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In limbo.. unconditional or not?

Discussion in 'The Buying & Selling Process' started by montoya, 26th Sep, 2015.

  1. montoya

    montoya Well-Known Member

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    Friday just gone was our P&B end date. We notified our solicitor what we wanted rectified or how much we wanted deducted off the purchase price in lieu of repairs, and then supplied a secondary figure for discount and if this was not accepted then we would rescind under this condition. About 3pm I was getting a bit angsty about not hearing back, so I called and was told the vendor's solicitor was still awaiting instructions from the vendor. My day at work got busy, then next thing I know its 5.30pm and hadn't heard back from anyone via e-mail or phone.

    Has this happened to anyone before? What is the likely scenario (obviously I'll find out on Monday morning, but would like to know what may be in store..). There's four outcomes I can think of, but I find it strange that our solicitor would not have contacted us to let us know what happened...

    a) it has become unconditional at the original contract purchase price - we're stuck with the repairs needed
    b) an extension for P&B clause has been sought and granted to sort this out
    c) no agreement was reached and the solicitor has rescinded the contract
    d) repairs will be made by vendor or the purchase price will be discounted as per original request.
     
  2. Terry_w

    Terry_w Solicitor, Finance Broker, CTA Business Member

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    If your solicitor didn't notify them then you are probably unconditional.
     
  3. Samten

    Samten Well-Known Member

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    If your solicitor hadn't heard back prior to cob on Friday he/she should have rescinded.
    But you are right any one of your four scenarios is possible.
    Hope it works out OK for you.
     
    Leo2413 likes this.
  4. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

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    I assume this was done in writing?

    Cheers

    Jamie
     
  5. montoya

    montoya Well-Known Member

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    Most certainly in writing. Seems like Monday morning will be an interesting conversation with parties involved.

    On the chance it's gone unconditional there will be some very colourful language being used over the phone indeed.
     
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  6. Bran

    Bran Well-Known Member

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    Can't be unconditional while there are conditions on it.
     
  7. Kael

    Kael Well-Known Member

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    I always get worried when I see something like "repairs will be made by vendor". If the vendor doesn't care, wouldn't they just go for the cheapest repair option that could be detrimental to the property?

    Best of luck on Monday - hope it all works out how you want it to.