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Question of the week

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21 May 2021

The eleventh hour

Sale, Purchase, Mortgage, Lease


Conveyancing - Compensation for hole in the wall

Our client purchased a property that settles tomorrow. At the final inspection, they identified a hole in the wall exposing pipes from the kitchen that during the auction was covered by furniture.

Can the purchaser delay settlement to negotiate a lower price?


Thank you for the question.

This issue cannot justify delay in settlement or a deduction from the price.

Any remedy can only be pursued in court after settlement. See Consequences of breach – Compensation in the Breach of contract chapter of the By Lawyers reference series 1001 Conveyancing Answers for Victoria.