Can a penalty be enforced if deposit was not paid and 3 day cooling off escape rule used to exit contract on a

Question

house purchase.
The vendor has since sold property and has suffered no loss and I have a bill. Do I have to pay? Victoria , Australia

Thanks TC Spoke to lawyer who says it is enforceableas contract becomes binding on signing regardless of non payment but agrees it is mean spirited. I.m hoping they will reconsider will have to wait and see.

Answer 1

I'm not a lawyer, but I would think that if posting the deposit was a condition of the contract, you probably did not have a valid contract and therefore would not have to pay. If your contract was still in force, they probably could not have sold...

Well, at least in the States. Don't know about OZ.

I'd be interested in hearing what happens.

Good luck!