PropertyInvesting.com | BGV | Activity https://www.propertyinvesting.com/members/bgv/activity/ Activity feed for BGV. Wed, 15 Apr 2026 04:51:12 +0000 https://buddypress.org/?v=2.8.1 en-US 30 hourly 2 c19c712b71434e596e0d2c993c31a424 BGV replied to the topic Vendor refusing to return deposit after finance rejected in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4392036-vendor-refusing-to-return-deposit-after-finance-rejected/page/2/#post-4581271 Tue, 29 Jan 2008 06:31:40 +0000 According to the lawyer as the vendor believes that the buyer has not "acted in good faith," the letter from the bank stating that finance has been rejected does not terminate the contract. Therefore the contract between the buyer and the vendor is still in place and so the deposit does not have to be returned.

]]> cad77fc2a7ef87a936ca5c42102dbc68 BGV replied to the topic Vendor refusing to return deposit after finance rejected in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4392036-vendor-refusing-to-return-deposit-after-finance-rejected/page/2/#post-4581269 Tue, 29 Jan 2008 05:51:16 +0000 I have had a look at the finance clause and it specifies the lender's name (ANZ), as well as the exact amount that was intended to be borrowed, so I don't think that is the problem.The main issue is that the vendor doesn't believe that the buyer tried hard enough to get finance from the bank.

]]> 3560c836fd69c87b499eb02e05759664 BGV replied to the topic Vendor refusing to return deposit after finance rejected in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4392036-vendor-refusing-to-return-deposit-after-finance-rejected/#post-4581267 Tue, 29 Jan 2008 02:38:30 +0000 Just to keep you all updated, my friend has just returned from seeing a lawyer and as it turns out the issue is not over missing the 4pm deadline but rather that the vendor feels that my friend did not act in good faith when seeking financial approval for the purchase of the property. Basically the vendor believes that my my friend did not try…[Read more]

]]> 3be5154977ea2f0e8fbd56d7390aa014 BGV replied to the topic Vendor refusing to return deposit after finance rejected in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4392036-vendor-refusing-to-return-deposit-after-finance-rejected/#post-4581263 Wed, 23 Jan 2008 07:14:53 +0000 Yeah I agree. Since I last posted a response on this topic the vendor has contacted my friends mortgage broker to try and obtain information on her financial background, so I am really not sure what he is up to.

]]> 77c3075eece619e34e5ec67b73da6c3f BGV replied to the topic Vendor refusing to return deposit after finance rejected in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4392036-vendor-refusing-to-return-deposit-after-finance-rejected/#post-4581257 Mon, 21 Jan 2008 07:22:32 +0000 Thanks for the detailed response Linar. So just to clarify, even though the vendor was notified before the deadline that finance was not approved, because the official letter from the bank was not recieved before the 4pm deadline the contract has been breached the deposit does not have to be returned.

]]> 01261339d40cb493b9be75fcef9f6a3e BGV replied to the topic Vendor refusing to return deposit after finance rejected in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4392036-vendor-refusing-to-return-deposit-after-finance-rejected/#post-4581255 Mon, 21 Jan 2008 06:57:21 +0000 Yeah that is exaclty I am saying, however the seller was notified before the 4.00pm deadline, in fact a couple of days before.I don't know the exact wording but basically it says that if finance is not obtained a letter from the bank must be provided before 4.00pm on the day of the agreed deadline.

]]> 2cae9cb48b51e218f024a24846d237ca BGV replied to the topic Vendor refusing to return deposit after finance rejected in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4392036-vendor-refusing-to-return-deposit-after-finance-rejected/#post-4581252 Mon, 21 Jan 2008 03:11:48 +0000 Yeah, I really feel bad for her, not a great situation to be in. My friend did not have a conveyancing solicitor involved, everything was done through the estate agent. The agent did call my friend at 4.15pm on the day of the deadline to let her know that she had to provide them with a letter stating that she had been refused finance otherwise she…[Read more]

]]> 6715ab7e461199a8f8278ba387a7bee8 BGV replied to the topic investing in property development in the forum No Subject https://www.propertyinvesting.com/topic/4385156-investing-in-property-development/#post-4545835 Mon, 24 Apr 2006 03:47:38 +0000 Thanks to all of you for you feedback, much appreciated. I am meeting the developer onsite tomorrow and I will be sure to let you all know how it goes.

Thanks again

BGV

]]> 712b0d2da27e5eabe41a91bac4e2a765 BGV replied to the topic Subdividing in Perth in the forum Help Needed! https://www.propertyinvesting.com/topic/4384131-subdividing-in-perth/#post-4540371 Thu, 02 Feb 2006 15:19:54 +0000 I thought that if you sold your primary place of residence you didn’t have to pay CGT. I could be wrong though.

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