[Susan Scott]

We’ve had a sale fall through. Our solicitors have advised that this means the purchaser has forfeited his deposit, and they have forwarded the funds to Council. After paying all costs & the rates, we still have a small amount (~$990.00) that is over. What do we do with these funds?

[Suzi Flynn]

I would suggest applying it to the rate account to offset future rates.

[Trevor Holland]

Agree with Suzi. This is the process we followed we had sales fall through during the last SLFUR that we held.

[John Norris]

While it seems logical to pay the surplus to the rate account, the purpose of sale of land is to pay the rates and charges that are due to the date of the sale. What is being proposed by offsetting the surplus against future rates is giving benefit to the ratepayers who have not paid their rates. Perhaps after all rates and charges have been paid the balance can be used by Council for whatever purpose.
I’m not saying it’s right but it’s another avenue of thought.

[Susan Scott]

The original intending purchaser was unable to come up with the finance to pay for the property. Now that the sale has fallen through, my understanding is that the property can now be sold on the market. Is there anything to stop the original intending purchaser from making another offer to purchase through the real estate, this time at a price he CAN pay? That would at least get the property off our hands!

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