Understanding The Purchasing Process Of Real Estate In Australia

May 28th, 2010 by admin

Should you be an oversea’s buyer aiming to invest in the real-estate market in Australia then the procedure is moderately straight forward but can take some time. Permission must initially be sought from the Australian Foreign Investment Review Board.Once you have found the home you intend to buy then an offer is tendered. This offer is then accepted or rejected. A counter offer is normally submitted by the owner of the property if he does not agree with your offer.After agreement has been made, a ten percent holding fee is required as the Contract of Sale is drawn up. In this time the buyer can withdraw from the sale and receive almost all of their deposit back (minus administration charge).Whilst the Contract of Sale is being drawn up the vendor must make certain that the Property In Collingwood Park is fit to sell. The buyer should also make sure that all paperwork is in order and set up finance if required.The remainder of monies must be handed to the vendor upon signing of the final sale papers.

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