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Lender crackdowns costing property buyers their deposits

Lender crackdowns costing property buyers their deposits Share Fast-rising residential property prices and fierce competition are exposing buyers to increasing legal risks of having their contracts rescinded and deposits forfeited. A recent Supreme Court decision highlights that buyers who fail to strictly adhere to paying deposits by agreed dates are in breach of contract, can lose deposits and be ordered to pay court costs. A Supreme Court ruling shows terms of property contracts will be strictly enforced. Jessica Shapiro Giles Stapleton, a barrister, of Selborne Chambers in Sydney, says: “It reinforces the importance of contract terms being crystal clear. Do not chance it.”

New south walesWestern australiaSouth australiaAustralian capital territoryBarry nilssonJustice rowan darkeSupreme courtReal estate buyers agents association of australiaReal estate buyer associationKings roadRowan darkeDigital financeReal estate buyers agents associationCate bakosபுதியது தெற்கு வேல்ஸ்மேற்கு ஆஸ்திரேலியா

Tradie loses $240k house deposit in real estate horror story

Tradie loses $240k house deposit in real estate horror story Have you had your hopes and dreams crushed by the Sydney property market? It’s probably not as bad as what happened to Theo Alexakis. Property by Brenden Hills Premium Content Subscriber only A Sydney tradie has lost his $241,500 deposit and the chance to own a $4.8 million Eastern Suburbs dream home because he missed the date to pay the deposit on the property by two days. Theo Alexakis brought civil court proceedings against the sellers of the home on Kings Rd, Vaucluse, in the NSW Supreme Court in an attempt to recover his deposit. But Justice Rowan Darke ruled on Monday that the home s vendors, Chi Hing Wan and Kwan Yee Chan, could keep Mr Alexakis s $241,500 and the property.

New south walesCourtney wongKwan yee chanTheo alexakisJustice rowan darkeJustice darkeSupreme courtWoollahra councilEastern suburbsChi hing wanபுதியது தெற்கு வேல்ஸ்கோர்ட்னி வோங்நீதி ரோவன் இருள்நீதி இருள்உச்ச நீதிமன்றம்கம்பளி சபை

Tradie loses $240k house deposit in real estate horror story

Tradie loses $240k house deposit in real estate horror story
news-mail.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from news-mail.com.au Daily Mail and Mail on Sunday newspapers.

New south walesCourtney wongKwan yee chanTheo alexakisJustice rowan darkeJustice darkeSupreme courtWoollahra councilEastern suburbsChi hing wanபுதியது தெற்கு வேல்ஸ்கோர்ட்னி வோங்நீதி ரோவன் இருள்நீதி இருள்உச்ச நீதிமன்றம்கம்பளி சபை

Tradie loses $240k house deposit in real estate horror story

Tradie loses $240k house deposit in real estate horror story
warwickdailynews.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from warwickdailynews.com.au Daily Mail and Mail on Sunday newspapers.

Tradie loses $240k house deposit in real estate horror story

Tradie loses $240k house deposit in real estate horror story
gattonstar.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from gattonstar.com.au Daily Mail and Mail on Sunday newspapers.