Solicitors not agreeing on how to proceed :(

I sold my house.. contracts exchanged and settlement is soon but an issue has come up with something in the contract and my solicitor and the buyer's solicitor are not in agreeing on how to handle this.

Their solicitor is saying they want something done while mine is saying it's not necessary.

The issue at hand isn't really relevant to this post but Im worried. Can this affect settlement? Whats suppose to happen if they can't agree??

Is it normal for settlements to have these types of problems? This is my first time dealing with buying/selling so I'm not sure if issues come up sometimes..


-Frank

 

Yes.

Your solicitor will send a letter to the other solicitor demanding they complete the contract. If they refuse further action can be taken.

No, not normal. But it is more likely when you get solicitors involved (in my experience).

 

Price adjustment. Sue for specific performance. Loss of deposit. Depends on who is picking fault.

More info would be useful

 

Ask your lawyer what the specific issue is, and allow you to make the call on taking the risk on or not of doing what the other side wants.

Quite normal for minor items to be negotiated prior to settlement.

 

Which state is the property in?
Which side are you?
what is the issue?

 

@Frank Manno says he is the seller. The buyers solicitor has an issue.

The problem is that Franks solicitor and the buyers solicitor can't reach agreement on how the issue can be resolved.

@Frank Manno has not said what state the property is located in.

Pretty much if the buyer refuses to settle they will be in breach of contract. What are the remedies for breach of contract?

 

State is NSW..


-Frank

 

I am not a solicitor so this is not legal advice, it is a lay person opinion. These are the options I see:

1. You can go against your solicitors advice and rectify the issue so settlement can proceed

2. You can instruct your solicitor to write to the vendors solicitor advising that the issue will not be rectified and requesting the buyer proceed to settlement

3. Wait until the contract settlement date then if the buyer does not settle instruct your solicitor to take legal action against the buyer

@Terry_w will probably correct me.

 

You don't say what the issue is so hard to say.

Purchase refuses to settle
you issue notice to complete
they don't settle
you keep deposit
they threaten court action to get deposit back
you pay $20,000 in legal fees before getting to court

 

And this is why you should always use a solicitor when selling your property

@Terry_w does raise a good point though, if this was to cost $20,000 before you get to court, would it be worth it? Or would you be better off just rectifying the issue?

At this point it's not about who is right and who is wrong, it's about the easiest way to get the deal done.

 

For what it's worth, this is what I would do:

1. Instruct your solicitor to issue the buyers solicitor with a notice to complete. Hopefully they will back down.

2. If not, fix the issue (if it is minor)

3. If settlement fails, refund the deposit or go to court. Hopefully it won't get to this.

I have had an issue when selling a property where the buyer invoked certain rights under the contract and I (as the seller) did not agree any issues needed to be rectified. I found this simple to resolve as no solicitors were involved in the transaction.

You have solicitors so it will be more complex to resolve but it is resolveable.

 

Like he says....depends what it is.

If seller has no errors in contract or other issues, then you notify to complete, if they fail without grounds, keep depoisit and i would call bluff on court......would represent myself if they brought action.

 

OK, what exactly is this issue that apparently needs to be "fixed"? It'll be much easier for us to throw ideas around if we know what it is...

 

Why let the facts cloud the thread based on conjecture?

 

LOL @Scott No Mates, Exactly !

 

Probably not unusual for solicitors to disagree.

Even high court judges can't agree, that is why there are 7 on the panel. And a decision is rarely unanimous.

You have engaged a solicitor, so probably best to follow his/her advice. But maybe discuss conceding if the issue is minor. Another consideration is how easy or hard it will be to find another buyer.
Marg

 

So, what happened? Any resolution?