000 difference, he [mR ?? supposidly gave me a deposit of $91.500.00 which if you take off $459.500 00 leaves $368.000 owing. my question was who was going to pay the difference on completion. as im not ,they said not to worry he will pay. im worrying for nothing .but what he did[ mr ????] was take the $16000 off the RE without my knowledge to complete the deal ,

    My solicitor rang me before settlement an said theres something fishy going on here as why would mr ??? pay the difference when he supposidly gave me a deposit od $91.500. it does not make sense. i told him the whole truth . he said im being conned they will not give you anything its illegal an i should not go through with the deal. i said if i walk away with $9.400 i would do as promised an walk away .he advised me to go to them ask them for the $9400 and if they give it to me , ring him from the RE an he would complete the deal .thats when i found out the RE had given the $16000 back to mr ??? to complete sale, an i would have received nothing so i cancelled sale. i ended up in hospital that day in severe pain over the stress of all of this, my house is now empty as i was about to move, gave my fridge lounge most of my furniture away to friends and the needy,as would not need where i was moving to

    This has made me ill ,i asked the RE why did they do this ,they told me they wrote contract out for 459.500 and deposit $91,500 i had to pay difference ,which is not the case as i may AS WELL GIVE IT AWAY, they didnt care an said its my problem not theirs, i beleive ive been ripped off by RE for sure.. and want compensation from them as what they have done is totally wrong .now i have solicitor fees to pay an solicitor said i should do something about this i have to give him $1500 to start proceedings which im broke and cannot do, at this stage i need legal help an advice please.this cannot be right what they have done to me.also i have received the new land valution for my property which is $370.000 so he wAS GETTING A BARGAIN ,,,,,,,,,,,,,,,I hope this makes sense please call me or email at this email address or on PLEASE ANY ADVISE OUT THERE WHAT I CAN DO PLEASE HELP, as i was given a Caveat served on me today thanks everyone

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

    What a mess! The caveat is the least of your worries.

    You have to be very careful as you have probably committed a number of criminal offences. You could be charged with money laundering offences or fraud offences. eg s193C Crimes Act, 2 years imprisonment.

    You real estate agent could be charged as well. They would lose their licence if found guilty and possibly even if they get off.

    Now the caveat issue. He has a contract with you to purchase the house. He therefore has a right to lodge a caveat. I cannot follow what you have written It could be that you are able to terminate the contract because of the coercion, and that would mean the caveat could be withdrawn and you could resell etc. But you would need to talk to a solicitor about that. You should try legal aid or one of the free legal advice lines.

    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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