Sales Deed

Discussion in 'The Buying & Selling Process' started by Fon, 8th May, 2020.

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  1. Fon

    Fon Member

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    We purchased a vacant land few months ago and still awaiting the other party to complete the formalities of sales deed and it seems they are not responsive or have not completed the formalities from their end , was wondering what are the ramification if the other party fail to respond and how important is the sale deed to complete formalities of sale transaction, though land title transfer formalities has been completed

    would appreciate your advice,cheers
     
  2. Terry_w

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

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    What do you mean by sales deed? Have you signed a contract? And has the other side?
     
  3. Fon

    Fon Member

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    Re-sale deed which needs to be executed after land resale by both the parties and a copy sent to estate/developer.
     
  4. Terry_w

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

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    Never heard of that..

    Are you trying to resell before settlement?

    What does your solicitor say?
     
  5. Fon

    Fon Member

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    Thanks for the response.

    I am the purchaser, seller purchased a block of land from new estate, and after the land was titled, he sold it in open market which i purchased and sales contract was executed and title has been transfered to our name after settlement . Seller has to execute a resale deed with both the parties and notify(copy of resale deed) the developer/estate about the new owner of the land. Which so far the seller has not responded,
     
  6. Archaon

    Archaon Well-Known Member

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    Did you engage a conveyancer or property lawyer for the purchase?
     
  7. Scott No Mates

    Scott No Mates Well-Known Member

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    Did they use an agent?

    That's the end of the story, it has settled & your name is on the title.
     
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  8. Fon

    Fon Member

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    Conveyancer was used and settlement was completed,re-sale deed is also part of overall transfer and seller not responding to conveyancer's communication to finalize the deed execution.

    Doesn't re-sales deed holds any importance when property title transfer has been completed?
     
  9. Terry_w

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

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    what is being resold if settlement has happened?
     
  10. Archaon

    Archaon Well-Known Member

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    Is the title unencumbered or are there caveats on it?

    Sounds like you need to get legal advice from a property lawyer.