Securing the Property
The Process - Securing a property is as simple as possible
Expression of Interest Form
Once a person has expressed an interest in a particular development, they are asked to fill out an ‘Expression of Interest Form’ or ‘Sales Advice Form. The ‘Expression of Interest Form’ is not a binding commitment.
The information given in the Expression of Interest Form will only be used to prepare the necessary documentation should you proceed with the proposed purchase. If you’re interested in one or more properties within a development, we request that you include alternative preferences.
The allocation of properties to purchasers is on a strictly first in first serve basis. The preference form enables us to allocate an apartment should your previous choice not be available. Once the form has been received Contract documentation is prepared.
The Developer is obliged to hold your designated property for at least seven days from the date of the Expression of Interest (where accompanied by a holding deposit) to allow contract preparation and signing by the purchaser / entity.
Once documents have been signed they are executed by the seller. At this point it is not a binding contract. Once the purchasers Lawyer has received the documents they have 5 working days (cooling off period) to give clients (the purchaser) independent advice. Should the Purchaser wish not to proceed then the initial deposit is refunded and the property is released back to the open market.
Reserving and Securing property
Property Reserved – Holding Deposit
Once a purchaser has finalised their allocation and is ready to purchase, a holding deposit is required. The amount to the holding deposit is $1,000 and is fully refundable, should you choose not to proceed with the purchase.
The holding deposit can be placed by two methods
- Electronic Transfer
Once a purchaser is 100% happy with the allocation and is ready to proceed with the purchase of the property, a 10% deposit is required to secure the property.This equates to 10% of the purchase price. Deposit details are provided in the contract of sale.
There are two types of payment that are acceptable to the vendor, these include:
- CASH DEPOSIT
- BANK GUARANTEE