Apartment Buying Help!

Hi all,

I'm a first time home buyer and just found my dream apartment!

I was happy with everything and signed the contract which originally had a 20 day finance clause and a 45 day settlement period.

I had sent the signed contract to my solicitor assuming they would send on this signed contract to the vendor and their solicitors. A few days later my solicitor informed me that I need to send my signed contract to my sales agent who will then send to vendor which caused a couple of delays.

I eventually sent my contract to the agent who (reluctantly) forwarded onto the vendor. The sales agent have just told me that the vendor will not accept the finance clause due to the delays in getting contracts exchanged. I already have pre-approval and my mortgage broker informed me that my formal approval is ready to go as the banks are doing their final checks.

1) My dilemma is that if the vendor rejects the finance clause – am I at a huge risk and would it be unwise to sign and go ahead unconditional? I have already done other checks such as building and pest inspections. My solicitor has gone over what could happen if I sign unconditional.

2) I am also certain that my loan will be fully approved – will getting my loan denied after pre-approval be probable?

3) Who's responsibility is it really to send my signed contract to the vendor?

Would just like some general advice. I don't want to lose this property as I finally found a suitable one after months of searching.

Thanks

 

Yes for me to live in!

 

Is this Sydney? Finance clauses are less common since you can get a full approval during cooling off period.

 

This is in Melbourne where it's a 3 day cooling off period. Just conscious that it's holiday period too