Hi,
I'm needing some guidance where my husband and I would like to withdrawal from a land contract of sale, and try and get our deposit back.
The contract is quite iron tight where we are unable to nominate third parties not directly related to us, or where we are a 50% shareholder of a company. We also are unable to onsell the land after settlement till a dwelling is built.
Through our conveyancer we sent a proposal to the vendor asking to withdrawl from the sale, and stating the reason my husband and are going through martial issues, and it would be unethical for us to continue with the sale. We were approved from being released from the contract, which included paying lawyer fees to prepare deed cancellation paperwork, but rejected for being able to nominate another party to pay our deposit back and having to forefeit the deposit.
Contracts were signed July 2017, with scheduled settlement June 2018. This has been delayed till September 2018.
We had every intention with building a dwelling on the land, and have correspondence with builders and draftmen, but due to the current circumstance we can't commit to such a big decision.
Any advise would be much appreciated.
I'm needing some guidance where my husband and I would like to withdrawal from a land contract of sale, and try and get our deposit back.
The contract is quite iron tight where we are unable to nominate third parties not directly related to us, or where we are a 50% shareholder of a company. We also are unable to onsell the land after settlement till a dwelling is built.
Through our conveyancer we sent a proposal to the vendor asking to withdrawl from the sale, and stating the reason my husband and are going through martial issues, and it would be unethical for us to continue with the sale. We were approved from being released from the contract, which included paying lawyer fees to prepare deed cancellation paperwork, but rejected for being able to nominate another party to pay our deposit back and having to forefeit the deposit.
Contracts were signed July 2017, with scheduled settlement June 2018. This has been delayed till September 2018.
We had every intention with building a dwelling on the land, and have correspondence with builders and draftmen, but due to the current circumstance we can't commit to such a big decision.
Any advise would be much appreciated.