QLD Is there a possibility to stop signed contract

[Dors]

It is past 5 day cooling off just need to sign release form but cannot until I finish enforced quarantine, had hardship and stress for past 2 years and making bad decisions. What I’m asking are there anything I can do to rescind without incurring too much cost???
Thankyou Doreen

 

[Rob Legat - SBPL]

You need your solicitor to look at the terms of the contract and see whether there are any conditions on which you can rely. As a seller, there usually are not many opportunities. The 'common' conditions like building and pest or finance are there for the benefit of the buyer. You opportunities will likely come down to:
- Buyer failing to obtain building and pest, or finance (if either/both are conditions) by the due date. Your opportunity is to refuse an extension and hope they terminate;
- Buyer failing to be ready to settle on the due date. You can terminate if they cannot settle by 4.00pm on the due date for settlement - but you must 'tender' (be ready, willing, and able to settle, and be able to show it);
- There being some 'big bad' with the property that the buyers want to get out; or
- There's a special condition to the contract that you can use.

In any case the cooling off period is only for the buyer to be able to terminate.