Browse Forums Home Finance Re: Agent fails to get 10% Deposit 4Aug 09, 2010 12:39 pm Let me see if I understand this correctly. 1) The agent sold your house 2) You got 90% of the price If so, the agent is in big trouble. I would start making demands such 20% interest rate, reporting him to the regulatory authorities and whatever else you can think of. Demolition August 2009, Construction Started September 2009, Completed December 2010 Re: Agent fails to get 10% Deposit 5Aug 09, 2010 1:41 pm Casa2 Let me see if I understand this correctly. 1) The agent sold your house 2) You got 90% of the price If so, the agent is in big trouble. I would start making demands such 20% interest rate, reporting him to the regulatory authorities and whatever else you can think of. Almost Correct, The agent sold the house for $707000. Took a $500 holding deposit. The sale falls over at settlement due to finance. The Agent fad failed to Coleect the $70000 (10%) deposit that he told us he had, and put a letter in writing to my solictor to say that he had the Deposit & all was fine. Then when the Sale fell over & i went to see the agent about the 10% deposit that we were entitled to, it turns out the agent forgot to collect it. He said that he thought i had the deposit. Im the bloody vendor, why would i have the Deposit. ERR Goodone Re: Agent fails to get 10% Deposit 6Aug 09, 2010 7:16 pm It looks to me like you would have a very strong case against the agent, in particular if you have something in writing from him or via email confirming he has the deposit. As mentioned above, see a solicitor ASAP! Re: Agent fails to get 10% Deposit 7Aug 09, 2010 7:31 pm packrow Casa2 Let me see if I understand this correctly. 1) The agent sold your house 2) You got 90% of the price If so, the agent is in big trouble. I would start making demands such 20% interest rate, reporting him to the regulatory authorities and whatever else you can think of. Almost Correct, The agent sold the house for $707000. Took a $500 holding deposit. The sale falls over at settlement due to finance. The Agent fad failed to Coleect the $70000 (10%) deposit that he told us he had, and put a letter in writing to my solictor to say that he had the Deposit & all was fine. Then when the Sale fell over & i went to see the agent about the 10% deposit that we were entitled to, it turns out the agent forgot to collect it. He said that he thought i had the deposit. Im the bloody vendor, why would i have the Deposit. ERR Goodone This is what I think has happeend (I'm a cynic). 1) Agent has collected 10% deposit and correctly reported this to you 2) When sale falls through, agent says he didn't collect the deposit 3) Agent pockets your $70,700 ... thenk you very much. Anyway, regardless of what really happend, if the agent has declared in writing that he has collected the 10% deposit then the agent is liable to pay you this. Your solicotor, that recieved the letter from the agent, should be able to confirm if the real estate agent is liable. Bet you he is. Demolition August 2009, Construction Started September 2009, Completed December 2010 Before you rip it up, if you can in the grout lines, drill some holes and pour/inject techgrip by sika. I have used it to bond mdf to timber, but in the process it dripped… 1 4266 Not much in this responce. My suggestion is, what are you looking to build and why. This will all be impacted by the local councils planning scheme. Familiarise yourself… 6 5826 In NSW the maximum deposit for building work is 5% until the builder provides HBCF insurance 1 4787 |