This happened with one of our houses as well, we ended up letting them move in and charged them rent that was equal to our repayments. But if they aren't confident it will go through thats a worry.
thanks girls, i should have been a bit more clear, it will go through but they arent confident it will be tomorrow.
would offer to let them rent it out but its an investor thats bought it so not really an option.
2pm tomorrow we'll know for sure, keeping everything crossed it goes through
There is a way you can have the deposit released to you if you are having hardship because of this. It's usually released to enable you to put a deposit on a new house. It's a section 27. Legally if the sale falls through and it's unconditional (ie if they had an opt out clause if finance wasn't approved which has now passed) then you keep the deposit anyway. Ask you conveyancer about it!
Good luck and I hope there is an 11th hour breakthrough and it all works out!
Last edited by ~Raven~; November 11th, 2010 at 06:09 PM.
Thanks girls! if i had of known selling a house was such a drawn out process i never would have bought!
bit worried, they needed 2 week long extentions to get approved for finance, so its not a huge suprise that the bank isnt ready i just really hope we only need to reshedule once!
Raven, interesting point, will speak to the them tomorrow about it
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it's the last thing you need.
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