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    Default Sold our house and solicitor made a mistake

    Ok last week we sold our house and purchased a new one which was more expensive.
    So we basically put all our money into our new house plus my in laws help us out with a large lump sum.
    Last week I emailed my solicitor before settlement my estimate of how much extra I would need. She replied and gave me the final amount which then my in laws transfer the amount. And then they locked away their money in term deposits.
    Settlement went ahead and done.
    Today a week later I got a email from my solicitor telling me we owe $3500.
    The house we sold we negotiate our price in the original contract and the price went down $3500 from the first asking price. As it happens in negotiating.
    But the buyer solicitor stuff up cause they settle using the original price

    I'm so mad cause for one I emailed the solicitor before settlement wanting the exact amount.
    And now it's all done we don't have $3500. I would of had to borrow it from in laws but its to late the rest of their money was transferred to term deposits in their pension fund.

    The solicitor just sent me an email saying "sorry didn't calculate the $3500 reduction so here is our bank account please pay ASAP"

    I know it's the right thing to pay but I'm so mad. Our tax refund will have to pay it.
    It's a pretty big stuff up which can happen but why to us. Why now when we are paying the cost to move and find $3500.
    It just never ends

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    meljemillie  (28-06-2013)

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    What amount did the signed purchase contract have on it?

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    We agreed on a price of $443000 which was signed.
    Then building was done and we agreed on a $3500 reduction.
    Now I thought about it I'm not sure if we signed off on it.

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    Quote Originally Posted by onelasttime View Post
    We agreed on a price of $443000 which was signed.
    Then building was done and we agreed on a $3500 reduction.
    Now I thought about it I'm not sure if we signed off on it.
    Damn Did the Solicitor negotiate the reduction? The Real Estate Agent? The sellers Solicitor would have had to send something through to your Solicitor to agree to the reduction ... surely that would have to count as an agreement?

    If you've got something from the either solicitor agreeing to the reduction I'd be calling them on their mistake and telling them they'd have to wear it.

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    What state are you in? A price reduction on a Queensland contract of sale needs to be requested in writing by the buyers' solicitor and then agreed to formally in writing by the sellers' solicitor and generally cc'd to the agent. I would be cranky too! Also ask for a copy of the solicitors Settlement Statements out inking where monies went. Yes, I agree you have to pay it but that sucks!

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    I think first I sent a email saying we would consider dropping $3500. I remember negotiating on the phone with the agent and he called me back with their agreement.
    I think it was changed on the contract but not sure if we signed it.
    If we didn't sign it we might get away with it my husband says we didn't sign it!!
    But doubt it. I'm not sure what to do

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    I have no copies of the reduction in price on the contract.
    Yes I'm in Qld

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    So you agreed to the reduction but the buyer ended up paying you the $3500 any way ? So you actually are not out of pocket then you just have to give the buyers their money back ( is that how I read it?)

    Legally Your solicitor would have had to send the buyer an email accepting the reduced price - I'm surprised a buyer would not have picked up the mistake especially if they requested it!

    If you did verbally agree to it they can hold you to it - they can take you to court and they will probably win but it will cost more in legal fees , it sucks and your solicitor should have realised it immediately at settlement but this is why everyone needs to double check figures!

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    Generally a B&P reduction doesn't need to be changed on Contract, just via correspondence between parties in accordance with your instructions. Were you given final figures and break downs to peruse before settlement?

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    Quote Originally Posted by onelasttime View Post
    I think first I sent a email saying we would consider dropping $3500. I remember negotiating on the phone with the agent and he called me back with their agreement.
    I think it was changed on the contract but not sure if we signed it.
    If we didn't sign it we might get away with it my husband says we didn't sign it!!
    But doubt it. I'm not sure what to do
    You won't have to sign it , your solicitor can make the adjustment on your behalf if they have your ok - was there major building damage ?


 

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