I recently purchased 2 mortgagee sales in NSW, they are via private treaty. the offers were accepted by the trustees, and have left .25% deposit.
i have dont all valuations strata reports and ready to exchange, i got a call from agent on saturday and he said that the trustee has put review on deal. can this happen? i am very P*55ED OFF, because im out of pocket by 2 grand in fees, and the deal not going through. i am worried about the agent guzzumping me.
Interesting!!! Can't happen in SA I don't know NSW real estate law enough to comment.
I would be P*55ED OFF too!!!!G’day,
As I understand it in NSW, unless you have exchanged, anything can happen.
Ring up the REINSW and have a chat with someone to confirm.
Perhaps in the future have a clause in the contract that if the purchaser fails to exchange then your costs can be reimbursed.
Please let us know how you get on!
Bye,
Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Hello Nathan,
NSW real estate law bites. I'm no expert but from conversations I myself have had with the Office of Fair Trading it sounds to me as though the seller is entirely in their rights (legally, not necessarily morally).
By all means follow up with REINSW and the Office of Fair Trading and also check out this NSW Office of Fair Trading info page: http://www.fairtrading.nsw.gov.au/realestaterenting/buyingselling/buying.html
Best of luck,
Art
You must be logged in to reply to this topic. If you don't have an account, you can register here.
