Hi
Theres more than likely no chance, but very much regret selling, Ive underestimated the market , and regret selling now , the contract was totally unconditional , settlement 21st May.. has anyone heard of ways out , not
worried if it costs 30-50k to breach it, not good ethics though and not how I operate

daz1968 - 2021-02-04 18:43:00

Why did you sell? Could you live with yourself if you reneged?

apollo11 - 2021-02-04 18:54:00

If you fail to settle you can be penalised for reasonable costs for alternative accommodation, penalty interest on the full sales price (see your contract for the penalty interest, and general interest. You can also be sued for performance (ie they can force you to sell) or sue you for losses on buying another property (potentially including the higher cost of an alternative property). It can get messy pretty quickly.

Talk to your lawyer and listen to their advice, even if you don't like it.

sparkychap - 2021-02-04 19:19:00

Yes I better see your lawyer.

msigg - 2021-02-04 19:21:00

msigg wrote:

Yes I better see your lawyer.

His lawyer doesn't know you.

sparkychap - 2021-02-04 19:49:00

sparkychap wrote:

His lawyer doesn't know you.

He will once he's seen him.

apollo11 - 2021-02-04 19:52:00

Regrets, we all have them. Might pay to look back on this episode in your life with no regrets. Consider your conscience and moral values. Especially if you see your house re listed for many dollars more.

keys - 2021-02-04 20:00:00

apollo11 wrote:

He will once he's seen him.

And maybe they'll fall in love and run off together.

sparkychap - 2021-02-04 20:20:00

apollo11 wrote:

Why did you sell? Could you live with yourself if you reneged?

I sold as I wasnt happy with a couple of aspects of house, but in the scheme of things now Im thinking not that bigger deal, I dont think Id reneged I have
a feeling it would be impossible anyway, i would be very bitter if someone did that to me so yeah I will change that thought process and focus on a
tender coming up next week and hopefully more listings.. :)

daz1968 - 2021-02-04 20:31:00

Think about the buyers as well.
I wouldn’t be happy if it got pulled on me.

rodeorunch - 2021-02-04 20:51:00

Maybe the buyer bought yours because the one they wanted was 30- 50,000 more. Might be a long shot but possible they had something else they were looking at and if they could get that and $30,000 cash they might go for that deal.

ash4561 - 2021-02-04 21:08:00

Regrets, I've had a few. But ultimately my reason for selling was based on my own circumstances at the time, so if (like me) you made the best decision you could (at the time) then try to live with it. The alternative is stressful - legally, personally and financially. Let it go. Your final curtain. I think we need to admit we did it our way. And sometimes that's all that can be said. Because at the end of the day you need to live with yourself, and even if you bit off a bit more than you could chew - stand tall. Good luck.

cameron-albany - 2021-02-04 21:47:00

daz1968 wrote:

Hi
Theres more than likely no chance, but very much regret selling, Ive underestimated the market , and regret selling now , the contract was totally unconditional , settlement 21st May.. has anyone heard of ways out , not
worried if it costs 30-50k to breach it, not good ethics though and not how I operate

See your lawyer. The only sensible solution is to offer consideration to the buyers to agree to cancel. In this market it might be a long shot but worth trying. You will still owe commission.

Failing to settle will have serious financial consequences and before you know it you will likely lose the house and a few hundred thousand dollars.

johnston - 2021-02-05 07:21:00

cameron-albany wrote:

Regrets,-
I've had a few. But ultimately my reason for selling was based on my own circumstances at the time, so if (like me) you made the best decision you could (at the time) then try to live with it. The alternative is stressful - legally, personally and financially. Let it go. Your final curtain. I think we need to admit we did it our way. And sometimes that's all that can be said. Because at the end of the day you need to live with yourself, and even if you bit off a bit more than you could chew - stand tall. Good luck.

.

johnston - 2021-02-05 07:21:00

johnston wrote:

See your lawyer. The only sensible solution is to offer consideration to the buyers to agree to cancel. In this market it might be a long shot but worth trying. You will still owe commission.

Failing to settle will have serious financial consequences and before you know it you will likely lose the house and a few hundred thousand dollars.

Very sound advice.

carlnsue - 2021-02-05 10:05:00

The sum of $30 to $50,000 was mentioned in the OP... as the buyer I would want to come out of the cancellation exercise with at least $50,000 in my back pocket AFTER all my incurred costs etc had been looked after..
Before you do anything rash or commit to anything etc it is essential that you go and see your lawyer, and take it from there !!

onl_148 - 2021-02-05 10:32:00

carlnsue wrote:

Very sound advice.

Thank you. Trust all is well Carl.

johnston - 2021-02-05 12:53:00

Did you find out afterwards that your property is newly zoned for apartments and might be word 2 or 3 times more?

mone - 2021-02-05 13:18:00

daz1968 wrote:

"not good ethics though and not how I operate"

Is this true? and if so, can you live with/through the decision you make, what ever that decision is?

mkr_ahearn - 2021-02-06 06:52:00

johnston wrote:

.

yeah your right , I'm not going to try and take bag the sale ; houses have jumped abit since the sale, but I can still easily get back in the market , and will , Ive let it go , and I have had success in the past , I know people who have lost everything through bad management , luckily not in that boat, cant win them all everytime.. your post makes excellent sense

daz1968 - 2021-02-06 21:59:00

mkr_ahearn wrote:

Is this true? and if so, can you live with/through the decision you make, what ever that decision is?

Im just going to continue and buy a house, not looking back

daz1968 - 2021-02-06 22:00:00

mone wrote:

Did you find out afterwards that your property is newly zoned for apartments and might be word 2 or 3 times more?

no just wasnt happy with the house , hadn't been in it that long

daz1968 - 2021-02-06 22:01:00

Live with it.
We all have "if I had" moments in our lives....we used to own a 1200sqm section property in Akld. We sold it ages ago. If we had stayed and sold it now, we'd have developers all over us....but so it goes....

lythande1 - 2021-02-07 08:55:00

daz1968 wrote:

Im just going to continue and buy a house, not looking back

You might find it is the best decision you have made and it was meant to be. The next house could be perfect for you and you will wonder why you wanted to cancel out of selling the previous one.

kacy5 - 2021-02-07 09:02:00

sometime is life you just have to accept the decision and move on an minimise the loss- so be extra savvy with your next purchase, drive a hard bargain etc. you had your reasons for selling- they wont change even if it costs you lots to reveerse that. Luckily in ZN we have protections around sellers doing that unlike places like the UK. It seems a very long settlement date- maybe could you try and renegotiate that so you get your money sooner?
I lost a lot on money selling a house at a time of stress in my life- just wanted out so took a big hit. I made it back and more on the next property so worked out well in the end

fromnature - 2021-02-07 09:38:00

The member deleted this message.

hll1974 - 2021-02-18 15:30:00

This message was deleted.

kittycatkin - 2021-02-18 20:34:00

This message was deleted.

kittycatkin - 2021-02-18 20:35:00

It is called 'seller's remorse' and we have all experienced it. Just think of the developer waiting to put up five units on your section.

bryshaw - 2021-02-20 08:10:00

The only thing you get looking back is a sore neck.

3tomany - 2021-02-21 13:35:00