19
Feb
09

What A Day

Some background, the house next to my two was sold at a mortgagee’s auction. I approached both the agent and the buyer pointing out I had the next two properties along making a nice big block of just over 3,000m2 with all three.

An offer was made and accepted and considering the nature of the offer a 5% deposit and six month settlement was agreed to. As one property was tenanted a verbal agreement was made they could stay on. Settlement is tomorrow and now they want vacant possession, so the tenanted property won’t settle.

With my savings and a loan from Mum and Dad my purchase won’t fall through. However I’m not happy with the purchaser or the agent (who has now left that firm). The only contact from the agent was a phone call after I’d been informed of the problem, they will be getting a letter. As will the agent’s for the property I’m purchasing from, the two will be at opposite ends of the spectrum I’m sure you know who’ll get what.

Mind you my paranoid bump is itching.

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4 Responses to “What A Day”


  1. February 19, 2009 at 11:22 am

    Does that mean that the deal may still fall through or only part of it? How long does the lease on the tenanted house last for?

  2. 2 bangarrr
    February 19, 2009 at 11:37 am

    The good part is the property in dispute is in the middle. So they have to buy it. If 239 fails it falls on them and I may as well. To say I’m angry about this is an understatement. The agent was meant to act for me and hasn’t, the purchaser has had more than sufficient time to renege on the tenant’s deal, it was a six month settlement at their request.

  3. 4 bangarrr
    February 23, 2009 at 7:49 am

    Naut,clowns are funny. These guys are incompetent on one side and on the other without honour.


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