General contract terms conditions purchase Brisbane

Discussion in 'The Buying & Selling Process' started by couq, 4th May, 2021.

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  1. couq

    couq Well-Known Member

    Joined:
    19th Sep, 2016
    Posts:
    280
    Location:
    Melbourne, Australia
    Good morning,

    What are the general purchase in Brisbane?

    Would it be
    30 day settle
    10 percent deposit
    7 day B&P
    14 days Finance?

    These I think would be similar to Melbourne and Sydney (I think Sydney is 45 days settement)
     
    couq, 4th May, 2021
    #1
  2. couq

    couq Well-Known Member

    Joined:
    19th Sep, 2016
    Posts:
    280
    Location:
    Melbourne, Australia
    Also I have heard that vendors can walk away without needing to settle if buyers cannot settle on time in Brisbane. Has this ever happened?
     
    couq, 4th May, 2021
    #2
  3. Mulianto

    Mulianto ~~

    Joined:
    4th May, 2017
    Posts:
    1,161
    Location:
    Indonesia
    Yes if the price has risen since signing the contract. If the price has dropped, the vendor might sue you for compensation. In summary, any party that do not fulfill their obligation will be at loss
     
    Mulianto, 4th May, 2021
    #3