You’ve sold your home and the contract is subject to finance. The latest date set by the finance clause has come and gone and you’re still waiting for the buyer to send you finance approval.
The standard-form contract used in WA, known as the Contract for Sale of Land or Strata Title by Offer and Acceptance has a fairly complicated finance clause setting out the rights and obligations of the seller and buyer in detail.
It’s best to get legal advice before taking any action. As your independent settlement lawyers, contact us to book a 30 minute consultation ($198) or a 60 minute consultation ($385). Individual circumstances call for individual solutions. That said, we can make a few general points with reference to the standard-form contract:
Remember to keep your settlement lawyer or settlement agent informed of developments.