Deposits when purchasing a residential property.
I recently have been asked when is a deposit refundable. Unless specifically stipulated in a contract a deposit is not refundable. In New South Wales every residential contract provides a cooling-off period. For an existing property, it is five (5) business days and for an off the plan property it is 10 business days. The cooling-off period was introduced to allow for people to exchange contracts on the payment of a non-refundable 0.25% of the purchase price then undertake such matters as the review of the contract, building and pest reports and most importantly obtaining final approval of finance.
If for some reason the property is found unsatisfactory or finance not forthcoming the vendor has to be advised in writing by 5.00 pm on the fifth business day, otherwise the contract must proceed and the balance of the deposit paid. By agreement, a cooling period may be amended or be waived by the provision of a 66W certificate by your solicitor. This certifies that you have been provided legal advice as to:
(i) the effect of the contract for the purchase of that property;
(ii) the nature of the certificate;
(iii) the effect of giving this certificate to the vendor, that is, that there is no “Cooling Off Period” in relation to the contract.
Unless specifically provided for in the contract for the sale of a residential property, a deposit is not refundable and the property is not sold until the contracts are signed and exchanged.
Please contact me if you or anyone else you know needs any advice regarding cooling-off periods or purchasing or selling a property.
Have a wonderful day,
Jeffrey
0419 233 670
[email protected]
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ps. I am available to discuss matters either in my office or by Zoom conference and provide notary services which must be in person.
早上好
在如今火热的房地产市场上，似乎卖家占了上风。房地产经纪人鼓励人们立即签订合同并支付定金。
最近有人问我什么时候可以退定金。除非合同中有特别规定，定金是不可退还的。在新南威尔士州，每个购房合同都有一个冷静期。对于现房，为五（5）个工作日，对于楼花，为10个工作日。引入了冷静期， 是让人们在支付了不可退还的购房价格0.25%的定金后，允许人们交换合同，然后对合同、对建筑和有害生物的报告进行审查，最重要的是获得银行贷款的最终批准。
如果由于某种原因，发现对房产不满意或无法获得贷款，买家则必须在第五个工作日下午5:00之前以书面形式通知卖方，否则必须继续履行合同并支付定金的余款。根据协商，您的律师可通过提供66W证书来修改或免除冷却期。此证书证明您已获得以下方面的法律意见：
（i） 购买该物业的合同的有效性；
（ii）合同无法变更性；
（iii）向买方提供本该证明，说明该合同不存在“冷静期”。
除非房屋买卖合同另有规定外，定金一般不予退还，双方未在房屋买卖合同上签字，房屋不算已成交。
如果你或任何其他人，想要知道更多关于冷静期或购买或出售物业的信息，请与我联系。
祝您有愉快的一天，
蔡福榮 Jeffrey
0419 233 670
邮箱：[email protected]
请单击 此处 查看更多信息
另外，我可以在办公室或会议上讨论问题；以及公证服务必须当面进行。
