Hi guys, we just sold an off the plan townhouse to a buyer subject to two conditions.
1) Get final endorsed plans from Council by 31 July ( meaning no endorsed plans, no sale)
2) Makes changes to the layout during construction phase.
My agent and conveyancer are giving me different answers so i thought i should ask here too. My question is, let's say we can't get the endorsed plans by 31st July, i assume we will need to refund the full 10% deposit PLUS agent's commission if the buyer pulls out. Am i correct? My conveyancer said we do no need to pay the commission as there is no sale, my agent claims otherwise.
Thanks.
1) Get final endorsed plans from Council by 31 July ( meaning no endorsed plans, no sale)
2) Makes changes to the layout during construction phase.
My agent and conveyancer are giving me different answers so i thought i should ask here too. My question is, let's say we can't get the endorsed plans by 31st July, i assume we will need to refund the full 10% deposit PLUS agent's commission if the buyer pulls out. Am i correct? My conveyancer said we do no need to pay the commission as there is no sale, my agent claims otherwise.
Thanks.