A recent case considered whether a price adjustment clause in a contract merged on settlement. The Purchaser entered into a contract to purchase a shop in a “off the plan” development. The contract contained a clause allowing for a price adjustment in the event that the area of the shop once completed was more or […]
DOES A CHANGE IN THE PLAN OF SUBDIVISION ALLOW PRICE ADJUSTMENT AFTER SETTLEMENT?
December 5, 2014 by
MISREPRESENTATION REGARDING NUMBER OF CAR PARKING SPACES
December 5, 2014 by
A dispute Q rose over the number of car parks sold with the property. There were only two car parking spaces and a storage area. The storage area could be converted into a third car parking space. However the Council prohibited the storage space being used for car parking. The real estate agent was not […]
DEFAULT IN PROPERTY SETTLEMENTS
November 23, 2014 by
DEFAULT IN PROPERTY SETTLEMENTS What happens if the sale of your property doesn’t settle? If the Purchaser is at fault and doesn’t settle, the Vendor may serve a Default Notice. The notice may or may not state that if the default is not rectified within fourteen days the Contract will be at an end and […]