David N. asked
A friend signed a contract before Christmas, but the vendor deferred the settlement day, and now it looks like the transaction might be going through. The real estate agency has done a new revaluation of the property, which is about $2000 less. Does this mean that because the vendor broke the contract, a new one should be made for less? My friend is in the Northern Territory (NT), and he believes he has to pay the original contract price even though he did not break the contract. What steps should he take, and is there anything else he should know?
August 30th, 2023
Sara V. answered
The contract can potentially be cancelled due to misrepresentation, making it voidable. If the vendo...
August 30th, 2023
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