Change offer vailidity period after signing contract

Discussion in 'Legal Issues' started by kanad, 1st Apr, 2019.

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  1. kanad

    kanad Well-Known Member

    Joined:
    15th Nov, 2015
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    Location:
    VIC
    I signed a contract for sale for a finished but legally off the plan townhouse on Saturday as it still hasn't been titled. It got the occupancy permit on Friday although I haven't seen it yet. I asked a few variations to the contract like changing from 18 months to 2 months for the title to be registered etc. The agent changed and made me sign initials for each change.

    But today I noticed he has sneakily change the offer validity from default 3 business days to 10 and didn't make me initial this so it missed my eyes. I have paid $1000 deposit and it says 10% deposit to be paid by 05/04 i.e. Friday. This makes me angry and puts me in a bind as I can't put any offer for other properties I like this coming weekend. Also I am reluctant to pay buyer 10% while he still got one more week to accept the offer. Is there still a way to change the offer validity period to 3 days?

    I don't have a solicitor yet but going to contact some today.

    I don't have subject to finance clause either. I will threat to pull off within the 3 business days cooling off period starting today otherwise as I think I have paid close to top for this property anyway and quite a few in that area were passed in last weekend.
     
  2. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    You are going about this wrong. first you get your solicitor to review the contract and make any changes. Then you enter it. This is then an offer until the other side accepts it.

    There should be a cooling off period so you can pull out and reenter, or threaten to pull out if changes are not made.
     
    kierank and Sackie like this.

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