How the latest episode of Bluey could serve as a caution for property sellers

WARNING: SPOILER AHEAD

The children’s program Bluey is an international hit that is becoming increasingly popular with both kids and parents alike. A recent episode of Bluey could however serve as an important reminder for people looking at selling their home.

In the episode, Bluey’s parents, Bandit and Chilli, put the family home up for sale. While Bluey is most upset about the decision, boxes are packed and the house emptied.  Before driving away in their car to start a new life in the city, Bandit throws away the “for sale” sign and the entire family run back into the house with elation, seemingly implying that they will now not be moving.

This is terrific news for Bluey (and Bluey fans)! But in reality, it is not as easy as ripping up that “sold” sticker. Generally, once the “sold” sign is put up, the Contract is considered “unconditional” – meaning that all Contract conditions have been satisfied and the parties are locked into the agreement. The Contract becomes legally binding, and a Seller may only be able to terminate if the Buyer has breached a term of the Contract, or if there is mutual agreement between the parties for the Contract to be at an end.

Should a Seller attempt to terminate an unconditional Contract, then the Buyer may be able to recover any deposit monies paid and sue the Seller for damages, including compensation for any of the Buyer’s inspection fees and legal costs. The Buyer may alternatively pursue legal action to compel the Seller to complete the Contract. The Seller may also be liable for the real estate agent’s commission and any marketing expenses.

It is therefore really important that Sellers consider their position on selling prior to entering into a Contract.

We weren’t provided with the background on Bandit and Chilli’s property Contract, so we will just assume that they were validly able to exit their agreement to sell.

Please contact our Property Law Team today as professional advice should be sought about your specific circumstances.