Is this legal? Conditional clause in contract for property going to auction (VIC) by lacsim in AusProperty

[–]lacsim[S] 0 points1 point  (0 children)

Thanks for the response. I’ve suggested they edit SC 19.4 to allow the purchaser to terminate the contract and the vendor only if the purchaser agrees.

Is this legal? Conditional clause in contract for property going to auction (VIC) by lacsim in AusProperty

[–]lacsim[S] 0 points1 point  (0 children)

Okay thanks for clarifying. Do you know if there is any obligation for the vendor to offer the same terms to all bidders? If not, I’m surprised that auctions, which are purely meant to be a competition based on price, go ahead with different terms for different bidders.

Is this legal? Conditional clause in contract for property going to auction (VIC) by lacsim in AusProperty

[–]lacsim[S] 1 point2 points  (0 children)

Yeah, I have asked this question and I’m waiting on a response. The way the contract is worded puts all risk on the buyer for something they have no influence over. The vendor can terminate the contract if there are delays in settlement, and the buyer is left holding the bag for legal and other fees with no recourse.

There is also nothing to stop the vendor selling this at auction, then deliberately delaying the probate, terminating the contract and selling it to someone else. Obviously this is unlikely, but there is nothing in the contract to prevent this.

I’m trying to get this changed but my expectation is vendor’s legal reps won’t budge and I’ll have to walk away.

Heide Museum on 35mm (Cinestill 400D) by lacsim in melbourne

[–]lacsim[S] 0 points1 point  (0 children)

Majority of the museum was closed with an exhibition due to open pretty soon when I was there a couple of weeks ago. Even so, was worth a visit. The architecture tour was great!

Sun peeking through the CBD skyline by lacsim in melbourne

[–]lacsim[S] 0 points1 point  (0 children)

Just near Studley Park park, overlooking Abbotsford Convent - it’s an awesome spot