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Leon, Solicitor
Category: Australia Law
Satisfied Customers: 44367
Experience:  BEc Dip Ed, Dip Law (SAB) MTax (UNSW)
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Mt partner, has purchased a unit which is being built. There

Customer Question

Mt partner, has purchased a unit which is being built. There are no subject to on the contract. On advice given when she purchased from selling company based on the figures she gave them she could get a loan with $30,000 deposit. Since then due to changes with lending criteria banks now require $80,000 deposit. My partner cannot get finance and would like to withdraw from the purchase.
She believes the company selling failed to give her the correct credit advice, and she was pushed into signing the agreement.
Any advice would assist
Submitted: 1 year ago.
Category: Australia Law
Expert:  Leon replied 1 year ago.

Good Evening.

My name is ***** ***** I am a NSW Solicitor. Thank you for your question, and will do my best to assist you with your question. Please understand this is not legal advise Please understand this is not legal advise but a guide to assist you.

The company cannot be held liable for changes in lending criteria.

If at the time she entered into the contract what she was told by the vendor was correct they have done nothing wrong.

Did she have a solicitor act for her in the exchange?

Does she have the condition about the loan and the advise in writing?

Customer: replied 1 year ago.
She had no solicitor at the time . There is no advice in writing. Can she sell the property on to someone else
Expert:  Leon replied 1 year ago.

Good Morning.

She can on sell but needs to check the contract to make sure that she complies with the it.

She may have to use the same agent.

But she can sell it to another party

I hope this makes sense and is of assistance, If there is nothing further

thank you for using my services.

If I have missed anything, or you have any further questions please let me know

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