All Topics / Legal & Accounting / Agent won’t release deposit

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  • Profile photo of Hux001Hux001
    Member
    @hux001
    Join Date: 2003
    Post Count: 108

    Auctioned house on 7 September and was sold. Purchaser paid 10% deposit to agent, we then sent a Section 27 to get deposit released. Purchasers solicitor sat on it claiming they couldn’t contact their client. After 28 days a letter was sent to them and agent to release deposit as is allowed under law as far as I know.

    Solicitor has told our agent not to release deposit as they still cannot contact their client (the purchaser) so we can’t get the deposit and settlement is due next Monday. Does anyone know for sure our legal right to the deposit? The purchaser had been away but is now back (I spoke to him on Friday) yet still hasn’t contacted his solicitor. What do we do ??

    Profile photo of TerrywTerryw
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    @terryw
    Join Date: 2001
    Post Count: 16,190

    What state?

    I have discussions with a good solicitor in VIC about releasing deposits a few years ago and she declared it was impossible.

    Terryw
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    Profile photo of Hux001Hux001
    Member
    @hux001
    Join Date: 2003
    Post Count: 108

    It’s in Victoria Terry.

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