Land settlement HELP!

Hi, in need of SERIOUS ADVICE AND HELP! It's a long story... March 2019, I was working full-time, pregnant with my first child and ended up in a major car accident. I was told recovery is generally 3-6 months. Ended up on tac and then mat leave and back on tac. My son was born in July and I was supposed to return to work in October 2019. Didn't work out that way as my injuries were worse than originally thought.

After giving birth to my son July 2019, my husband and I put a $10,000 deposit on a block of land which was to settle June 2020. Everything was fine, as I was supposed to return to work in October as I mentioned before. October came around and I couldn't go back to work. Fast forward to April 2020, still on tac as my injuries are severe. My husband has spoken to brokers and banks and is unable to get the loan himself. They will not accept my tac. We can't settle the block. We contacted our conveyancer and they sent an email explaining our situation to the vendors solicitor hoping for compassionate grounds to get our deposit back. No response yet. It's been a good few weeks now. Still waiting. I've been in touch with our conveyancer because settlement is due on the 25th of May. We need to know our options. All that's been said is, we are waiting for the vendors decision. From there we can try extend the settlement date, but we can't get finance so not sure what that would do. She said we could try and put our deposit on another block to give us more time, but my specialists and docs don't think I'll be back at work anytime soon. She mentioned finding a nominee, but with so little time and the fact we're waiting for a response for the compassionate grounds, do we start that process? And lastly she said if we are unable to settle we will lose our deposit, have to pay fees and can get sued.

Emotionally, mentally and physically I am a mess. I'm trying to do what I can to sort this issue out but I now suffer from anxiety and ptsd plus everything else from the accident. We need advice. We don't know what to do. Our conveyancer responds to us, answers all our questions (vaguely), we're so lost and confused. We need help and advice.

If my accident never happened, we wouldn't be in this position.

So sorry for the long story.

 

You need a solicitor, not a conveyancer.
You have signed a legal contract, and any resolution will be via legal channels.

 

Why haven't you friend to sell it before now. You have less than a week before settlement.

See a lawyer and find out if the contract is defective in some way as you might be able to terminate on these grounds.

 

Thanks, trying to source one asap.

 

I had specialist appointments early in the year, and was hoping I'd be able to go back into my preaccident job. Once we were told I wasn't able to, we got in contact with the conveyancer and the land developer to try and fix the situation.

 

sorry autocorrect "Why haven't you friend to sell it before now" should be "Why haven't you tired to sell it before now.

Prepare to lose your deposit, and possibly more, while trying your best to avoid it.

 

No worries, I understood what you meant! Currently speaking to our land sales rep, our concenyancer and lawyers! Also, trying to find a nominee.

 

frig i did it again = tired should be tried!

 

I am tried of the number of times you tired and tryed

 

Definitely need some light humour, with everything going on!

 

On a more positive note, spoke to several lawyers who gave plenty of advice and discussed further what will happen if we can't settle. Not the best news, but majority of them said, being sued for damages is unlikely...not impossible.

Still waiting for a response from the vendor if compassionate grounds can be used to exit the contract. Seems unlikely... Plus settlement is apparently in a week or two. Also looking for a nominee.

Only time will tell the outcome.

 

Just received the best news. Our request was approved. Our contract is being rescinded and we are getting our deposit.

We couldn't have asked for a better outcome.

For anyone who may fall into this situation I recommend having documentation to support your request. I sent through all medicals and certificates!!

Thank you to those who responded!

 

Pleased you got a good outcome.
Now review all that occurred and see if there are lessons to be learned from this experience.