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Property Dreams Come True In Rainbow Beach
June 4th, 2010 by admin
Should you be an oversea’s buyer aiming to invest in the housing market in Australia then the procedure is relatively straight forward but can take some time. Authorization must initially be sought from the Australian Foreign Investment Review Board.
Once you have found the rainbow beach property you wish to buy then an offer is tendered. This offer is then accepted or rejected. A counter offer will be submitted by the owner of the property if he doesn’t accept your offer.
As soon as agreement has been made, a 10 % holding fee is necessary as the Contract of Sale is drafted. During this time the buyer can withdraw from the sale and receive almost all of their deposit back (minus administration fee).
Whilst the Contract of Sale is being drawn up the vendor must ensure that the residence is fit to sell. The buyer must also make sure that all paperwork is in order and organise finance if required.
The remainder of monies should be handed to the vendor upon signing of the final sale papers.