Brisbane couple loses $75k house deposit to ?perfect storm?


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A Brisbane couple has been left devastated after losing their hard-earned $75,000 house deposit to a ?perfect storm? that involved ?greedy? sellers and a screw up from their bank.

Mark Trau, 30, and Maddie Goyder, 27, are warning other aspiring homeowners what to look out for after losing a huge chunk of their cash to unfortunate circumstances.

The pair, who have been together for more than 10 years and recently got engaged, were looking to buy a home in Brisbane where they could start a family.

They offered $965,000 for a 564 square metre two-storey house in Jindalee, with four bedrooms, two bathrooms, and a pool.

The sellers gladly agreed however at settlement on October 20 their bank, Westpac, wasn?t ready in time.

As a result, the deal lapsed and legally the sellers were entitled to their entire deposit.

Instead of listening to their pleas to extend the deadline, the owners were happy to pocket their $75,000 and sell to somebody else afterwards, according to Mr Trau.

?It was part of the money we?d been saving up from the beginning of our working lives,? he told news.com.au.

?It [the $75,000] was everything. We?re not from wealthy families. We haven?t had any handouts from family, no second cousin?s aunty has passed away and left us a massive inheritance. We?ve worked hard for 10 plus years.?
ozcopper said:
Some people (the sellers) have no morals whatsoever!

I was in a position where I could have legally taken someone's deposit because their bank delayed. I couldn't do it. I let them have another month to sort things out, which they did.
Shouldnt this fall on Westpac? Its not the sellers fault entirely although it is  definitely greedy of them to just pocket the cash.
If I did something like that, it would follow me to the grave. The sellers are stacking karmic debt with this one.

There should be a clause where once you have approval from the bank, the liability rests on the bank to cough up the funds or absorb the loss of the deposit.

66rounds said:
Shouldnt this fall on Westpac? Its not the sellers fault entirely although it is  definitely greedy of them to just pocket the cash.

Westpac compensated the couple the full deposit.

My parents had a similar thing happen to them. Long story short. They put an offer into a house, the offer was accepted, 5pm on the dot on settlement day my parents solicitor got a call from the sellers solicitor "You had until close of business today, business has closed, deal is off, goodbye" My parents solicitor said he's never even heard of this happening let alone had it happen. But for my mind, and this counts for the OT, if there's a deadline MEET IT.