QUOTE(travellinguy @ Oct 1 2008, 12:54 PM)
Hi

,
I sold a property but my balance sum has not been collected athough the transfer consent has been approved. Problem is the purchaser already moved in as part of the condition in the agreement because purchaser paid more than 10%. According to my lawyer, the purchaser's lawyer NEVER reply at all. I went to my property everytime, I cannot find the occupants and my property is well locked. The neighbours also seldom see them.
What can I do now ? I told my lawyer to take action so I can recover my property to sell again but my lawyer has been too "lenient". NO actions so far.
I will like to know whether I can claim on rental(for those months since payment due ?) or remedy work expenses to my property if the purchaser decide not to buy ? The S & P prepared by my lawyer have not mention such conditions.
My lawyer fees has been fully paid. Is my lawyer obligated to handle the rest of the job from now ?
Anyone can give some advise or introduce me to a lawyer who specialise on such matters ? Thanks.
1. When is the completion date (or extended one, if you agreed to one)? Balance sum should be paid on or prior to that date.
2. Usually vacant possession of the property will be given to the buyer when the balance sum is paid. You seem to already have given him vacant possession before the balance is paid or the completion date due. Is the buyer's early moving in stated in the agreement or was it just verbal?
3. What action would you want your lawyer to take? If he has done the documentation, his job is done (note that release of the balance money is also reliant on work done by buyer's lawyer and buyer's bank's lawyer if he took a loan).
4. If the completion date is up, you can ask your lawyer to terminate the agreement according to the termination clause in the agreement. He can do the documentation that is necessary for that but bear in mind that he is as much able to physically get your property back for you as you are yourself. You'll need to litigate the matter and yes, that will incur additional costs. Your sale and purchase lawyer is not obligated to litigate for you.
That's the peril of giving early vacant possession. I hope that this is simply a case where the completion date isn't due yet and that you will get your money in due course.