VIC Property Law - Bought Property at an Auction?

[Rod]

Can I hold back the 5K for any damagers/missing incluions ? I believe the law allows for the same.

2. I'd prefer to not sign anything unless I am covered. I cannot hope to get any help from them unless I have my back covered legally.
4. I will ask my lawyer to send them a letter, however, the lawyer is trying to charge me lots for each query.

No. What you do is have a final inspection. If anything is amiss speak to your lawyer. Then on day of settlement you get your keys asap and inspect again. If anything is amiss you immediately call your lawyer.

You've already signed. Failing to proceed with the purchase can cost you big bikkies. Not to be done without full awareness of the risks.

Lawyer charging you is only reasonable. You are the one that created this situation and need help getting out of it..

 

[Rod]

I am not even sure if it would be illegal for them to remove all the inclusions they felt like removing as long as your still getting the product you paid for, as described to you in the ad/paperwork that you have?

Property law does not work that way. You are confusing consumer law with property law - they are two different areas with different rules. Hence the need for lawyers.

 

[Rishi J]

I am not even sure if it would be illegal for them to remove all the inclusions they felt like removing as long as your still getting the product you paid for, as described to you in the ad/paperwork that you have?

Ok for example, lets say a different buyer inspected the property and was informed their was a shed and saw the shed. He came to the auction bidding on a house that comes with the shed.... if the shed is not otherwise in the ad for you to see, you are standing next to him bidding for a house that does not necessarily have a shed because you have not seen it/not been informed of it.... they could remove it if they wanted, and not break the law?

That is what my conveyancer seems to be suggesting. There was a split system and owen which was not discussed earlier. If they removed it, all I have is a video showing it (which I made after auction with permission of vendors). But they could object saying it is not documented.

I do not know really what my legal stand will be but the contract says all fittings of permanent nature are included and the house must be delivered as 'sold at auction' so I guess I have gorunds to claim them as I have seen them after auction ?

 

[Rishi J]

Property law does not work that way. You are confusing consumer law with property law - they are two different areas with different rules. Hence the need the need for lawyers.

Ok

 

[Rod]

have grounds to claim them as I have seen them AFTER auction ?

Completely not relevant.

Having said that however a split system, with holes in walls, is likely to be a fixture. If it was a portable split system it would be a chattel.

 

[Rishi J]

No. What you do is have a final inspection. If anything is amiss speak to your lawyer. Then on day of settlement you get your keys asap and inspect again. If anything is amiss you immediately call your lawyer.

You've already signed. Failing to proceed with the purchase can cost you big bikkies. Not to be done without full awareness of the risks.

Lawyer charging you is only reasonable. You are the one that created this situation and need help getting out of it..

Some people have suggested vendors failing to provide final inspecton maybe sufficient grounds to delay settlement but I am unsure. You mentioned contacting lawyer on day of settlement if something is amiss - so if I am not holding back anything, will it not be difficult to resolve things after I have paid in full ?

 

[Rod]

It can be difficult on the day of settlement to withhold any monies. You will be in breach of the contract if you withhold monies when you have no valid reason for doing so. Fear of something going wrong is not a valid reason.

Failing to allow final inspection may give a reason to delay settlement and you can settle under protest so as not to concede any rights but this is the type of discussion you need to be having with your lawyer.

 

[Rishi J]

It can be difficult on the day of settlement to withhold any monies. You will be in breach of the contract if you withhold monies when you have no valid reason for doing so. Fear of something going wrong is not a valid reason.

Failing to allow final inspection may give a reason to delay settlement and you can settle under protest so as not to concede any rights but this is the type of discussion you need to be having with your lawyer.

Thanks. However, I am going through a stressful time.

My lawyers are not co-operating at all. I have told them a number of times about the vendors and agent not giving me final inspection. To this the lawyers conveyancer has replied " you arrange the inspection with the Agent as per the Contract of Sale"

Before the above message I had called the lawyer himself and he said he will get me a final inspection but to try and forego the 1k price reduction.

Anyways I am not happy with the current lawyer responses either.

Any suggestions would help. I know this maybe a lot to ask but am I able to call you briefly ?

Thanks heaps !

 

[Rishi J]

If you have signed the contract with the price of $649, this is it. You may claim that this is an error but you really need to explain all the circumstances to your solicitor so they can properly assess your prospects.

Thanks Luiza. I have explained everything to solicitor and thier conveyancer - I have told them several time the agent is not providing final inspection. Then they come and tell me "You get a final inspection from them" when I have asked them to do so.

Would my deposit be still released even if I hold back settlement ?

 

[Rod]

I know this maybe a lot to ask but am I able to call you briefly ?

Sorry, can't yet. I need to be lawyer first before I am allowed to give out legal advice.