It's fascinating how much impact popular culture can have on real estate markets! Bluey's hilltop house becoming a symbol of desirability is a testament to the show's immense popularity. I wonder what led to the decision to take it off the market. Maybe the owners realised its sentimental value outweighed any financial gain, or perhaps they had a change of heart about selling such an iconic property.
Bluey’s recent episode was even the subject of a recent Domain article, which in itself has received a lot of attention. In the episode, In The Sign, which aired on ABC Kids on April 14 – The Heeler family's relocation from their traditional Queenslander came to a halt on moving day when the “dogs with no eyes” (as Bluey described them) rescinded from the purchase at the eleventh hour. It's interesting how real-life events can sometimes mirror or be influenced by fictional narratives. In this case, it seems like the decision to keep the house off the market might have been influenced by the show's storyline, where the Heeler family's move was aborted. It's a clever way for the show to engage with its audience and potentially impact real-world perceptions and decisions.
In these circumstances, the favourite family of four cattle dogs were beyond ecstatic to stay put. How would this storyline play out in real life In Victoria?
Once you sign a contract, you’ve got three business days in which you can change your mind and terminate it.
If the Purchaser backs out within this period – which ends at 5pm on the third business day – they could forfeit 0.2 per cent of the purchase price from their deposit. While the Vendor could waive this penalty, typically, they will request the penalty be paid.
Importantly, this cooling-off period doesn’t apply when a home is bought at auction or sold within three business days of being passed in at an Auction.
In addition to the cooling-off period, arguably there are various possibilities or conditions that can be included in a real estate contract to protect both the Purchaser and Vendor and allow for the possibility of backing out under certain circumstances. Common conditions might include un-satisfactory building inspections, finance approval, or the sale of the Purchaser's existing property. These conditions provide a level of flexibility and security for both parties involved in the transaction, ensuring that the sale proceeds smoothly and fairly.
What damages can the Vendor claim? In most situations, these incorporate any expenses for removalists as well as the variation between the two sale prices if the property sells for less after being relisted.
For instance, if they initially sold the property for $1 million, but upon relisting, they only received $900,000, they would file a claim against the purchaser for the $100,000 difference.
While it's not common for buyers to back out of a real estate transaction at the last minute, it does happen occasionally, and there can be various reasons behind these decisions. Your experienced conveyancer will be of great value and can assist you in situations such as this.
