What can you do after vendor cancels S & P Contract

[Lauren69]

You’re right about how this has been handled
They paid 8% deposit.

So far I’ve calculated $5772.00 and that’s not everything yet, then if you add in the 15% Default fee of the balance owed at Settlement $126,000 and the $50,000 deposit we paid for new property, comes to $181772.69....

[Lauren69]

Thanks for your reply
The Vendors Agent has been great, she was actually the one that really pushed for the Vendors to pick us after their first offer fell through earlier this year.
As she was working for the Vendors I don’t think there was much she could have done for us really.
...

[Lauren69]

We had found our dream home and paid deposit; Unfortunately, they canceled Contract after waiting the extra 12 days from default of Settlement

- Please note, our property failed to Settle because the Purchaser Defaulted, and we have started Litigation to recover costs.
As well as...

[Lauren69]

☹️☹️☹️☹️☹️

I’ll catch up with you all tomorrow after I’ve collected myself and after partner his spoken to Litigator

[Lauren69]

Thank you for your words McDuck, and I will try my best to keep upbeat and keep my family well.

But, I feel that today is going to be a hard one ????????????

[Lauren69]

Ok, here goes, so far lol………..

- Front page of S&P - it has
VENDOR NAME
PURCHASER NAME & at the end of that line it has AND/OR NOMINEE, which is circled and Initialed.
* So, does that mean that Name written is only the Nominee or is it the Purchaser?...

[Lauren69]

I’m going through the contract again now and noticing a few more things that I’ve come across in my research and from issues that you have raised I am now questioning a few things.
I will list them up in the next hour or so to seek your guys thoughts on some of them, mainly to see if I’m...

[Lauren69]

Hey guys I appreciate all the input and advice from you all ????

Sorry but I did get the dates wrong as I forgot that there were 2 Mondays that were public holidays, the actual 12th day is Thursday (this week).

I have read and reread our Contract and I can’t see any mention...

[Lauren69]

Hi guys,

A question on On-Selling a property……………..what happens when a property OnSells, when does the Seller get full payment?

[Lauren69]

McDuck,

trying to understand all of this, but I think everything is just blurring my brain.
I’m just starting to feel that we are going to lose everything.
According to estate listing it sold again on Friday, yet we still haven’t heard anything from anyone.

...

[Lauren69]

We received a $50,000 deposit

[Lauren69]

As far as I can tell it’s not nominee.

On Friday we notice our property has sold (again), but as yet haven’t heard anything from any agent.
We are trying to stay positive and hoping that it all settles this time round and that we get paid out so we can still get our dream home....

[Lauren69]

We sold property through real estate agent and have a Contract, signed by purchaser.
Original purchaser then on sold it, then that person on sold it and they’ve on sold it and now it seems that person has put it back on market.

[Lauren69]

Settlement was 12 weeks...

[Lauren69]

Hi Donna
Lawyer issued Notice and they have been given another 12 days to settle. After that we aren’t sure what happens.

One of our biggest questions really is why haven’t we been paid out as it has been On Sold 3 times now....

[Lauren69]

Sold our property and have purchased new property.
Purchaser hasn’t paid on Settlement Day and have been given another 12 days to settle. Meanwhile, we are incurring Penalties on the new property.

our property has been on sold several times since we signed the S&P Contract...