Hunter Valley Properties
October 11th, 2010
For anybody who is an oversea’s buyer looking to invest in the real estate market in Australia then the procedure is pretty much straight forward but can take some time. Permission must first be sought from the Australian Foreign Investment Review Board.(FIRB)After you have found the exact property you intend to buy then an offer is tendered. This offer is then approved or rejected. A counter offer will be submitted by the owner of the property if he does not agree with your offer.Once agreement has been made, a 10 % holding fee is necessary while the Contract of Sale is drafted. During this time the buyer can withdraw from the sale and be given the majority of their deposit back (minus administration charge).Whilst the Contract of Sale is being drawn up the seller must make certain that the residence is fit to sell. The buyer of the Hunter Valley Real Estate also needs to ensure that all paperwork is in order and arrange finance if necessary.The rest of monies should be handed to the seller upon signing of the final sale documents.
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