In WA, what happens if a seller accepts an offer but the buyer fails to settle on the agreed date?
Correct Answer
B) The seller may serve a default notice and terminate if the buyer still fails to settle
If the buyer fails to settle on the agreed date, standard WA conditions allow the seller to serve a default notice, often called a notice to complete, giving the buyer a further period to settle. If the buyer still does not settle, the seller can terminate, keep the deposit and claim damages for any further loss.
Why This Is the Correct Answer
Standard conditions require the seller to give the defaulting buyer written notice and a further period to settle before terminating.
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