Buyer making up issues pre-settlement

Am selling a property in Bendigo that is/was the family home, and the buyers who are moving up from Melbourne have started kicking up a fuss over nothing.
Was wondering what my recourse/best course of action is?

They just had a pre-settlement inspection last Saturday (and are meant to settle this coming Monday), but they are saying now that the aircon isn't working as they tested it in the pre-settlement inspection.
It works fine, just takes a few minutes to get going. REA said they turned it on after fiddling with it a bit and left seemingly happy with the property (but I know it would not have gotten properly blowing in that short amount of time)

We said they can send a technician to check the aircon if they like, and the purchasers son came with the tradie a couple days ago totally unannounced, and pretended to be one of them! They didn't even turn it on, just looked at the whole set-up, up in roof etc. Now the technician has come back and said it isn't working at all, and needs to be fully replaced. The air con is on right now as I type this. The buyer now wants to withhold $5,000 from the settlement.

What's my best course of action here? My conveyancer is not very helpful. Do I just say "this was not mentioned anywhere as a term, you've waived your right to B&P, it's as is from your last inspection. Settlement is to proceed as planned without withholding".
Can they withhold funds without my consent? I don't think I can have another tradie come in time to look at it before settlement.

 

In NSW, you buy a property with general wear and tear. Buyer cant make a fuss about it.

Conveyancer and real estate agent should deal with this type of matter. With property transactions it is worth engaging Solicitor over Conveyancer. I noticed that conveyance run the sausage factory, they don't care provided anything extra. Contract come in and settle. Anything in between they don't entertain.

 

Bendigo is up 30% for the year, right...... what are the consequences if you can't come to an agreement. Who loses more?
What does the agent say? In Qld they are much more involved in the process.

 

You could call their bluff and see what they say

 

I think your conveyancer is saying they can't withhold funds, the settlement will proceed. Call their bluff.

If they refuse to settle, then you start by charging them penality interest and ultimately withdraw from the contract, keeping their deposit whilst you sell the property to someone else.

 

$5k for a 2-3k aircon + install? Tell them to pull the other one

 

In this case you are probably in a stronger position than them. They are buying a property to move in to, if you call their bluff then they have nowhere to go. If it is all working well then stand your ground, charge them penalty interest and if it falls through sell the property for 15% more in 6 months.

 

call their bluff and tell them you have a $20k higher offer and are considering taking that and you are welcome to pull out

 

Tell them your legal team has informed you that if they refuse to settle they will be taken to court where they will lose their deposit, be charged interest and all other associated costs and you'll have the right to sell to another buyer.

Watch them quake.