We sold our house 3 weeks ago at Auction. The deposit, unknown to us, was not paid. We were informed a few days later the buyer was pulling out despite a signed contract. We served a default notice 14 days ago and the buyer has disappeared.Did our agent break our contract by not getting a deposit cheque at auction? Should we hunt the buyer down? Is it worth the cost and stress of suing for the deposit? Our conveyancer has said we could still owe the agent commission as they did sell it (even though not finalized) We dont know what to do
Although not strictly in accordance with the method, as I don't practice in Victoria and property law is state based, I'd be straight on to the agent and:
(a) Asking why they didn't get the deposit; and
(b) Seeking confirmation that you won't be bearing any cost for the failed contract due to their failure to get the deposit - including any costs you've incurred through solicitors/conveyancers.
(a) Asking why they didn't get the deposit; and
(b) Seeking confirmation that you won't be bearing any cost for the failed contract due to their failure to get the deposit - including any costs you've incurred through solicitors/conveyancers.
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