QLD Sellers solicitor delaying notification of contract termination

[Jitters]

Hello,
Apologies if this post in not in the right forum, or if this has already been asked. I couldn't find the answer in the forums.

How long does the sellers solicitor have to release an acknowledgement/letter/notification of termination of contract?
Does the sellers solicitor have any reason to dispute the termination when the contract was dependant on satisfactory B&P, and the termination was reasonable based upon a rather large B&P report.

I recently terminated a property contract on the grounds of unsatisfactory building and pest, however i cannot continue my property search until i have received this notification - Its only been 3 days.

Any advice or guidance would be appreciated.

 

[Docupedia]

Queensland conveyancing law is contract based - so the terms of the contract you signed will dictate what has to happen. Assuming you've used the standard REIQ contract - which occurs in most cases unless it is an 'off the plan' type purchase - it will be something along the lines of the following. The wording is a little different depending on whether you're purchasing a 'house' or a 'strata lot', so this is generic, and special conditions can change it:

- Obligations under Queensland contracts operate on a 'time is of the essence' basis, and if something isn't done by the deadline it is actionable immediately;
- The contract is only subject to building and pest if it states it is subject to building and pest inspection;
- (Assuming it is subject): The standard conditions provide the contract is subject to the buyer obtaining an inspection report on 'terms satisfactory to the Buyer';
- The Buyer must take reasonable steps to obtain the report;
- By 5.00pm on the deadline date the Buyer must either say the condition is waived/satisfied, or the report is not satisfactory and terminates the contract (or negotiates an extension). If terminating, the Buyer must be reasonable in doing so;
- If the Buyer doesn't do one of the above by 5.00pm on the deadline date, the Seller can terminate the contract and this is their only remedy for the failure to give notice; and
- If terminating, the Seller can request a copy of the report, which must be provided without delay.

So if the Buyer obtains the report, is reasonably unsatisfied with it, and tells the Seller by 5.00pm on the deadline date: the contract is terminated. There is no need for them to give an acknowledgment. Rather, it would be up to the Seller to make a claim that the Buyer has been unreasonable in the termination (and that, therefore, the Buyer is in breach of the contract) - and their first step would be to ask for a copy of the report and make that claim in writing.

 

[Jitters]

Queensland conveyancing law is contract based - so the terms of the contract you signed will dictate what has to happen. Assuming you've used the standard REIQ contract - which occurs in most cases unless it is an 'off the plan' type purchase - it will be something along the lines of the following. The wording is a little different depending on whether you're purchasing a 'house' or a 'strata lot', so this is generic, and special conditions can change it:

- Obligations under Queensland contracts operate on a 'time is of the essence' basis, and if something isn't done by the deadline it is actionable immediately;
- The contract is only subject to building and pest if it states it is subject to building and pest inspection;
- (Assuming it is subject): The standard conditions provide the contract is subject to the buyer obtaining an inspection report on 'terms satisfactory to the Buyer';
- The Buyer must take reasonable steps to obtain the report;
- By 5.00pm on the deadline date the Buyer must either say the condition is waived/satisfied, or the report is not satisfactory and terminates the contract (or negotiates an extension). If terminating, the Buyer must be reasonable in doing so;
- If the Buyer doesn't do one of the above by 5.00pm on the deadline date, the Seller can terminate the contract and this is their only remedy for the failure to give notice; and
- If terminating, the Seller can request a copy of the report, which must be provided without delay.

So if the Buyer obtains the report, is reasonably unsatisfied with it, and tells the Seller by 5.00pm on the deadline date: the contract is terminated. There is no need for them to give an acknowledgment. Rather, it would be up to the Seller to make a claim that the Buyer has been unreasonable in the termination (and that, therefore, the Buyer is in breach of the contract) - and their first step would be to ask for a copy of the report and make that claim in writing.

I'm very new to the buying market, thank you for this information and for taking the time to reply.