Aug 14, 2020 11:48 pm
We found this sub-divided land in a lovely neighbourhood in Brisbane North.
Signed the contract, had a solicitor and mortgage broker.
From the start the seller says the title by this date and we raised it that to our broker to be made aware of the timings with the approval.
Finance clause says 'Sufficient to Complete' and date was set to 20 Aug. (which reading from this forum , others would say 'subject to finance')
We are chasing 20 Aug only to be known that westpac can't do a full evaluation of the land because it isn't titled. Having said that, we won't be able to secure an unconditional approval.
We raised this to the seller through their solicitor but she wouldn't budge. She was saying that we should be able to get an unconditional and kinda blaming that our broker is inexperienced.
Anyone in this situation that could shed some light? does the clause 'Sufficient to complete' means that we've got the funds already before signing in the contract? This wasn't explained to us by our solicitor so help
Thanks in advance!
Re: Untitled Land - Finance 'Sufficient to Complete'2
Aug 15, 2020 7:52 am
QLD has a cooling off period for houses
A learnt this when I sold a house to a developer. The challenge for you might be time, I believe you have 5 calendar days to change your mind. You will want to confirm this with your solicitor.
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