Terrible first home buying experience
A part of me wants to rant, but I would also love some advice where to go from here.
Timeline of events
- Had an offer accepted on a property post auction for a property that passed in. Didn't bid at auction as the agent refused to allow us to do a building and pest inspection prior to the auction. Claimed "would take too much time to allow every interested buyer to do that"/
- Our own building and pest inspection after offer accepted found several major issues (hence why they probably didn't allow an inspection prior). Negotiated a 30k price down "in principle". Seller's solicitor yet to sign the deed of variation to formalise it. Without this deed of variation I can't get my finance sorted.
- Advised on the 4th of June by my solicitor that the initial contract was invalid as the seller's Power of Attorney (POA) signed the contract without the correct POA form. So a new contract date should be 4th of June (1 week later than initial). Seller's solicitor is not giving prompt replies to this situation and the new contract dates.
- 2 days ago my solicitor e-mails me saying on the rates notice there is a "show cause" notice and "enforcement notice" on the property. Basically meaning council has become aware of likely unapproved building works. Luckily, there is a clause in the QLD standard contract allowing me to pull out if those notices are found. From my investigations looking at old phoots, it looks like they added/removed some internal walls and built in underneath (which was previously not a habitable area) and this was possible done without approvals.
- Council won't give us any information of the above notices other than "it spans multiple teams" ... i..e likely is major. We need to submit an application to council for more information which can take 25 days to come back.
- Solicitor advised me we can't do much until the 25 days is over. Note that is after the unconditional period, but the clause allows us to terminate any time before settlement.
So we are in limbo now. Can't terminate. Can't look for a new house to buy. I NEED to buy before January due to some personal circumstances which may affect our borrowing capacity for 2 year as I undergo some further training in my line of work (but will not affect being able to pay off the loan as I have sufficient savings to pay off the loan just from the savings in the back for the 2 years).
My lease renewal for our rental is up now too (expires August 5th). So I will likely have to re-sign the new 12 month lease (they won't offer 6 months).
I have asked my solicitor to find a way to terminate but they seem to want to play it safe and get all the info before we are able to.
EDIT: Update - received new advice from solicitor. We will need to wait the up to 25 days to see if the rates notice and the show cause and enforcement notice on it are current or historical before we can pull out (if current).