All Topics / Legal & Accounting / Buying property in QLD and question about contract

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  • Profile photo of eterniteternit
    Member
    @eternit
    Join Date: 2007
    Post Count: 26
    September 2, 2007 - 7:57 am

    Hi,

    I am buying a property in QLD and my contract is currently unconditional. The settlement of my contract is late October but in the contract it says that I need to pay 5000$ by September 31st. Now because there is no September 31st, rightfully am I able to pay it on settlement?

    Thanks.

    Profile photo of Jon ChownJon Chown
    Member
    @jon-chown
    Join Date: 2007
    Post Count: 254
    September 2, 2007 - 8:37 am

    Hi Eternit,

    While it is an obvious mistake on behalf of the agent (or who ever typed the contract), I don't believe that it gives you the right to pay at settlement.   I am assuming that this $5,000 is the balance of deposit for the contract and the agents duty if it is not paid on time is to get the permission from the seller to accept it.  This acceptance, if given, must be in writing.   The Seller has the right to decline the payment and recind the contract on breach of conditions.

    You should check with your Solicitor to make sure of your contractual obligations.

    Jon

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