- within Real Estate and Construction topic(s)
- with Finance and Tax Executives
- in United States
- with readers working within the Accounting & Consultancy industries
It often happens that a Property sale agreement contains special conditions requiring the Seller to attend to certain repairs or defects before transfer. These conditions are not optional they form part of the binding contract between the parties.
If the Seller delays, the Purchaser may face real pressure: perhaps their own Property has already been sold, or their lease is coming to an end. With Deeds Office registrations currently taking around 57 working days, Purchasers are understandably eager to move forward.
The good news is that the law provides clear remedies:
- • Demand performance: The Purchaser can place the Seller on terms in writing, requiring that the repairs be completed by a certain date.
- • Proceed with transfer, but protect rights: The Conveyancer may lodge the transfer to save time, while ensuring that the Seller remains bound to complete the repairs before registration is finalised.
- • Enforce obligations: If the Seller still fails, the Purchaser may claim specific performance (forcing the seller to comply) or even seek damages for losses caused by the delay.
What this means in practice?
- • The Seller cannot use delays in effecting repairs as an excuse to stall the transfer process.
- • The Purchaser has every right to insist that the agreed defects are remedied before ownership passes.
- • Lodging the transfer early buys valuable time, but does not absolve the Seller of their obligations.
In summary
Purchasers do not need to simply “wait it out” if a Seller is dragging their feet. The contract and the law entitles them to hold the Seller accountable, while still ensuring the transfer process moves forward.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
