A Queensland renter who missed the payment deadline for her “dream home” by mere minutes has been dealt another blow in her year-long court struggle with her landlord, as she claims the conflict has had a “catastrophic” effect on her health.
Dr. Loretta McKinnon, 44, was alerted this week that the vendor, who is also her landlord, will contest her final legal claim to the home in Brisbane’s inner north in Queensland’s Supreme Court.
Dr. McKinnon originally attempted to acquire the Windsor home she presently rents a year ago, bidding $580,000 at an auction in September.
However, her hopes of acquiring the home were dashed when her lender, the Commonwealth Bank, disclosed that a simple “human error” delayed her payment by 13 minutes.
The seller terminated the transaction and kept the $29,000 deposit, forcing the aspiring homeowner to pay both rent and the loans she took out to purchase the home.
Now, Dr. McKinnon has been served with a notice of a legal challenge to the caveat she filed when the purchase fell through, which prevents the seller from selling the residence.
Last Monday, the landlord’s attorneys informed the epidemiologist that they would contest the caveat that protects her rights as a prospective buyer.
She stated that rising interest rates were nibbling at her ankles because she was unable to leave her home or switch from Commonwealth Bank.
The three-bedroom, one-bathroom home in the beautiful neighborhood of Windsor, Brisbane, was scheduled to close in September of last year.
Unbelievably, the 13-minute delay that resulted in the loss of Dr. McKinnon’s “dream home” was caused by a bank employee marking the wrong box on official documents.
Dr. McKinnon told news.com.au that the year-long battle has had a “catastrophic affect” on her health and that she feels “captive” at the hands of her bank.
“The fact that it’s been a year and I still haven’t received my deposit back is horrifying,” she added. “My interest rates are continuing to rise. I am unable to remain here, relocate, or switch banks.’
CBA reportedly offered $700,000 to the seller to acquire Dr. McKinnon’s property, which is $120,000 more than the auction price.
It is assumed that the vendor has not accepted the offer.
Dr. McKinnon was initially offered $10,000 in compensation and the expense of her legal fees, which have amounted to around $30,000 to date.
A CBA spokesman stated that the bank “worked with Dr. McKinnon, both through her lawyers and directly, to address her complaint and assist with the purchase of another house.”
Additionally, we have participated in conversations with the vendor’s attorney in an effort to facilitate the sale’s closing. Unfortunately, this attempt has failed.
Most Australian jurisdictions offer a two-week grace period for property settlements that fail, however Queensland does not.
A rule has now been implemented that allows purchasers and sellers to extend settlement dates by five days without the consent of the other party.